Workhorse Group (NASDAQ: WKHS) reported Q2 EPS of $, versus ($0.14) reported last year. Revenue for the quarter came in at $200 thousand versus the consensus estimate of $200 thousand.

"The second quarter represented a continuation of our plan to strategically retool our manufacturing facility in order to support the production of our next generation of delivery vehicles," said Workhorse CEO Steve Burns. "While the process remains ongoing, we are making meaningful strides toward increasing our capacity to systematically scale our business for our future growth plans. Concurrently, we are diligently working to secure multiple sources of capital to fund our operations over the long-term."

• Sales for the second quarter of 2018 were recorded at $0.2 million, down from $0.3 million in the same period of 2017. The decrease was primarily due to a decrease in volume of trucks sold.
• Selling, general and administrative expenses increased 16% to $3.0 million from $2.6 million in the same period last year. The increase in selling, general and administrative expenses was primarily related to higher advertising expenses during the period.
• Research and development expenses decreased 67% to $1.9 million from $5.8 million in the same period last year. The decrease in research and development expenses was due to the decrease in prototype expenses for the United States Postal Service (USPS) Next Generation Delivery Vehicle (NGDV) and SureFly.
• Total operating expenses decreased 42% to $4.9 million from $8.4 million in the second quarter of last year. The decrease in total operating expenses was due to a decrease in prototype expenses for the both USPS NGDV and SureFly, which was offset by higher advertising expenses during the period.
• Net loss was $6.9 million, compared with a net loss of $9.2 million in the same period last year. This is due primarily to a decrease in volume of trucks sold and lower level of operating expenses.
• As of June 30, 2018, the company had cash, cash equivalents and short-term investments of $0.6 million compared to $4.1 million as of December 31, 2017.

For earnings history and earnings-related data on Workhorse Group (WKHS) click here.