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.
Interestingly, Valence sees marine, industrial, and health-care markets as its next growth engine, not the electric grid or passenger vehicles its competitors have targeted.
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.
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