Electro Energy product revenues drop

Product revenues plummeted in the third quarter at Danbury-based Electro Energy. The company, a provider of battery technologies, saw a 92 percent decline to $40,065 in the third quarter 2007 from $502,995 at the same time last year. The company cites a decline in sales of Apache helicopter batteries and aircraft products for the significant revenue drop. However, the company had a 28 percent increase in service revenue to $942,572 in Q3 of this year, compared with $735,178 last year, resulting from new development contract awards from the U.S. Army and Navy.