Maxwell Technologies, Inc. (MXWL - Free Report) witnessed adjusted loss of 21 cents per share in the second quarter of 2017 (considering stock-based compensation as a regular expense), which was narrower than the Zacks Consensus Estimate of loss of 23 cents. On a year-over-year basis, the quarterly loss widened from the year-ago loss of 16 cents per share.
Excluding one-time items, the company incurred loss of 28 cents per share, substantially wider than earnings of 7 cents reported in the prior-year quarter.
Maxwell Technologies’ second-quarter revenues of $37.1 million surpassed the Zacks Consensus Estimate of $32 million by 16.1%. Also, the top line increased 8.8% from the year-ago figure of $34.1 million.
While high voltage revenues rose 1.5% in the quarter, ultracapacitor revenues improved 18.2%, resulting in an increase in total revenue.
In the quarter under review, the company’s cost of revenue was $29.3 million, up 21.2% year over year.
Total operating expenses were $16.5 million (or 44.5% of revenues) compared with $13.8 million (or 40.4% of revenues) in the prior-year quarter.
As of Jun 30, Maxwell Technologies had cash and cash equivalents of $19.2 million compared with $25.4 million as of Dec 31, 2016.
As of Jun 30, long-term debt (excluding current portion) was $0.06 million compared with $0.04 million as of Dec 31, 2016.
Maxwell Technologies expects total revenue in the range of $35–$38 million in the third quarter of 2017. While adjusted gross margin is anticipated to be 22.5%, adjusted operating expenses are projected in the range of $12.7–$13.1 million.
Maxwell Technologies currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TE Connectivity Ltd. (TEL - Free Report) scored its seventh consecutive earnings beat as it reported third-quarter fiscal 2017 adjusted earnings of $1.24 per share, surpassing the Zacks Consensus Estimate of $1.17 by 6%. In fact, the bottom line fared phenomenally increasing 14.8% year over year from the prior-year tally of $1.08. The figure also steered past the projected range of $1.14–$1.18.
Stoneridge, Inc.’s (SRI - Free Report) second-quarter 2017 adjusted earnings per share came in at 42 cents, beating the Zacks Consensus Estimate of 32 cents by 31.3%.
Ballard Power Systems, Inc. (BLDP - Free Report) incurred second-quarter 2017 loss of 2 cents per share compared with the Zacks Consensus Estimate of a loss of a penny.
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