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Enerpulse Technologies, Inc. (ENPTE) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2015

Enerpulse Technologies, Inc.

CIK: 1495899 Ticker: ENPTE

 

Exhibit 99.1

 

Enerpulse Technologies Announces Second Quarter Highlights and Results

 

ALBUQUERQUE, NM--(Marketwired - Aug 13, 2015) - Enerpulse Technologies (OTCQB: ENPT) manufacturer of Pulstar® spark plugs, announced today its financial results for the second quarter ended June 30, 2015.

 

Second Quarter Highlights

 

·Sales revenue is up 11.9% for the second quarter.
·Sales revenue is up 12.6% year to date through June 30th.
·Gross profit is up 318% for the second quarter.
·Gross Profit is up 477% year to date through June 30th.
·Margins improved over prior year same period to 40.9% for second quarter.

 

Corporate Update for Second Quarter Ended June 30, 2015:

 

"The second quarter was very successful for Enerpulse Technologies," commented Joe Gonnella, Chief Executive Officer of Enerpulse Technologies, "We strengthened our commercial organization with hiring Matt Ingram as Vice President of Sales, initiated a very effective marketing initiative in the performance vehicle and motorcycle segments and advanced our positions in the natural gas and automotive OEM verticals."

 

Mr. Gonnella continued, "Our marketing initiative, focused on performance vehicle and motorcycle verticals, is working. In Q-2, 2015, our year over year sales continued to improve. In addition, Hoer Racing, a PWA member, recently placed their first stocking order as a new distributor focused on the performance vehicle segment. Our milestone to finalize product design revisions to meet service life requirements in the highly lucrative Natural Gas industrial engine segment is near completion. Customer field testing will commence in early Q-4, 2015 with commercial sales expected in late Q-4, 2015 or early Q-1, 2016. We also continue to engage automotive and Natural Gas engine OEM's with collaborative testing which will generate greater shareholder value in the long term."

 

For more information call 888-800-6700 or please visit www.enerpulse.com.

 

Results for Three Months Ended June 30, 2015:

 

For the three months ended June 30, 2015, the Company reported revenue of $104 thousand, an increase of 11.9% compared to $93 thousand for the three months ended June 30, 2014. The increase in revenue was, primarily due to spring marketing campaign and new distribution.

 

Gross profit increased by 318% to $43 thousand for the three months ended June 30, 2015 compared to $10 thousand for the three months ended June 30, 2014 as a result of the increase in sales offset by decreased costs of sales driven by manufacturing process improvements, improved labor utilization and improved design and operating procedure related to the release of Pulstar with PlasmaCore. The gross profit margin was 40.9% for the three months ended June 30, 2015, which is higher than that of 10.8% for the three months ended June 30, 2014, due primarily to the favorable impact of the above factors on the period ended June 30, 2015.

 

Selling, general and administrative expenses decreased by 21.6% from $1,069 thousand for the three months ended June 30, 2014 to $838 thousand for the three months ended June 30, 2015. The decrease is primarily as a result of additional expense in 2014 due to re-pricing and accelerated vesting of outstanding stock options to purchase approximately 676,000 shares of our common stock previously granted to officers, directors, employees and consultants, which resulted in additional stock-based compensation of approximately $32,000, as well as approximately $293,000 associated with accelerating the unvested stock-based awards granted prior to that date.

 


The following information was filed by Enerpulse Technologies, Inc. (ENPTE) on Friday, August 14, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Enerpulse Technologies, Inc. provided additional information to their SEC Filing as exhibits

Ticker: ENPTE
CIK: 1495899
Form Type: 10-Q Quarterly Report
Accession Number: 0001144204-15-049336
Submitted to the SEC: Fri Aug 14 2015 9:17:01 AM EST
Accepted by the SEC: Fri Aug 14 2015
Period: Tuesday, June 30, 2015
Industry: Motor Vehicle Parts And Accessories

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