Enova Sales Up, But Widens Q1 Loss

0

Enova Systems Inc. reported a wider first-quarter loss Friday due to greater expenses.


Enova posted a net loss of $2.67 million for the three months ended March 31, greater than the loss of $1.19 million in the same period a year earlier. It was hurt by an 86 percent hike in selling, general and administrative expenses and a 191 percent jump in research and development expenses, the company said.


Revenues for the Torrance-based digital power components supplier jumped 53 percent to $2.28 million.


Enova added that while it has seen indications for growth there can be no assurance there will be continuing demand for its products and services.


Shares in Enova were down 2 percent to $4.71 in early trading Friday.

No posts to display