OverviewSuggest Edit

Mechanical Technology designs, manufactures, and markets precision linear displacement solutions, vibration measurement and system balancing solutions, precision tensile measurement systems, and wafer inspection tools. It offers electronic gauging instruments for position, displacement, and vibration applications in the industrial manufacturing/production markets, as well as the research, design, and process development market. The Company also provides engine balancing and vibration analysis systems for military and commercial aircraft.

TypePublic
Founded1961
HQAlbany, US
Websitemechtech.com

Latest Updates

Employees (est.) (Feb 2019)23
Revenue (FY, 2017)$7.1 M
Share Price (Sept 2020)$1.3 (-1%)
Cybersecurity ratingBMore

Key People/Management at Mechanical Technology

David C. Michaels

David C. Michaels

Chairman of the Board
Rick Jones

Rick Jones

President, Chief Executive Officer and Chief Financial Officer
Matthew E. Lipman

Matthew E. Lipman

Director
William P. Phelan

William P. Phelan

Director
Thomas J. Marusak

Thomas J. Marusak

Director
Edward R. Hirshfield

Edward R. Hirshfield

Director
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Mechanical Technology Office Locations

Mechanical Technology has an office in Albany
Albany, US (HQ)
325 Washington Ave Ext
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Mechanical Technology Financials and Metrics

Mechanical Technology Revenue

Mechanical Technology's revenue was reported to be $7.06 m in FY, 2017 which is a 0.1% increase from the previous period.
USD

Revenue (FY, 2017)

7.1m

Revenue growth (FY, 2016 - FY, 2017), %

0.1%

Gross profit (FY, 2017)

4.8m

Gross profit margin (FY, 2017), %

68.4%

Net income (FY, 2017)

582.0k

EBIT (FY, 2017)

588.0k

Market capitalization (17-Sept-2020)

4.9m

Closing stock price (17-Sept-2020)

1.3

Cash (31-Dec-2017)

3.8m
Mechanical Technology's current market capitalization is $4.9 m.
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

10.3m5.9m7.1m7.1m

Revenue growth, %

0%

Cost of goods sold

3.8m3.0m2.7m2.2m

Gross profit

6.5m2.9m4.3m4.8m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

2.1m2.3m1.2m1.4m1.1m2.2m2.3m2.3m1.9m1.9m

Cost of goods sold

850.0k861.0k578.0k740.0k620.0k976.0k801.0k875.0k578.0537.0k563.0k

Gross profit

1.3m1.5m626.0k626.0k463.0k1.2m1.5m1.4m1.4m1.3m

Gross profit Margin, %

60%63%52%46%43%56%65%62%72%70%
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

1.7m289.0k1.2k1.9m462.0k3.4m3.8m

Accounts Receivable

1.9m1.7m824.01.2m881.0k1.4m

Prepaid Expenses

102.0k100.0k111.0

Inventories

957.0k1.1m742.0773.0k1.0m676.0k694.0k
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

1.6m1.6m2.0m1.4m531.0k933.0k835.0k1.0m739.0774.0k910.0k1.6m1.5m899.0k336.0k529.0k886.0k3.2m3.4m3.4m

Accounts Receivable

1.0m1.0m661.0k650.0k444.0k892.0k1.1m1.4m827.01.3m978.0k954.0k1.1m1.4m

Prepaid Expenses

101.0k134.0k87.0k133.0k116.0k92.0k90.0k129.0k110.064.0k68.0k

Inventories

1.1m1.1m1.0m1.2m1.4m914.0k839.0k741.0k701.0818.0k851.0k765.0k715.0k1.0m998.0k1.2m892.0k586.0k697.0k658.0k
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

2.4m(2.1m)3.6k740.0k(2.8m)(359.0k)582.0k

Depreciation and Amortization

307.0k129.0k91.083.0k80.0k85.0k81.0k

Inventories

(113.0k)(264.0k)535.0(47.0k)(316.0k)(35.0k)13.0k

Accounts Payable

(64.0k)17.0k(56.0)67.0k(64.0k)(28.0k)201.0k
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

97.0k(4.0k)(822.0k)(1.4m)(2.5m)86.0k186.0k298.0k(432.0)178.0k(53.0k)(388.0k)(218.0k)(610.0k)(586.0k)108.0k329.0k(413.0k)(101.0k)243.0k

Depreciation and Amortization

187.0k251.0k38.0k73.0k102.0k24.0k46.0k68.0k24.041.0k60.0k

Inventories

(242.0k)(286.0k)(50.0k)(280.0k)(562.0k)204.0k295.0k421.0k(25.0)818.0k851.0k765.0k715.0k1.0m998.0k1.2m892.0k586.0k15.0k68.0k

Accounts Payable

118.0k87.0k(14.0k)116.0k86.0k257.0k38.0k2.0k56.0529.0k243.0k220.0k249.0k225.0k342.0k297.0k105.0k251.0k232.0k118.0k
USDQ2, 2011

Financial Leverage

1.9 x
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Mechanical Technology Cybersecurity Score

Cybersecurity ratingPremium dataset

B

84/100

SecurityScorecard logo

Mechanical Technology Online and Social Media Presence

Embed Graph

Mechanical Technology News and Updates

Mechanical Technology Incorporated Announces Second Quarter 2020 Financial Results

ALBANY, N.Y., July 30, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced its second quarter financial results for 2020. Please visit https://www.mechtech.com under News...

