UQM Technologies Inc., a developer of alternative energy technologies, has announced operating results for the second quarter of fiscal year 2017. Total revenue for the quarter was $1.0 million compared to $1.7 million in the second quarter last year. Net loss for the second quarter was $2.4 million, or $0.05 per common share. This compares to a net loss of $2.4 million, or $0.06 per common share for the same period last year.
“Revenue was lower this quarter primarily because of higher sales of fuel cell systems last year,” says Joe Mitchell, UQM Technologies’ President and Chief Executive Officer. ”We continue to see good traction on our China initiatives and believe higher volume shipments should begin in early 2017.”