UQM Announces Second Quarter Results

UQM reports increased revenue for the second quarter, and remains optimistic for the future as it continues to see interest and momentum in its business.

UQM Technologies Inc., a developer of alternative energy technologies, announces operating results for the second quarter ended June 30, 2017. Total revenue for the quarter was $1.8 million compared to $1.4 million in the second quarter last year. Net loss for the second quarter was $1.3 million, or $0.03 per common share. This compares to a net loss of $2.0 million, or $0.04 per common share for the same period last year. 

“We had a solid second quarter with higher sales of our PP220 and fuel cell compressor systems,” says Joe Mitchell, UQM Technologies’ President and Chief Executive Officer. “We continue to see good traction on our China partnership initiatives and are optimistic about the future given the interest and momentum we are seeing in the business.”