October 28, 2011

UQM reports $1.6 million loss in Q3

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LONGMONT – UQM Technologies Inc., a developer of electric vehicle propulsion systems located outside Longmont, announced Thursday it lost $1.6 million in the quarter that ended Sept. 30 despite seeing a growth in revenue.

UQM Technologies executives said much of the loss was linked to increased production engineering expenses as the company is set to begin volume production of electric motors.

The loss, equivalent to 4 cents per diluted share, is a major increase from the $377,793 the company lost in the same quarter last year.

UQM Technologies reported sales of $2.3 million during the quarter, a 15.1 percent increase compared to the…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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