Tesla shares hit a record on earnings news Orlando Sentinel

19 Апр 2014 | Author: | Комментарии к записи Tesla shares hit a record on earnings news Orlando Sentinel отключены
Tesla Model X

Tesla shares hit a record on news

For the full year, lost $74 million, an improvement its 2012 loss of $396.2 Revenue rose almost to slightly more than $2

By Jerry Hirsch

9:14 EST. February 19, 2014

of Tesla Motors Inc. Wednesday after the electric car slashed its losses and issued an outlook for this year.

shares jumped to a record a 12% gain, after the automaker its fourth-quarter and annual financial after the stock market

Investors focused on Tesla’s that it earned $46 million, or 33 a share, in the latest quarter, making special adjustments to for the deferred profit from leases and other factors. exceeded the Wall Street consensus of 21 cents a share.

Chief Executive Elon said that car production at factory in Fremont, Calif. increase from the current of 600 vehicles a week to 1,000 a near the end of 2014.

He said for its electric cars could a rate of 50,000 sales by then, more than the 22,450 Model S cars it last year. The cars for $70,000 to $100,000, depending on Tesla is building a new assembly at the factory to help it ramp up

Pictures: Orlando power

But by so-called GAAP, or traditional Tesla only narrowed its to $16.3 million in the fourth compared with a deficit of million in the same period a earlier.

For the full year, the lost $74 million, an improvement its 2012 loss of $396.2

Revenue more than to $615.2 million for the quarter. for the year rose almost to slightly more than $2

The annual revenue included million from the sale of environmental credits last and at least an additional $15 million in credits, the automaker said.

But increased car sales were the Palo Alto automaker’s

We produced more cars originally expected in the quarter, by manufacturing, design and quality but also strong efforts our supply chain, Musk

Analysts say the automaker needs to more cars and drive costs to become consistently

Tesla Model X

Tesla is starting to gain type of scale, Musk and expects to deliver more 35,000 Model S vehicles in a 55% increase over 2013.

The plans to come out with its model, the Model X sport vehicle, based on the Model S, this year.

Model X demand is very even though there has zero marketing, Musk It is like the fish are jumping in the

For much of the last year, enough batteries to power its cars has limited sales. But said Tesla’s battery supply will improve in the second half of 2014.

its battery supply and reducing presents a significant opportunity, Craig Irwin, an analyst Wedbush Securities.

Tesla has the to dramatically reduce the cost of the by almost half in roughly the three to five years, said.

That cost reduction would make Tesla’s generation three electric car a expected to sell for less $40,000 to be an economically viable, car, Irwin said. But model would not hit the market for years.

Despite its losses, remains well capitalized. said it probably will back into the capital to raise more money year.

Its cash on hand to $846 million at the end of 2013 as the generated $130 million of cash flow and $40 million of free cash flow flow from operations capital expenditures) in the quarter.

Twitter: @latimesjerry

Tesla Model X
Tesla Model X
Tesla Model X
Tesla Model X
Tesla Model X
Tesla Model X
Tesla Model X
Tesla Model X


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