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.
Fool contributor Travis Hoium does now own an electric vehicle yet and does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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