UQM increases revenue, trims loss in second quarter

LONGMONT — UQM Technologies Inc. (NYSE: UQM), a developer of alternative energy technologies, on Monday reported a gain in revenue and less loss during the second quarter that ended June 30.

The Longmont-based company reported revenue fo $1.8 million for the quarter, up from $1.4 million for the same quarter a year ago.

Loss for the quarter was $1.3 million, or 3 cents per share, compared with a loss of $2 million and 4 cents per share for the same priod a year ago.

Joe Mitchell, UQM’s president and chief executive, called it a “solid second quarter,” pointing to higher sales of the company’s PP220 and fuel-cell compressor systems.

“We continue to see good traction on our China partnership initiatives and are optimistic about the future given the interest and momentum we are seeing in the business.”