Mechanical Technology Incorporated Announces Appointment of CFO

ALBANY, N.Y., July 1, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced the appointment of Jessica Thomas as Chief Financial Officer of the Company, effective July 1,...

Mechanical Technology Incorporated Announces Results from Annual Meeting of Shareholders

ALBANY, N.Y., June 12, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, held its Annual Meeting of Shareholders on June 10, 2020 (the "Annual Meeting"). At the Annual Meeting,...

Mechanical Technology Incorporated Announces Remote Access for Annual Meeting of Shareholders

ALBANY, N.Y., May 26, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced today that it is permitting and strongly encouraging MTI shareholders to virtually attend its Annual Meeting of...

Mechanical Technology Incorporated Announces Withdrawal of Form 10 Registration Statement

ALBANY, N.Y., April 3, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announces today that it has submitted to the U.S. Securities and Exchange Commission (the "SEC") a...

Mechanical Technology, Incorporated Announces Tax Treatment of Special Dividend

ALBANY, N.Y. ( ) June 28, 2019 – Mechanical Technology, Incorporated (“MTI” or the “Company”), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced today the tax treatment, for federal tax purposes, of the special cash dividend of $0.read more
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Mechanical Technology Blogs

Mechanical Technology Incorporated Shareholder and Investor Update Call January 30, 2020

Mechanical Technology Incorporated   Shareholder and Investor Update Call January 30, 2020     Summary of Recent Developments   MTI has formed a new business unit, initially named EcoChain Inc. The purpose of EcoChain is to develop and monetize crypto currency mining facilities that can be powered b…

Mechanical Technology Incorporated Conference Call Update – January 30, 2020

Mechanical Technology Incorporated Conference Call Update – January 30, 2020 Albany, New York (PRWEB) January 28, 2020 – As previously mentioned in our January 17, 2020 press release, MTI will be hosting a conference call with MTI’s management and certain members of its Board of Directors at 11:30 A…

Mechanical Technology, Incorporated Announces Establishment of New Business Line and Strategic Investment related to Blockchain and Cryptocurrency

Mechanical Technology, Incorporated Announces Establishment of New Business Line and Strategic Investment related to Blockchain and Cryptocurrency    ALBANY, N.Y. (PRWEB), January 17, 2020 – Mechanical Technology, Incorporated (“MTI” or “the Company”) (OTC Pink: MKTY), a leading provider of test and…

Second Quarter 2019 Highlights

Mechanical Technology Incorporated   2019 Highlights (Second Quarter update)   Revenue at MTI Instruments for the first six months of 2019 dipped 4% compared to the same period of time last year due to a decline in sales to a commercial customer in Asia, who continues to be impacted by slowdowns in …

Notice of 2019 Annual Meeting of Stockholders

To the Stockholders of Mechanical Technology, Incorporated: NOTICE IS HEREBY GIVEN that the 2019 Annual Meeting of Stockholders (the “Annual Meeting”) of Mechanical Technology, Incorporated, a New York corporation (the “Company”), will be held on Friday, March 29, 2019, at 10:00 a.m., local time, at…

Mechanical Technology, Incorporated Announces Current Estimate of Tax Treatment and Information Regarding Ex-Dividend Date for Special Dividend

Mechanical Technology, Incorporated Announces Current Estimate of Tax Treatment and Information Regarding Ex-Dividend Date for Special Dividend   ALBANY, N.Y. (PRWEB) March 12, 2019 – Mechanical Technology, Incorporated (“MTI” or the “Company”), a publicly traded company (OTC Pink: MKTY) headquarter…
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Mechanical Technology Frequently Asked Questions

  • When was Mechanical Technology founded?

    Mechanical Technology was founded in 1961.

  • Who are Mechanical Technology key executives?

    Mechanical Technology's key executives are David C. Michaels, Rick Jones and Matthew E. Lipman.

  • How many employees does Mechanical Technology have?

    Mechanical Technology has 23 employees.

  • What is Mechanical Technology revenue?

    Latest Mechanical Technology annual revenue is $7.1 m.

  • What is Mechanical Technology revenue per employee?

    Latest Mechanical Technology revenue per employee is $307 k.

  • Who are Mechanical Technology competitors?

    Competitors of Mechanical Technology include Optical Air Data Systems, Semicoa and Microsemi.

  • Where is Mechanical Technology headquarters?

    Mechanical Technology headquarters is located at 325 Washington Ave Ext, Albany.

  • Where are Mechanical Technology offices?

    Mechanical Technology has an office in Albany.

  • How many offices does Mechanical Technology have?

    Mechanical Technology has 1 office.