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USA: Battery Maker Hires Adviser to Explore Its Alternatives

A123 Systems, a maker of lithium-ion batteries for electric cars, hired an adviser to evaluate strategic alternatives for the company, its chief executive said Tuesday, setting off a 5.4 percent gain in its share price.
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A123, based in Waltham, Mass., rose 4.9 cents, to 96 cents a share. A123 has “retained an outside adviser to provide financial strategic advisory services in connection with our ongoing strategic efforts and evaluation of strategic alternatives,” David P. Vieau, A123’s chief executive, said in a conference call with analysts.

The company reported a net loss of 87 cents a share, 50 cents greater than the average of seven estimates compiled by Bloomberg. It expects 2012 sales to range from $145 million to $175 million, compared with an earlier forecast of $230 million to $300 million.


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