UQM Technologies Inc. (Detroit, MI) announced that it achieved record fiscal year 2001 revenues. Operations for the year ended March 31, 2001, excluding asset write-down charges, resulted in a net loss of $2,427,523, or $0.14 per common share, on total revenue of $26,897,071. This is in comparison to a net loss of $2,367,179, or $0.14 per common share, on total revenue of $20,597,860 for the fiscal year ended March 31, 2000.
Earnings before interest, taxes, depreciation and amortization for the fiscal year, before the foregoing charges, was $386,760 or $0.02 per common share versus $236,612, or $0.01 per common share, last year. Net loss for the fiscal year ended March 31, 2001, including charges, was $3,140,122, or $0.18 per common share. In comparison, the company had a net loss of $6,471,807, or $0.39 per common share, in the previous year.
Operations for the quarter ended March 31, 2001, before charges related to the write-down of assets, resulted in a net loss of $806,234, or $0.05 per common share, on total revenue of $6,587,615. This is in comparison to a net profit of $13,866, or nil per common share, on total revenue of $5,831,444 for the fourth quarter last year. Net loss for the quarter ended March 31, 2001, including charges, was $1,302,015, or $0.08 per common share, compared to a net earnings of $13,866, or nil per common share.
