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UQM Technologies fiscal Q3 loss widens 73.0% YOY

UQM Technologies Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted 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 grew 59.6% year over year from 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $857,170, compared with a loss of $495,350 in the prior-year period.

The normalized profit margin fell to negative 102.6% from negative 24.3% in the year-earlier period.

Total revenue decreased 59.0% year over year to $835,640 from $2.0 million, and total operating expenses fell 22.1% from the prior-year period to $2.2 million from $2.8 million.

Reported net income came to a loss of $1.4 million, or a loss of 3 cents per share, compared to a loss of $65,910, or a loss of 0 cents per share, in the year-earlier period.