UPDATE: ECOTality Shares up 14%, Hits New 52-Week Top As Earnings Momentum Continues; Early On Looked Like It Mightn't
After some indecision in early dealings, the market has decided to continue celebrating ECOtality's ( ECTY ) Q4 earnings report released Monday, as shares have ascended to a new 52-week zenith of $1.56. They are currently trading a bit off that level, but are up.
The company reported that Q4 2012 revenue increased 60% to $13.6 million from
$8.5 million a year prior. That's more than the $10.82 million analysts
expected. Net loss for Q4 2012 was $2.3 million, or $0.10 per basic and diluted share, an improvement from a net loss of $6.7 million, or $0.28 per basic and diluted share, in the same year-ago quarter. That's an improvement over the $0.16 per share loss the Street expected.
The company posted similar sales and earnings surprises last quarter.
ECTY posted an early day low of $1.31 having opened at $1.34, but they went positive mid-afternoon and have been strong since.
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