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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

UQM Technologies Reports First Quarter Operating Results

Stocks in this article: UQM

UQM TECHNOLOGIES, INC. (NYSE MKT: UQM), a developer of alternative energy technologies, announced today operating results for the quarter ended June 30, 2012. Total revenue was $2.4 million, an increase of 82% year-over-year versus $1.3 million for the first quarter of last year. Net loss for the first quarter was $1.3 million, or $0.04 per common share, versus a net loss of $1.0 million, or $0.03 per common share, for the comparable period last year.

“First quarter revenue increased substantially reflecting strong growth in contract services revenue and a 64% increase in product revenue led by shipments to EVI and a major automotive OEM,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies. “We are continuing to focus on a successful launch with CODA, expanding our worldwide presence, developing and launching advanced new products for our major markets and ensuring that we meet our customers’ needs for consistently high quality products.”

Gross profit for the quarter increased 58% percent to $0.9 million versus $0.6 million for the first quarter last fiscal year reflecting increased revenue and strong demand for our PowerPhase Select® systems. The increase in net loss for the first quarter was due primarily to higher recruiting, relocation and payroll costs related to recent additions to the senior management team and increased levels of marketing and travel expenditures related to our business development strategy for the Chinese market. At June 30, 2012 cash and short-term investments were $8.8 million and working capital was $24.2 million.

Conference Call

The Company will host a conference call today at 4:30 p.m. Eastern Time to discuss operating results for the quarter. To attend the conference call, please dial 1-877-941-8631 approximately ten minutes before the conference is scheduled to begin and provide conference code “4556393” to access the call. International callers should dial +1 480-629-9867. For anyone who is unable to participate in the conference, a recording will be available for 48 hours beginning at 6:30 p.m. Eastern Time today. To access the playback call 1-800-406-7325 and enter replay code 4556393#. International callers should dial +1 303-590-3030.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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