This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

UQM Technologies Reports Third Quarter Operating Results

UQM Technologies, Inc. (NYSE Amex: UQM), a developer of alternative-energy technologies, announced today operating results for the quarter and nine month period ended December 31, 2011.

“Operating results for the third quarter were positively impacted by shipments of our PowerPhase Pro ® electric propulsion systems to CODA Automotive. Product sales for the quarter rose 30 percent contributing to a reduction in net loss,” said Eric R. Ridenour, UQM Technologies’ President and Chief Executive Officer. “CODA has announced that they will begin delivering vehicles to customers in February and we are ramping-up our production to meet their increasing requirements. In addition, we recently received a 100 unit order from Electric Vehicles International for PowerPhase HD ® electric propulsion systems to power all-electric trucks for UPS, expanding our penetration in the medium-duty truck market. We are looking forward to acceleration in our revenues in future quarters from these programs and from additional market opportunities originating from an aggressive sales and marketing outreach program lead by our newly hired Vice President of Sales and Business Development, Adrian Schaffer.”

Operations for the third quarter resulted in a net loss of $846,416 or $0.03 per common share on total revenue of $2,719,323 versus a net loss of $932,520 or $0.03 per common share on total revenue of $2,090,474 for the third quarter last fiscal year.

Operations for the nine month period ended December 31, 2011 resulted in a net loss of $3,476,144 or $0.10 per common share on total revenue of $6,368,606 versus a net loss of $1,797,183 or $0.05 per common share on total revenue of $6,673,356 for the comparable period last year. Net loss for the nine month period last fiscal year includes an expense reduction for the recovery of costs from earlier periods under our DOE grant of $1,546,446.

“The reduction in net loss for the quarter was driven by a 30 percent increase in total revenue which fueled an expansion in gross profit to $578,529 versus $439,834 for the comparable period last fiscal year,” said Donald A. French, UQM Technologies’ Treasurer and Chief Financial Officer. “Operating results for the quarter and the nine months ended December 31, 2011 were negatively impacted by the bankruptcy filing of Saab, which resulted in a bad debt charge of $127,697 and recruiting costs for our new Vice President of Sales.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs