Enerpulse Technologies Announces First Quarter Highlights and Results
(firmenpresse) - ALBUQUERQUE, NM -- (Marketwired) -- 05/21/15 -- (OTCQB: ENPT) manufacturer of Pulstar® spark plugs, announced today its financial results for the first quarter ended March 31, 2015.
Closed $3.05 million senior subordinated convertible notes on February 20, 2015
Sales revenue is up in 13% over prior year same period
Gross profit is up 733% from $6 thousand for the three months ended March 31, 2014 to $53 thousand for the three months ended March 31, 2015
Margins improved substantially over prior year same period from 6.5% to 48%, due to a number of factors including better utilization of production labor and direct overhead for period ending March 31 2015
"The first quarter marked an important time for Enerpulse Technologies," commented Joe Gonnella, Chief Executive Officer of Enerpulse Technologies. "We successfully completed our private placement and are now able to move forward on a number of fronts and execute our operational strategy."
Mr. Gonnella continued, "We are busy commercializing additional product models to support the Natural Gas vehicular and industrial markets. We are also launching a targeted marketing plan to promote aftermarket growth specific to the highly responsive performance vehicle and motorcycle segments. These successes represent key milestones in generating increased revenue and are central to our continued commitment to move toward profitability in the automotive aftermarket and Natural Gas channels. We also continue to engage automotive and Natural Gas engine OEM''s with collaborative testing which will generate greater shareholder value in the long term."
For more information call 888-800-6700 or please visit .
For the three months ended March 31, 2015, the Company reported revenue of $110 thousand, an increase of 13.2% compared to $97 thousand for the three months ended March 31, 2014. The increase in revenue was, primarily due to the introduction of the Pulstar with PlasmaCore new product line midyear 2014.
The company''s gross profit increased by 733% from $6 thousand for the three months ended March 31, 2014 to $53 thousand for the three months ended March 31, 2015 as a result of the increase in sales offset by decreased costs of sales driven by manufacturing process improvements, improved labor utilization and improved design and operating procedure related to the release of Pulstar with PlasmaCore. The gross profit margin was 47.9% for the three months ended March 31, 2015, which is higher than that of 6.5% for the three months ended March 31, 2014, due primarily to the above factors impacting favorably on March 31, 2015 and transition to new components during the three months ended March 31, 2014.
Our Selling, general and administrative expenses decreased by 10.5% from $698 thousand for the three months ended March 31, 2014 to $625 thousand for the three months ended March 31, 2015. The decrease reflects the efforts by the Company to limit spending until the closing of the February 20, 2015 debt offering.
Cash and cash equivalents totaled $2,238 thousand at March 31, 2015, up from $17 thousand on December 31, 2014. The increase is due to the successful completion of the private placement of senior secured convertible notes on February 20, 2015 and receipt of the associated proceeds.
(OTCQB: ENPT)
Enerpulse Technologies, Inc. is a publicly traded company headquartered in Albuquerque, N.M. Founded in 2004; the company develops and manufactures ultra-high performance, low emissions ignition products through the application of pulse power technology. For more information, visit .
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Information provided by the Company such as online or printed documents, publications or information available via its website may contain forward-looking statements that involve risks, uncertainties, assumptions, and other factors, which, if they do not materialize or prove correct, could cause its results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. These statements may include, among others, plans, strategies, and objectives of management for future operations, marketing and sales; any statements regarding proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of our business and other risks detailed from time to time in our filings with the Securities and Exchange Commission, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
Heather Tausch
Director of Marketing and Communications
505-999-2005
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Datum: 21.05.2015 - 04:00 Uhr
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