BOSTON, Apr 07, 2011 --

Satcon Technology Corporation(R) (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today announced preliminary unaudited results for revenue and gross margin for its first quarter ended March 31, 2011.

Based on preliminary financial data and subject to the final closing of the Company's books, Satcon expects first-quarter 2011 revenue will be between $61 million and $63 million. The Company's expected Q1 2011 revenue performance is a four-fold increase over revenue in Q1 2010 of $14.7 million, but is less than previously announced expectations in the range of $65 million to $70 million. The Company attributed the lower-than-expected revenue to the requests from a few of its customers to delay the delivery of inverter systems initially targeted for March to later in the year.

As a result of the change in revenue expectations, gross margins are now expected to be within a range of 23% to 25%, below the Company's previously announced range of 25% to 27%.

"While we are pleased our quarterly revenue has grown year over year, our Q1 2011 revenue reflects delays in construction projects," said Steve Rhoades, Satcon's President and Chief Executive Officer. "We continue to see significant year over year growth as a result of our diversified geographic strategy. We expect the global environment to improve as we head into the peak construction season. When combined with demand trends in the US and Canada, as well as emerging new global markets, we continue to anticipate significant worldwide growth in 2011."

Satcon will release its first-quarter 2011 financial results after the close of market on Tuesday, April 26, 2011. In conjunction with the announcement, management will host a conference call that day at 5:00 p.m. ET.

During the conference call, Satcon may answer questions relating to business and financial developments and trends, and other business and financial matters. Satcon's responses to these questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed.