Maxwell Technologies, Inc.MXWL incurred adjusted loss of 14 cents per share in the second quarter of 2015, in line with the Zacks Consensus Estimate of loss. However, reported loss was wider than the year-ago level of 4 cents per share. Lower revenues were primarily responsible for the company reporting in the red.
On a GAAP basis, the company reported much wider net loss of 31 cents per share compared with 4 cents in second-quarter 2014.
Maxwell Technologies' second-quarter revenues of $37.8 million tumbled 18% year over year due to lower sales of ultracapacitor (31% year over year), partially offset by higher sales of high-voltage capacitor and microelectronics products (18%).
In the quarter under review, Maxwell Technologies' cost of revenue was $25.6 million, down 13% year over year.
Adjusted operating expenses were $14.6 million in the quarter, or 39% of revenue, compared with $16.0 million, or 35% of revenue, in the prior-year quarter.
As of Jun 30, 2015, Maxwell Technologies had cash and cash equivalents of $25.0 million compared with $24.7 million as of Dec 31, 2014.
Long-term debt (excluding current portion) was $0.005 million as of Jun 30, 2015, down from $0.02 million as of Dec 31, 2014.
Maxwell Technologies currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Active Power Inc. ACPW , sporting a Zacks Rank #1 (Strong Buy), and Fabrinet FN and LightPath Technologies, Inc. LPTH , both carrying a Zacks Rank #2 (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 >>
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