Maxwell Technologies Q2 Loss Wider than Expected, Sales Beat - Analyst Blog

A generic image of many stacks of coins
Credit: Shutterstock photo

Maxwell Technologies, Inc. ( MXWL ) reported an adjusted loss of 4 cents per share in the second quarter of 2014 as against earnings of 12 cents per share in the year-ago quarter. Quarterly loss was wider than the Zacks Consensus Estimate of a loss of a penny. The year-over-year decline was due to lower revenues.

Maxwell Technologies, Inc - Earnings Surprise | FindTheBest


Maxwell Technologies' revenues of $46.1 million in the reported quarter surpassed the Zacks Consensus Estimate of $46 million by 0.2%. However, the reported top line dropped 17.1% year over year due to lower ultracapacitor (down 13.7% year over year) and high voltage capacitor and microelectronics products (down 25.6%) revenues.

Operational Highlights

In the quarter under review, Maxwell Technologies' cost of revenue was $29.5 million, down 13.2% year over year.

Total operating expenses edged down 1.1% to $17.2 million from $17.4 million a year ago.

In the second quarter, the company's interest expense was $0.03 million compared with $0.04 million in the prior-year quarter.

Business Update

In Jun 2014, Maxwell Technologies introduced a new 2.85 volt, 3400-farad ultracapacitor cell integrating its DuraBlue Shock and Vibration Technology. The introduction of the new cell will improve the performance of its K2 family of ultracapacitors and boost reliability.

Financial Condition

As of Jun 30, 2014, Maxwell Technologies had cash and cash equivalents of $30.7 million versus $30.6 million as of Dec 31, 2013.

Long-term debt (excluding current portion) was $0.07 million as of Jun 30, 2014, down from $0.1 million as of Dec 31, 2013.

During the first half of 2014, net cash from (used in) operating activities was ($0.6) million compared with $18 million in the year-ago period.


Maxwell Technologies expects revenues in third-quarter 2014 to decline approximately 15% from the preceding quarter on the basis of customer projections for bus and other ultracapacitor applications and contracts for microelectronics and high voltage capacitor products.

Other Earnings Releases

Ballard Power Systems Inc. ( BLDP ) reported a second-quarter 2014 loss of 3 cents, in line with the Zacks Consensus Estimate.

Littelfuse Inc. ( LFUS ) announced second-quarter 2014 earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.31 by 3.8%.

Zacks Rank

Maxwell Technologies currently has a Zacks Rank #3 (Hold). However, a better-ranked stock in the same industry is AVX Corporation ( AVX ), carrying a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

MAXWELL TECH (MXWL): Free Stock Analysis Report

AVX CORP (AVX): Free Stock Analysis Report

BALLARD PWR SYS (BLDP): Free Stock Analysis Report

LITTELFUSE INC (LFUS): Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

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.

In This Story


Other Topics


Latest Markets Videos


Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at

Learn More