This Day On The Street
Continue to site
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

UQM Technologies Reports Second Quarter Operating Results

UQM Technologies, Inc. (NYSE MKT: UQM), a developer of alternative energy technologies, announced operating results today for the second quarter ended September 30, 2012. Total revenue was $1.2 million, a decrease of 49% year-over-year versus $2.3 million for the second quarter of last year. Net loss for the second quarter was $2.6 million, or $0.07 per common share, versus a net loss of $1.6 million, or $0.04 per common share, for the comparable period last year.

“Second quarter revenue was impacted by the slow pace of the CODA vehicle launch. We remain optimistic that CODA will resume its production ramp-up given its announced plans, including opening ten US dealerships by year end,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies. “Meanwhile, we took significant steps this quarter to further diversify our customer base and grow our worldwide presence, by entering emerging territories such as China. These business development activities are a critical investment in the future growth of the business.”

Total revenue for the six months ended September 30, 2012 was $3.6 million, essentially flat with total revenue for the same period last fiscal year. Net loss for the six months ended September 30, 2012 was $3.9 million or $0.11 per common share, compared to a net loss of $2.6 million or $0.07 per common share for the comparable period last year. The higher net loss in 2012 reflects lower product margins and increased selling, general and administrative costs associated with investments made towards the company’s strategic growth opportunities.

At September 30, 2012 cash and short-term investments were $7.0 million and working capital was $22.5 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 1-888-561-1799 approximately ten minutes before the conference is scheduled to begin and provide conference code “4570874” to access the call. International callers should dial 1-480-629-9678. 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 4570874#. International callers should dial +1 303-590-3030.

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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs