A123 Systems (AONE) reported mixed results after the bell today. While the company reported an EPS loss of .22/share which was slightly worse than Wall St expectations for a .20/share loss, they did beat on the revenue side posting $24.5 million (vs the estimate of $20.80 million. Those number are about inline with what the company has been posting over the past year, so the earnings results don’t say much. As with all development stage companies, it’s all about future guidance and the news.
Here are some highlights from comments made by CEO David Vieau:
– momentum strong entering 2010 with expanded relationships with Fisker, SAIC Motor and Navistar
– investing aggressively in worldwide sales, R&D and capacity
– announcing a 200 MW-hours capacity expansion at its Michigan plant which increases overall capacity to 560MW-hours
– 2010 is a year for establishing the foundation for growth in 2011/2012 as full scale production begins