Key take-aways from Ocean Power Technologies, Inc. (OPTT) Q4 2012 Earnings Conference Call

Here are a few key points from Ocean Power Technologies, Inc.'s Q4/2012 conference call:

1.  OPTT has a number of ongoing projects, mostly in conjunction with governmental agencies and/or local utilities, to develop PowerBuoys to harass energy from the ocean's waves.   It is partnering with Lockheed Martin on two of these projects: one in Australia and one in Oregon.

2.  Although these projects are showing good success so far, OPTT has not yet commercialized any of the PowerBuoy systems.  However, it is discussing the production of autonomous PowerBuoys with potential commercial customers in the oil and gas industry, oceanographic, data-gathering initiatives and desalination companies

3.  Ocean Power Technologies, Inc. is still operating at a loss.  Comparisons with prior years seem difficult since its revenues and costs are project based.  However, it has reduced its operating loss and use of cash over the past year.