Quantum Fuel Systems (QTWW) Posts Smaller Q1 Loss on 82% Rev Growth

Quantum Fuel Systems (NASDAQ: QTWW) reported Q1 EPS from continuing operations of ($0.16), versus ($0.43) last year. The results may not compare to the consensus of ($0.05. Revenue for the quarter came in at $7.95 million, up 82% from the $4.41 million reported last year.

Product sales recognized in the first quarter totaled $4.8 million and primarily related to sales of CNG fuel storage tanks and systems. The Company's backlog for products associated with CNG fuel storage tanks and systems increased to $14.9 million at March 31, 2014.

"We were pleased to drive revenue growth and improve our operating performance during the quarter compared to the prior year, and at the same time strengthen our balance sheet. The quarter was also marked by several product introductions, including our innovative Back-of-Cab storage system that fully leverages our integration expertise and continues to provide the foundation for growth," stated Brian Olson, President and CEO of Quantum. Mr. Olson continued, "our new OEM-level storage systems, which have generated initial orders and received a lot of interest within the industry since their roll out, demonstrate that we are well positioned to leverage our core strengths of integrating our advanced tank technologies with our innovative complete fuel storage module systems to deliver value to the market."

For earnings history and earnings-related data on Quantum Fuel Systems (QTWW) click here.

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