Velan Inc. Reports its Full Year and Fourth Quarter 2010/11 Financial Results
Tuesday, May 17, 2011
Nuclear continued to be an important factor in the Company's
sales, bookings, and backlog. The serious nuclear accident at Fukishima, Japan,
caused by the earthquake and tsunami has had a serious impact on the nuclear
industry around the world. Despite the tragic events in Japan, the Company
believes that the new generation- three reactors have vastly improved safety
characteristics and that nuclear will play an important role in meeting future
energy requirements. The Company expects that its current order backlog will
continue to be manufactured as scheduled, but there will be a hiatus or
slowdown in commitments for new orders. More…
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