Ener1 (HEV) Misses, Ramps Up Production For THINK Electric Car

Ener1 (HEV) is still what I would call a development stage company, so the earnings reports aren’t as important as the news flow during the quarter.  Let’s take a look and see how they did anyway.  The company missed analyst estimates by a bit posting an EPS loss of .13 on revenues of $11 million.  Those results are about in line with what they reported last quarter. 

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Most important is what’s on horizon and the CEO commented on the future.  Here are some highlights:

– rapidly scaling up battery production at 3 Indiana facilities to launch commercial production for the THINK electric car
– expects to begin recognizing revenue for THINK operations this quarter
– has been confirmed the exclusive battery supplier for the Volvo C30 Pure Electric Vehicle set for production in 2011

So let’s see how much revenue they recognize next quarter and what kind of cash they are having to burn through to get this production ramped up.

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