UQM Technologies, Inc. (UQM)

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Third Quarter Highlights
Revenue of $4.4 million, up 59% compared to the third quarter of 2017
Showcased the Company’s new PowerPhase® HD2 electric motor inverters at the Electric & Hybrid Vehicle Technology trade show in Michigan
Announced $3 million of additional Chinese orders for fuel cell compressor systems along with one from Lightning Systems for electric propulsion
Will introduce a fully-integrated fuel cell compressor system at the upcoming Hydrogen Energy & Fuel Cell Technology Expo in Foshan, China
“UQM marked another quarter of strong top line growth and new purchase orders as we continued making progress on our path to profitability,” said Joe Mitchell, UQM Technologies’ President and Chief Executive Officer. “Revenue rose nearly 60% year-over-year – underscoring robust demand – while lower margins reflected product mix and ongoing business investment. During the period we further advanced our development work with Meritor, grew the Company’s presence in China, and focused on other international expansion opportunities such as India. We announced $3 million of new Chinese orders for fuel cell compressor systems as well as an incremental award from Lightning Systems, while also showcasing our technology at a major trade show in Michigan. In addition, we’ll be introducing a fully-integrated fuel cell compressor system at an upcoming expo in China. Overall we believe the positive trends of the past two quarters will continue going forward, leaving us positioned for strong growth and improved bottom line results heading into 2019.”

Results for the Three Months Ended September 30, 2018
Revenue for the third quarter of 2018 was $4.4 million compared to $2.8 million for the third quarter last year, an increase of 59%.
The Company reported a loss from operations of $1.2 million for the quarter versus $1.1 million in the prior-year period. Lower gross profit, reflecting product mix, was partially offset by a reduction in SG&A expense to $1.8 million from $2.0 million in the 2017 third quarter.
Net loss for the third quarter was $1.1 million, or $(0.02) per common share, compared to a net loss of $0.5 million, or $(0.01) per common share, last year. The fiscal 2017 third quarter included a $0.6 million gain from the sale of property.

Conference Call
The Company will host a conference call tomorrow, November 1, 2018 at 10:30 a.m. Eastern Time, to discuss operating results for the quarter ended September 30, 2018. To attend the conference call, please dial 888-241-0326 approximately ten minutes before the conference is scheduled to begin and provide the conference ID “2599761” to access the call. International callers should dial [phone]. The call will also be webcast live and accessed from the company’s website at www.uqm.com/investors. Parties listening via the webcast will be in a “listen-only” mode. Please log onto UQM’s website ten minutes prior to the start of the webcast to register.
An audio replay of the webcast will be available two hours after the call and can be accessed on the investor page of website using the link listed above.

https://www.uqm.com/English/investors/press-releases/press-release-details/2018/UQM-Technologies-Reports-Third-Quarter-Financial-Results/default.aspx