Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Tesla Motors Q3 Loss Widens - Quick Facts

RELATED NEWS
Trade TSLA now with 

Tesla Motors, Inc. (TSLA: Quote) released its third quarter 2012 financial results. Net loss widened to $110.80 million from $65.08 million last year. Net loss per share was $1.05 compared to a loss of $0.63 prior year. Total revenues decreased to $50.10 million from $57.67 million last year.

Adjusted net loss per share was $0.92 for the quarter. Analysts polled by Thomson Reuters expected the company to report a loss of $0.90 per share on revenue of $48.29 million for the quarter. Analysts' estimates typically exclude special items.

The company said gross margin was negative 17%, in line with previous guidance, primarily because the cost of automotive sales reflects the full burden of operating Tesla factory allocated over a limited number of vehicles produced, along with launch-related variable cost inefficiencies.

The company maintained its 2012 revenue guidance of $400 million-$440 million. Towards the end of the quarter, the company expect to achieve positive free cash flow in spite of short term cost inefficiencies.

Click here to receive FREE breaking news email alerts for Tesla Motors, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Proctor and Gamble (PG) has sold two of its soap brands to European consumer products giant Unilever (UN). Cincinnati-based P&G says the sale includes the global Camay brand, the Zest brand outside of North America and its Talisman manufacturing plant in Mexico. The plant employs approximately... Dish Network is no longer carrying Fox News in yet another dispute for the television provider. Fox News, which changed the face of cable news with its ardent advocacy of conservative issues, went dark Sunday, replaced on Dish by The Blaze, Glen Beck's new right-leaning channel. Fox Business channel... Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.