EnerDel (HEV) Beats Estimates, Has Plenty Of Liquidity For Expansion

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08:16:14 am on May 12, 2009

EnerDel (HEV) is still a development stage company trying to become a lithium ion battery leader so it’s earnings results aren’t all that significant at this point.  The company is still putting its plan in place and getting plants up and running. 

“The first quarter was marked by continued execution against the strategic plan laid out in the fourth quarter earnings call,” commented Chairman and CEO, Charles Gassenheimer. “We have a clear focus for production, sales and marketing and plant expansion. We believe we have all the necessary ingredients to become the leading automotive grade lithium-ion battery company.”

The company did post a much better than expected EPS number with a loss of .06/share (analysts expected a loss .12).  Financing remains a very important component to EnerDel’s expansion plans and they are in good shape there, using just $10 of the $30 million through May.

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