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UQM Technologies fiscal Q4 loss narrows YOY

UQM Technologies Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 2 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss decreased 16.3% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $821,930, compared with a loss of $948,730 in the prior-year period.

The normalized profit margin increased to negative 78.7% from negative 93.4% in the year-earlier period.

Total revenue climbed on an annual basis to $1.0 million from $1.0 million, and total operating expenses rose 27.0% from the prior-year period to $3.2 million from $2.5 million.

Reported net income totaled a loss of $1.3 million, or a loss of 3 cents per share, compared to a loss of $1.4 million, or a loss of 4 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 9 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 14 cents.

EPS was a loss of 6 cents in the prior year.

Normalized net income was a loss of $3.7 million, compared with a loss of $2.3 million in the prior year.

Full-year total revenue declined 43.0% year over year to $4.0 million from $7.0 million, and total operating expenses increased year over year to $10.9 million from $10.7 million.

The company said reported net income totaled a loss of $6.0 million, or a loss of 15 cents per share, in the full year, compared with a loss of $2.8 million, or a loss of 7 cents per share, the prior year.