Net revenue for the first quarter of 2011 increased 56% to $17.3 million, vs. $11.1 million in the year-ago quarter, following a 57% increase in product revenue and 50% augment in service and other revenue. The company realized revenue of $480,000 per megawatt for 31.2 megawatts of critical power systems compared to $414,000 per megawatt for 23.6 megawatts of critical power systems sold in the prior year's quarter. Net loss incurred was $1.1 million or 1 cent per share, compared to $2.6 million or 4 cents per share in the first quarter of 2010.
The company's revenue guidance for the second quarter of 2011 is in the range of $17 to $20 million, or 6% to 25% year-over-year increase. Earnings are expected to range between $(0.01) and a profit of $0.01 per share.All the three analysts covering the stock recommend a buy. On average, analysts estimate 31% upside to $2.92 in value from current levels.