UQM Technologies Inc (UQM, Financial) filed Quarterly Report for the period ended 2011-12-31.
Uqm Technologies Inc. has a market cap of $62.8 million; its shares were traded at around $1.72 with and P/S ratio of 7. Uqm Technologies Inc. had an annual average earning growth of 5.5% over the past 10 years.
Operations for the third quarter ended December 31, 2011 resulted in a net loss of $846,416, or $0.03 per common share, compared to a net loss of $932,520, or $0.03 per common share for the comparable quarter last year. The decrease in net loss is primarily attributable to an increase in gross margin contribution dollars which increased 32 percent to $578,529 for the quarter ended December 31, 2011 versus $439,834 for the comparable quarter last fiscal year due to a similar percentage increase in total revenue.
Gross profit margins for the quarter ended December 31, 2011 were 21 percent compared to 21 percent for the quarter ended December 31, 2010. Gross profit margin on contract services was 39 percent for the third quarter this fiscal year compared to 42 percent for the quarter ended December 31, 2010. The decrease is primarily attributable to lower expected margins on contracts in process at December 31, 2011. Gross profit margin on product sales for the third quarter increased to 20 percent compared to 19 percent for the third quarter last year. The increase is primarily due to favorable product mix and improved overhead absorption arising from higher volumes.
Operations for the nine month period ended December 31, 2011, resulted in a net loss of $3,476,144, or $0.10 per common share, compared to a net loss of $1,797,183, or $0.05 per common share for the comparable period last year. The increase in net loss is primarily attributable to higher levels of production engineering expenses, net of reimbursements under our DOE Grant, which were partially offset by increased gross profit contribution dollars for the nine month period. The comparable prior year period results include $1,546,446 of additional reimbursements under the DOE Grant arising from costs incurred in prior periods and a customer bankruptcy settlement of $265,269 which reduced net loss for the nine month period last fiscal year.
Product sales for the nine month period ended December 31, 2011 decreased to $5,946,710, versus to $6,161,179 for the comparable period last fiscal year. The decrease is primarily due to decreased shipments of prototype propulsion systems and generators, DC-to-DC converters and vehicle auxiliary motors partially offset by increased propulsion system shipments to CODA Automotive.
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Uqm Technologies Inc. has a market cap of $62.8 million; its shares were traded at around $1.72 with and P/S ratio of 7. Uqm Technologies Inc. had an annual average earning growth of 5.5% over the past 10 years.
Highlight of Business Operations:
Costs and estimated earnings on uncompleted contracts decreased $42,536 to $84,239 at December 31, 2011 versus $126,775 at March 31, 2011. The decrease is due to more favorable billing terms on certain contracts in process at December 31, 2011 versus March 31, 2011. Estimated earnings on contracts in process decreased to $286,709 on contracts in process of $1,263,614 at December 31, 2011 compared to estimated earnings on contracts in process of $424,184 on contracts in process of $4,530,042 at March 31, 2011. The decrease in estimated earnings is attributable to lower levels of funded engineering contracts in process partially offset by higher expected margins on certain contracts in process at December 31, 2011.Operations for the third quarter ended December 31, 2011 resulted in a net loss of $846,416, or $0.03 per common share, compared to a net loss of $932,520, or $0.03 per common share for the comparable quarter last year. The decrease in net loss is primarily attributable to an increase in gross margin contribution dollars which increased 32 percent to $578,529 for the quarter ended December 31, 2011 versus $439,834 for the comparable quarter last fiscal year due to a similar percentage increase in total revenue.
Gross profit margins for the quarter ended December 31, 2011 were 21 percent compared to 21 percent for the quarter ended December 31, 2010. Gross profit margin on contract services was 39 percent for the third quarter this fiscal year compared to 42 percent for the quarter ended December 31, 2010. The decrease is primarily attributable to lower expected margins on contracts in process at December 31, 2011. Gross profit margin on product sales for the third quarter increased to 20 percent compared to 19 percent for the third quarter last year. The increase is primarily due to favorable product mix and improved overhead absorption arising from higher volumes.
Operations for the nine month period ended December 31, 2011, resulted in a net loss of $3,476,144, or $0.10 per common share, compared to a net loss of $1,797,183, or $0.05 per common share for the comparable period last year. The increase in net loss is primarily attributable to higher levels of production engineering expenses, net of reimbursements under our DOE Grant, which were partially offset by increased gross profit contribution dollars for the nine month period. The comparable prior year period results include $1,546,446 of additional reimbursements under the DOE Grant arising from costs incurred in prior periods and a customer bankruptcy settlement of $265,269 which reduced net loss for the nine month period last fiscal year.
Product sales for the nine month period ended December 31, 2011 decreased to $5,946,710, versus to $6,161,179 for the comparable period last fiscal year. The decrease is primarily due to decreased shipments of prototype propulsion systems and generators, DC-to-DC converters and vehicle auxiliary motors partially offset by increased propulsion system shipments to CODA Automotive.
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