Canaccord Genuity Downgrades Maxwell Technologies (MXWL) to Hold
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Maxwell Technologies Reports First Quarter Financial Results
April 23, 2015 4:02 PM EDTSAN DIEGO, April 23, 2015 /PRNewswire/ -- Maxwell Technologies, Inc. (Nasdaq: MXWL) today reported revenue of $34.7 million for its first quarter ended March 31, 2015, down 25 percent from the $46.0 million recorded in the first quarter of 2014.
First quarter ultracapacitor revenue was down 31 percent compared with the $32.0 million recorded in the first quarter of 2014. Sales of high voltage capacitor and microelectronics products totaled $12.7 million in Q115, down 9 percent from the $14.0 million recorded in Q114.
"First quarter revenue and gross margin were in line with our guidance," said Dr. Franz Fink, Maxwell's president and CEO.... More
