One of the market’s oldest alternative energy plays, Energy Conversion Devices (“ECD”), is enjoying a wave of positive feedback following the release of financial results for the period ended March 31st, 2008. In recent days, the company has been featured on CNBC’s Fast Money, Motley Fool’s Buy List, and numerous Associated Press articles. Exceptional quarter results seem to be the catalyst by which ECD has shoved its way onto financial watch-lists everywhere.

Total revenues for the reported quarter have spiked drastically over those of a year ago, reaching $69.9 million from 2007’s $27.4 million. Earnings per share were an impressive 0.17, in comparison to a net loss of 0.17 in early 2007. The company’s total assets grew as well, to $605.1 million, trumping the $600.6 million recorded in the same period last year.

It has been suggested that Congress’ Ways and Means Committee will be voting on a bill to further extend tax credits for alternative energy investors, so it comes as no surprise that a prevailing solar entity such as ECD is causing a stir on Wall Street. Record oil prices have Americans flustered and nervously looking to the future, hopeful for change. Energy Conversion Devices, Inc. is a frontrunner in a sector that will only continue to emerge as these fears and hopes intensify.

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