Quantum Fuel Systems (QTWW) Reports Narrower EPS Loss On Record Revenue, Shares Still Bullish In Short Term

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09:13:46 am on July 1, 2011

Shares of Quantum Fuel Systems (QTWW) are having a good morning, up over 10% on news the company reported a record revenue number of $8.2 million which was well ahead of the analyst estimate of $5.6 million.  The company is attributing the surge to increased development program revenue and product shipments to Fisker of its Q-Drive components for electric cars.  The EPS loss narrowed this quarter to .02/share, but much of that was due to a change in the fair value of its derivative liabilities.  The important news to take away from this report is that the company is decreasing operating costs while increasing revenue.  While the company is still a ways off from being profitable, it’s a step in the right direction.

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Alan P. Niedzwiecki, President and CEO, stated, "Our continued revenue growth and improved operating performance is being driven by the Fisker Karma launch, new customer programs, strong diversification in our customer base, and continued development and application of emerging technologies.  We are excited about the number of new programs initiated over the last six months and the opportunity for these programs to generate significant revenues for the company over the next several years." Mr. Niedzwiecki continued, "These programs cut across several technologies including battery electric, plug-in hybrid electric, natural gas vehicles and hydrogen fuel cell electric vehicles.  Over the last several months, we have been successful in securing government funds, introducing our new F-Drive hybrid propulsion system, and announcing a partnership with Dow Chemical/Dow Kokam on the commercialization of an F-150 PHEV program."

In my last post on QTWW in late May, I mentioned that shares of QTWW are looking more bullish and likely have found a bottom at the $2.25 level.  I still believe that to be the case and today’s sure back above the 50 day moving average may be the beginning of a sustained move above that level.

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