Tesla Motors Q4 Adj. Profit Tops Estimate

(RTTNews) - Tesla Motors, Inc. (TSLA) reported a net loss for the fourth quarter of $16.3 million or $0.13 per share, compared to a net loss of $89.9 million or $0.79 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $45.9 million or $0.33 per share, compared to an adjusted net loss of $74.6 million or $0.65 per share in the prior year quarter.

Total revenues for the fourth quarter rose to $615.22 million from $306.33 million in the same quarter last year. Adjusted revenue for the latest quarter was $761.34 million.

Analysts polled by Thomson Reuters expected the company to earn $0.15 per share on revenue of $615.44 million for the fourth quarter.

Looking forward, the company expects first quarter production to be about 7,400 vehicles, which is significantly higher than the prior quarter production of 6,587 cars. However, as the number of cars in transit to Europe and Asia must grow substantially to support those markets, the company plans to deliver about 6,400 vehicles in the first quarter.

The company also said it expects to deliver over 35,000 Model S vehicles in 2014, representing a 55+% increase over 2013.