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Velan Inc. Reports its Full Year and Fourth Quarter 2010/11 Financial Results

Tuesday, May 17, 2011  
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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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