Maxwell Technologies (NASDAQ: MXWL) reported Q2 EPS of ($0.11), $0.07 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $37.8 million versus the consensus estimate of $37.41 million.

"Second quarter revenue and gross margin were in line with our guidance and operating expenses improved substantially," said Dr. Franz Fink, Maxwell's president and CEO. "Operating expenses came in ahead of plan in the second quarter, already beating our quarterly target of $15 million on a non-GAAP basis originally targeted for Q4 of this year. The restructuring actions we are taking should allow us to achieve our goal of significantly accelerating our path to profitability."

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