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Earnings reports

Performance Tech Posts Q3

ROCHESTER, N.Y. -- Performance Technologies, Inc. (NASDAQ:PTIX) , a leading developer of platforms, components, software and services for the communications, military and commercial markets, today announced its financial results for the third quarter 2005.

Revenue in the third quarter 2005 amounted to $12.3 million, compared to $10.8 million in the second quarter 2005 and $11.6 million in the corresponding quarter a year earlier. Revenue for the nine months ended September 30, 2005 amounted to $36.3 million, compared to $40.4 million during the corresponding period in 2004.

GAAP Information

Net income for the third quarter 2005 totaled $.9 million, or $.07 per diluted share based on 13.1 million shares outstanding. Net income for the third quarter 2004 totaled $1.4 million, or $.11 per diluted share, based on 13.0 million shares outstanding.

Net income for the nine months ended September 30, 2005 totaled $2.2 million, or $.17 per diluted share based on 13.1 million shares outstanding. For the nine months ended September 30, 2004, net income totaled $4.0 million, or $.30 per diluted share based on 13.4 million shares outstanding.

Non-GAAP Information

Management believes that the Company's results excluding non-recurring items ("Non-GAAP") provide another measure of its operations as non-recurring items result from facts and circumstances that vary in frequency, amounts and cause.

There were no differences between GAAP and Non-GAAP net income and diluted earnings per share for the third quarter 2005 and for the nine months ended September 30, 2005.

Non-GAAP net income for the third quarter 2004 totaled $.2 million, or $.02 per diluted share based on 13.0 million shares outstanding. This Non-GAAP net income excluded the gain realized on the sale of the Company's minority interest in Momentum Computer, Inc., which amounted to $1.2 million, or $.09 per diluted share.

Performance Technologies Inc.
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