Exhibit 99.1

Picture 6

 

 

 

 

For Immediate Release

 

 

 

For more information contact: 

Annie Leschin

 

StreetSmart Investor Relations

 

415-775-1788

 

       or                                

 

David I. Rosenthal                      

 

UQM Technologies, Inc.            

 

303-682-4900                              

 

 

UQM Technologies Reports Fourth Quarter and

Fiscal Year 2014 Operating Results

 

 

LONGMONT, COLORADO, MAY 29, 2014 - UQM TECHNOLOGIES, INC. (NYSE MKT: UQM),

a developer of alternative energy technologies, today announced operating results for the fourth quarter and fiscal year ended March 31, 2014. Total revenue for the quarter was $1.0 million compared to $1.7 million for the same quarter last year. Net loss for the fourth quarter was $1.4 million, or $0.04 per common share. This compares to a net loss of $2.3 million, or $0.06 per common share for the same period last year.

 

For the year ended March 31, 2014, total revenue was $7.05 million, a 2% decrease from the prior year. Net loss was $2.8 million, or $0.07 per common share, compared to $10.7 million, or $0.29 per common share last year.  As of March 31, 2014, cash and short-term investments improved to $10.3 million and working capital was $20.0 million versus $4.5 million and $16.0 million last year, respectively.

 

“Despite a slower than expected fourth quarter due primarily to the delayed start for the 2014 California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), our performance for the fiscal year remained solid with increased product sales, higher gross margins and decreased losses,” said Eric R. Ridenour, UQM Technologies’ President and Chief Executive Officer. ”We continue to execute our business development activities in promising regions such as Asia, Europe and North America. In particular, we added two new customers since January in Indonesia and Turkey as we focus on expanding our customer base and worldwide footprint. With a strong balance sheet bolstered by a successful capital raise during the fourth quarter and a lower cost structure in place, we are excited about the opportunities ahead in fiscal 2015.”

UQM TECHNOLOGIES, INC. 4120 SPECIALTY PLACE, LONGMONT, COLORADO 80504  (303) 682-4900  FAX (303) 682-4901


The following information was filed by Uqm Technologies Inc (UQM) on Thursday, May 29, 2014 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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