ECOtality Reports Second Quarter 2012 Results

Conference Call

ECOtality will host a conference call later today to discuss its second quarter of 2012 results and outlook for the second half of the year, followed by a question and answer period.

Date: Tuesday, August 14, 2012

Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)

Dial-In Number: 1-877-941-2069

International: 1-480-629-9713

Conference ID#: 4557281

Webcast: http://public.viavid.com/index.php?id=101299

The conference call will be webcast live and available for replay via the investor relations section of the company's website at www.ecotality.com.

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day and until August 21, 2012.

Toll-free replay number: 1-877-870-5176

International replay number: 1-858-384-5517

Replay pin number: 4557281

About ECOtality, Inc.

ECOtality, Inc. (Nasdaq:ECTY), headquartered in San Francisco, California, is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels. For more information about ECOtality, Inc., please visit www.ecotality.com .

The ECOtality, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13434

ECOTALITY INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
	June 30,  2012	December 31,  2011
	(Unaudited)	(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$ 4,323	$ 9,591
Restricted cash	700	587
Receivables, net of allowance for bad debts of $149 and $81 as of June 30, 2012 and December 31, 2011, respectively	3,082	3,124
Inventory	25,110	15,497
Prepaid expenses and other current assets	818	732
Total current assets	34,033	29,531
Property and equipment, net	15,611	16,630
Other assets	50	147
Goodwill	3,496	3,496
Intangible assets, net	898	709
TOTAL ASSETS	$ 54,088	$ 50,513
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$ 6,490	$ 10,939
Accrued legal fees	255	125
Accrued payroll	904	793
Unearned revenue, current portion	17,805	11,078
Warranty reserves	607	577
Current portion of long term debt	--	1,647
Accrued liabilities, other	2,217	2,439
Total current liabilities	28,278	27,598
Long term portion of unearned revenue	341	121
Long term portion of convertible note, less unamortized discount of $110 as of June 30, 2012	4,890	--
Other long term debt	188	109
TOTAL LIABILITIES	33,697	27,828
Stockholders' equity:
Series A convertible preferred stock, $0.001 par value, 200,000 shares authorized, 6,330 shares issued and outstanding as of June 30, 2012 and December 31, 2011	6	6
Common stock, $0.001 par value, 1,300,000 shares authorized, 23,912 and 23,915 shares issued and outstanding as of June 30, 2012 and December 31, 2011, respectively	24	24
Additional paid-in capital	127,884	127,488
Accumulated deficit	(107,447)	(104,759)
Accumulated other comprehensive loss	(76)	(74)
TOTAL STOCKHOLDERS' EQUITY	20,391	22,685
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 54,088	$ 50,513

ECOTALITY INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
	Three Months Ended June 30,		Six Months Ended June 30,
	2012	2011	2012	2011
	(Unaudited)		(Unaudited)
Revenue	$ 13,014	$ 6,038	$ 26,664	$ 10,375
Cost of goods sold	9,958	6,885	18,454	12,213
Gross profit (loss)	3,056	(847)	8,210	(1,838)
Operating expenses :
Sales and marketing	1,322	409	2,538	1,335
Research and development	299	131	624	246
General and administrative	5,268	4,193	10,181	7,138
Warrant expense	--	--	--	1,784
Total operating expenses	6,889	4,733	13,343	10,503
Loss from operations	(3,833)	(5,580)	(5,133)	(12,341)
Interest income	--	3	165	5
Interest expense	(85)	(27)	(105)	(42)
Other income (expense), net	(1)	6	2,404	8
Loss before income taxes	(3,920)	(5,598)	(2,669)	(12,370)
Income tax expense	(18)	--	(19)	--
Net loss	$ (3,937)	$ (5,598)	$ (2,688)	$ (12,370)
Net loss per share:
Basic	$ (0.16)	$ (0.40)	$ (0.11)	$ (0.90)
Diluted	$ (0.16)	$ (0.40)	$ (0.11)	$ (0.90)
Weighted-average common shares outstanding:
Basic	23,914,185	14,005,179	23,914,826	13,694,687
Diluted	23,914,185	14,005,179	23,914,826	13,694,687

CONTACT: Media:
         Caitlin Cieslik-Miskimen
         Antenna Group for ECOtality
         [e-mail]
         [phone]
         
         Investor Relations:
         Ronald Both
         Liolios Group
         [e-mail]
         [phone]

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