Valence Technology, Inc. is primarily focused on research and development efforts focused on its product development of its cobalt-oxide- and manganese-oxide-based, lithium-ion technology to the mobile communications market 

Revenues for fiscal year 2007 were $16.7 million, down 3 percent from $17.2 million in fiscal 2006. The company reported a net loss of $22.4 million for fiscal 2007, or $0.22 per basic and diluted share, compared to net loss of $32.9 million or $0.37 per basic and diluted share for fiscal 2006. Operating expenses were $16.5 million, down 15 percent from $19.4 million for fiscal 2006. Gross margin as a percentage of revenue was positive 2 percent for fiscal 2007 and negative 48 percent for fiscal 2006.
Valence Technology Provides Financial Guidance for the Second Quarter of Fiscal Year 2007 
AUSTIN, Texas--(BUSINESS WIRE)--Aug. 16, 2006--Valence Technology Inc. (NASDAQ:VLNC), providers of Saphion(R) energy storage systems, the industry's first commercially available, safe, large-format lithium-ion rechargeable batteries, provides the following financial guidance in adherence with Regulation Fair Disclosure as promulgated by the United States Securities and Exchange Commission. Valence Technology forecasts revenue for the second quarter of fiscal year 2007 to be in the range of $5.0 million to $6.0 million. The expected increase in revenue for the second quarter is a result of an increase in sales of large format systems as well as filling small format N-Charge system orders that were scheduled to be shipped in the first quarter but which were postponed until the second quarter of fiscal year 2007 after receiving UL recertification

Valence Technology Reports Fiscal 2006 Fourth Quarter and Year-End Financial Results 
AUSTIN, Texas, Jun 29, 2006 (BUSINESS WIRE) -- Valence Technology, Inc. (NASDAQ:VLNC), developers of Saphion(R) technology, the first commercially available safe, phosphate-based lithium-ion battery technology, today reported financial results for its fiscal fourth quarter and year ended March 31, 2006. 
Highlights for fiscal year 2006 include the following: 
-- Increased revenue by 61.4 percent to $17.2 million. This represents the highest annual revenue in the Company's history. 
-- Large-format battery systems sales represented 62.4 percent of the sales mix, compared to 11.2 percent for the prior year. 
-- Volume shipments of Segway, LLC battery packs. 
-- Announced and began shipments of new U-Charge XP and RT product lines. 
-- Reduced operating expenses by 12.1 percent year-over-year. Excluding a one-time charge cost decreased by 23.3 percent year-over-year. 
-- Finalized engineering and manufacturing transition to China. 
-- Hired Dr. James (Jim) Akridge as president and chief executive officer, Thomas Mezger as chief financial officer and Dr. ChunTai Guo as president of Asia Pacific operations. 
Jim Akridge, president and chief executive officer, stated, "Valence is executing on a strategy to grow revenues in multiple markets with new products while also reducing costs in all areas. We are entering fiscal year 2007 with a strong management team, a focus on our four strategic priorities, and an increase in market momentum." 
Financial Results 
Revenues for fiscal year 2006 were $17.2 million, up 61.4 percent from $10.7 million in fiscal year 2005. The company reported a net loss for fiscal year 2006 of $32.9 million, or $0.37 per basic and diluted share, compared to $32.2 million or $0.40 per basic and diluted share for fiscal year 2005. Operating expenses were $19.4 million, down 12.1 percent from $22.1 million for fiscal year 2005. Gross margin loss as a percentage of revenue was 47.9 percent for fiscal 2006 and 53.2 percent for fiscal 2005. Excluding $3.8 million cost for production scrap, gross margin would have been negative 25.8 percent for fiscal year 2006. 
For the fourth quarter of fiscal 2006, the company reported revenue of $3.5 million, up 46.7 percent from $2.4 million for the fourth quarter of fiscal 2005. The company reported a net loss of $9.6 million, or $0.11 per basic and diluted share, compared to $9.2 million, or $0.11 per basic and diluted share, for the fourth quarter of fiscal 2005. 
Fiscal Year 2006 Financial Results Conference Call and Webcast 
The Valence management team will host a conference call and live webcast to discuss fiscal year 2006 financial results beginning at 4:00 p.m. ET on Thursday, June 29, 2006. Investors and other interested parties may participate in the call by dialing 800-310-6649 at least fifteen minutes prior to the call and entering pass code 7514681, or by listening to the live webcast, which can be accessed on the investor relations section of Valence's Web site, www.valence.com. A replay will be available by phone from 6:00 p.m. ET on Thursday, June 29, 2006, through 12:59 p.m. ET on Wednesday, July 5, 2006. To access the replay, please dial 719-457-0820 and enter pass code 7514681.

Valence Technology Reports Financial Results for Third Quarter Fiscal 2006; Company Appoints New President of Asia/Pacific Operations
AUSTIN, Texas--(BUSINESS WIRE)--Feb. 9, 2006--Valence Technology Inc. (Nasdaq:VLNC), provider of Saphion(R) technology, the industry's first commercially available, safe, large-format lithium-ion rechargeable battery technology, today reported results for the quarter ended December 31, 2005.
Highlights for the third quarter of fiscal year 2006 include the following:
    --  Quarterly revenue of $4.8 million, an 89 percent increase over the same quarter of fiscal year 2005.
    --  Improved gross margin as a percentage of sales by 45 percent   over third quarter of fiscal year 2005.
    --  Reduced operating expenses by 43 percent from the same quarter;  a year ago (excluding special expense and income adjustments).
    --  Large-format battery systems sales represented 59 percent of  the sales mix, compared to 10 percent in the same quarter of
        fiscal year 2005.
    --  Grew the number of customers by 12 percent over second quarter of fiscal year 2006.

"We're seeing a growing interest in our safe, lithium-ion battery systems. This is evidenced by the fact that in the first three quarters of fiscal year 2006, we have exceeded by 28 percent the total revenue for fiscal year 2005," said Dr. James R. Akridge, president and chief executive officer of Valence Technology Inc. "Going forward, the entire company is focused on four strategic priorities: improving the yield and increasing supply of our Saphion I cathode material; launching the new lines of U-Charge products announced last month; aggressively building and diversifying our customer base; and, reducing costs in all areas of our business."
Financial Results
Valence Technology reported revenue for the third quarter of fiscal year 2006 of $4.8 million, an increase of 89 percent over third quarter of fiscal year 2005, which was $2.55 million. The company reported a net loss available to common stockholders of $8.3 million, or nine cents per basic and diluted share. This compares to a net loss available to common stockholders of $6.6 million, or eight cents per basic and diluted share, in the third quarter of fiscal year 2005, and a net loss of $8.1 million, or nine cents per basic and diluted share, in the second quarter of fiscal year 2006.