UQM Technologies (UQM) Reported First Quarter Results, Surges

UQM Technologies (UQM) reported 1Q results last week and surged more than 10% on Friday right up to resistance of the 200 day moving average.  The company reported an EPS loss of .04/share as compared with a loss of .05/share in the year ago quarter on revenues that were up 23% over the year ago quarter.

Revenue growth was driven by double digit growth in both contract services and product sales.  Said Donald A. French, UQM Technologies’ Treasurer and Chief Financial Officer,  “As we announced earlier, demand for propulsion motors during the quarter far outpaced last years levels which we expect will translate into continue growth in product sales revenue over the remainder of the fiscal year.”

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