UQM Technologies (UQM) Posts Narrower Loss, Files To Offer 15 Million Shares

With a development stage company like UQM Technologies (UQM), it’s never about quarterly earnings, it’s ALWAYS about the news.  We certainly saw  that a couple days ago as the stock rocketed higher on the Coda Motors news.  Earnings aren’t all that important at this stage, but I’ll report them anyway.  The company posted a narrower loss this quarter of .02/share vs the .04/loss posted a year ago.

“During the first quarter we continued to experience strong demand for our electric propulsion systems due to an expansion in the number of all-electric and hybrid electric vehicle platforms being developed for potential introduction in the automobile market,” said William G. Rankin, UQM Technologies’ President and Chief Executive Officer. “We are currently working with 14 vehicle producers, six of which are established international automobile manufacturers and eight of which are entrepreneurial companies that plan to introduce either all-electric, hybrid-electric or plug-in hybrid-electric vehicles over the next several years.”

In order to produce enough propulsion systems for Coda, the company needs to raise capital and announced a filing to pursue capital at a later date.

Shares are under a bit of pressure after hours, down 6%.


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