The advanced battery market almost had a headline day yesterday when Valence Technology
Here are a few highlights from the earnings release:
- Revenue was up 234% from last year to $13.8 million as Smith Electric, Segway and Howard Medical ramped up purchases.
- Gross margin improved to 20% from 12% a year ago, although margins were flat from last quarter.
- Revenue in the fourth quarter is expected to be $13 million to $15 million.
The pressure is now on A123 Systems
Speaking of demand, FedEx
We may be seeing the start of a turn toward profitability for Valence, and if buyers like FedEx pick up commercial vehicles, we should see more growth going forward. Investors have their fingers crossed.