Active Power Q1 Net Loss Widens

(RTTNews) - Active Power Inc. (ACPW) Tuesday announced a wider net loss for the first quarter to $4.055 million from $1.559 million in the prior year. On a per share basis, loss was $0.18, wider than $0.07 last year.

On average, 2 analysts polled by Thomson Reuters expected the company to record loss of $0.15 per share. Analysts estimates usually exclude special items.

Total revenues for the quarter plunged to $5.665 million from $13.129 million in the previous year. Product revenues fell to $2.84 million from $9.548 million last year, while services and other revenues declined to $2.825 million from $3.581 million in the prior year. Wall Street was looking for revenue of $10.08 million.

Further, the company said it appointed Daryl Dulaney and Steven Sams as directors.