Please replace the release dated August 15, 2011, with the following corrected version due to multiple revisions.
ENOVA ANNOUNCES Q2 2011 FINANCIAL RESULTS
8 th Consecutive Quarter with Positive Gross Margins
Drive System Powers All Electric Retrofits for Fleet OperatorsEnova Systems, Inc. (NYSE AMEX: ENA) (AIM: ENV) (AIM: ENVS), a leading developer of proprietary hybrid electric and all-electric drive systems and drive system components for the emerging green commercial vehicle market, releases its financial results for Q2 2011. The company continues to improve its margins, with a 23% positive margin complementing its 8 th consecutive quarter of positive results. GROWTH HIGHLIGHTS:
- $2.5M in revenue for Q2 2011, an increase of 23% over the same period in 2010
- 9% points increase in gross margin to 23% in Q2 2011 from 14% in the same period in 2010
- 8th consecutive quarter with positive gross margins