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Maxwell Technologies (MXWL) Q1 Loss In Line, Sales up Y/Y
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Maxwell Technologies, Inc. reported adjusted loss of 16 cents per share in first-quarter 2018, in line with the Zacks Consensus Estimate. The figure was narrower than a loss of 23 cents in the year-ago quarter.
Excluding one-time items, the company incurred a GAAP loss of 25 cents per share, lower than the year-ago quarter’s loss of 32 cents.
Revenues
Maxwell Technologies’ first-quarter revenues of $28.4 million surpassed the Zacks Consensus Estimate of $28.2 million by 1%. The top line improved 6.5% from the year-ago quarter’s figure of $26.7 million.
Although high voltage revenues dropped 56.5% in the quarter, energy storage revenues improved 61.6%, which led to overall improvement in total revenues.
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise
In the quarter under review, the company’s cost of revenues was $22.7 million, up 10.5% year over year.
Total operating expenses were $15 million (or 52.9% of revenues) compared with $15.3 million (or 57.3% of revenues) in the prior-year quarter.
Interest expenses as of Mar 31, 2018 were $1 million compared with $0.06 million in the prior-year quarter.
Financial Condition
As of Mar 31, 2018, Maxwell Technologies had cash and cash equivalents of $40.1 million compared with $50.1 million as of Dec 31, 2017.
As of Mar 31, 2018, long-term debt (excluding current portion) was $35.6 million compared with $35.1 million as of Dec 31, 2017.
Guidance
Maxwell Technologies expects total revenues in the range of $28-$33 million in second-quarter 2018 and projects adjusted net loss to be 18 cents per share. Adjusted gross margin is expected to be 21.5% plus or minus 150 basis points. Adjusted operating expenses are projected in the range of $12.6-$13 million.
Zacks Rank
Maxwell Technologies carries a Zacks Rank #4 (Sell).
Performance of Other Electronics - Miscellaneous Components
The companies delivered an average positive earnings surprise of 9.93%, 7.54% and 9.39%, respectively, in the past four quarters.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Maxwell Technologies (MXWL) Q1 Loss In Line, Sales up Y/Y
Maxwell Technologies, Inc. reported adjusted loss of 16 cents per share in first-quarter 2018, in line with the Zacks Consensus Estimate. The figure was narrower than a loss of 23 cents in the year-ago quarter.
Excluding one-time items, the company incurred a GAAP loss of 25 cents per share, lower than the year-ago quarter’s loss of 32 cents.
Revenues
Maxwell Technologies’ first-quarter revenues of $28.4 million surpassed the Zacks Consensus Estimate of $28.2 million by 1%. The top line improved 6.5% from the year-ago quarter’s figure of $26.7 million.
Although high voltage revenues dropped 56.5% in the quarter, energy storage revenues improved 61.6%, which led to overall improvement in total revenues.
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise | Maxwell Technologies, Inc. Quote
Operational Highlights
In the quarter under review, the company’s cost of revenues was $22.7 million, up 10.5% year over year.
Total operating expenses were $15 million (or 52.9% of revenues) compared with $15.3 million (or 57.3% of revenues) in the prior-year quarter.
Interest expenses as of Mar 31, 2018 were $1 million compared with $0.06 million in the prior-year quarter.
Financial Condition
As of Mar 31, 2018, Maxwell Technologies had cash and cash equivalents of $40.1 million compared with $50.1 million as of Dec 31, 2017.
As of Mar 31, 2018, long-term debt (excluding current portion) was $35.6 million compared with $35.1 million as of Dec 31, 2017.
Guidance
Maxwell Technologies expects total revenues in the range of $28-$33 million in second-quarter 2018 and projects adjusted net loss to be 18 cents per share. Adjusted gross margin is expected to be 21.5% plus or minus 150 basis points. Adjusted operating expenses are projected in the range of $12.6-$13 million.
Zacks Rank
Maxwell Technologies carries a Zacks Rank #4 (Sell).
Performance of Other Electronics - Miscellaneous Components
A few better-ranked stocks in the same industry are Littelfuse, Inc. (LFUS - Free Report) , TE Connectivity Ltd. (TEL - Free Report) and OSI Systems, Inc. (OSIS - Free Report) . Littelfuse sports a Zacks Rank #1 (Strong Buy), while TE Connectivity & OSI Systems carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The companies delivered an average positive earnings surprise of 9.93%, 7.54% and 9.39%, respectively, in the past four quarters.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>