Sevcon (SEV) Reports Q4 EPS of $0.01
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December 9, 2014 5:00 PM EST
SOUTHBOROUGH, Mass., Dec. 9, 2014 (GLOBE NEWSWIRE) -- Sevcon, Inc. (Nasdaq: SEV) today reported that it has entered into an agreement with a Tier-1 automotive supplier based in South East Asia, to supply motor controllers for a new line of hybrid electric passenger cars.
Under the contract, which could produce up to $50 million of revenue through 2020, Sevcon, who has been working with the supplier for some time, will design, manufacture and supply an advanced motor controller for a new line of hybrid electric 4-door sedans. Sevcon expects initial prototypes for fleet test vehicles to be... More
December 9, 2014 4:42 PM EST
SOUTHBOROUGH, Mass., Dec. 9, 2014 (GLOBE NEWSWIRE) -- Sevcon, Inc. (Nasdaq: SEV) reported financial results for the fourth quarter and fiscal year ended September 30, 2014.
Fourth-Quarter Fiscal 2014 Results Summary
Revenues increased 13 percent to $10.0 million, from $8.9 million in the fourth quarter of fiscal 2013, reflecting continued improvement in the Company's markets and startup of volume production with new customers. Foreign currency fluctuations increased reported sales by $180,000, or 2 percent, mainly due to a weaker U.S. dollar compared to the British Pound than in the fourth quarter of fiscal 2013.
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The Company recorded an operating...
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