Discussion Starter · #1 ·
Click here to view the file
http://www.gurufocus.com/news.php?id=116752Quantum Fuel Systems Technologies Worldw (QTWW) filed Quarterly Report for the period ended 2010-10-31.
Quantum Fuel Systems Technologies Worldw has a market cap of $91.5 million; its shares were traded at around $0.488 with and P/S ratio of 9.5.
Highlight of Business Operations:
Product revenue for the Electric Drive & Fuel Systems segment increased $0.3 million, or 75% from $0.4 million in the second quarter of fiscal 2010 to $0.7 million in the second quarter of fiscal 2011, and increased $0.8 million, or 133%, from $0.6 million in the first six months of fiscal 2010 to $1.4 million in the first six months of fiscal 2011 due in part to the initial product shipments to Fisker Automotive related to our Q-Drive hybrid drive systems and increased shipments of high pressure fuel storage tanks for CNG applications. We expect product revenue to increase significantly in the latter part of fiscal 2011 as a result of anticipated sales to Fisker Automotive associated with the planned launch of the Fisker Karma in February 2011.
Contract revenue for the Electric Drive & Fuel Systems segment increased $0.8 million, or 36%, from $2.2 million in the second quarter of fiscal 2010 to $3.0 million in the second quarter of fiscal 2011, and increased $0.6 million, or 12%, from $5.1 million in the first six months of fiscal 2010 to $5.7 million in the first six months of fiscal 2011. Contract revenue is derived primarily from system development and application engineering of our products under funded Fisker Automotive contracts, OEM contracts, aerospace programs, and other funded contract work with the United States (US) military and other government agencies. Fisker Automotive represented $1.0 million and $1.6 million of contract revenue earned during the second quarters of fiscal 2010 and 2011, respectively.