Tag Archives: wuxi autocycle

Advanced Battery (ABAT) Misses On EPS & Revenues

Advanced Battery Technologies (ABAT) reported their earnings during market hours today and missed on both EPS and revenues.  Excluding one time gains, the company earned just .03/share which missed the analyst estimate of .08/share and represents a 67% plunge over the year ago quarter.  Despite an increase in revenues due to the Wuxi Autocycle acquisition, the company still missed estimates there as well, reporting $13.8 million.  That’s a miss of nearly $2 million, but is … Read the rest

Advanced Battery (ABAT) Providing Financial Guidance for Wuxi Autocycle

Advanced Battery Technologies (ABAT), which recently acquired Wuxi Autocycle to break into the electric bike biz is providing some financial guidance for Wuxi with 3 year projections. ..

Wuxi currently has 4 production lines in operation with production capability of 100 vehicles per day per line but is currently operating at lower than 20% of total capacity.

For the period of May through December of 2009, the company believes Wuxi will contribute revenue of $35.0 … Read the rest