Tesla Q4 loss, revenue both about double
Tesla Motors Inc. on Tuesday said its fourth quarter loss more than doubled in the past year to $51.4 million, or 54 cents a share, as its revenue nearly doubled to $36.3 million.
Analysts had projected a loss of 50 cents a share on $34.3 million in revenue, from the Palo Alto electric car maker (NASDAQ:TSLA).
Last year's numbers earnings per share reflect a pre-IPO total of about 7 million vs. 94 million today.
Gross margin improved to 31 percent, up from 30 percent for the prior quarter.
Tesla Motors reaffirmed that it remains on schedule to deliver the Model S sedan it plans to make in Fremont in mid-2012. It said a fleet of Model S prototypes are being built for cold weather brakes testing, ride and handling, safety validation, electrical integration, and noise, vibration and harshness evaluation.
It said that installation of the manufacturing equipment at the former New United Motor Manufacturing Inc. plant continues on schedule, including significant progress with the installation of the hydraulic press line.
Read more more in the Silicon Valley/San Jose Business Journal.
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