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Maxwell Technologies (MXWL) Q1 Loss In Line, Sales up Y/Y

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Maxwell Technologies, Inc.MXWL 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 , TE Connectivity Ltd. TEL and OSI Systems, Inc. OSIS . 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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