LONDON, UK / ACCESSWIRE / April 17, 2018 / Active-Investors.com has just released a free earnings report on Ideal Power Inc. (NASDAQ: IPWR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=IPWR. Ideal Power reported its fourth quarter and fiscal 2017 operating and financial results on March 06, 2018. The power conversion technologies developer reported better than expected earnings results. Additionally, the Company produced its lowest cash burn in three years. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ideal Power most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For its fourth quarter ended December 31, 2017, Ideal Power's product revenue totaled $0.2 million versus $0.4 million in Q4 2016. The Company's reported numbers lagged behind analysts' estimates of $710.00 million.
Ideal Power's product revenue decreased 26% to $1.2 million in FY17 compared to product revenue of $1.6 million in FY16. The decline in quarterly and yearly revenue was due to lower selling prices for both the Stability and SunDial, Ideal Power's third generation 30 kilowatt products relative to the selling prices of the Company's legacy products.
During Q4 2017, Ideal Power's gross margins were negative 46% compared to negative 10% gross margins in Q4 2016. The compared gross margins were negatively impacted by asset impairments and warranty reserve adjustments related to the Company's discontinued first generation 30kW and 125kW products. Excluding these warranty reserve adjustment gross margins were 26% in the reported quarter as reduced manufacturing overhead and product costs.
During Q4 2017, Ideal Power's research and development (R&D) expenses decreased 38% to 0.8 million from $1.3 million in Q4 2016. The decrease was due primarily to lower personnel cost in connection with the Company's cost reduction activities and lower B-TRAN staff spending as Ideal Power focused its spend on the development of prototype standard rather than full featured B-TRAN's.
For Q4 2017, Ideal Power's net loss was $1.84 million, or $0.13 per diluted share, compared to net loss of $2.8 million, or $0.29 per diluted share, in Q4 2016. The Company's reported numbers were better than Wall Street's expectations for a loss of $0.17 per share.
For FY17, Ideal Power's net loss was $10.34 million, or $0.78 per diluted share, compared to net loss of $10.98 million, or $1.15 per diluted share, in FY16.
Cash Matters
During Q4 2017, Ideal Power's cash used in operating and investing activities was $1.7 million compared to $2.6 million in Q4 2016. The Company's cash used in operating and investing activities was $7.8 million compared to $10.8 million in FY16.
As of December 31, 2017, Ideal Power's cash and cash equivalents totaled $10.0 million, with no long-term debt outstanding.
Stock Performance Snapshot
April 16, 2018 - At Monday's closing bell, Ideal Power's stock rose 4.33%, ending the trading session at $1.45.
Volume traded for the day: 806.53 thousand shares, which was above the 3-month average volume of 390.66 thousand shares.
Stock performance in the last month – up 23.93%; previous three-month period – up 8.61%; and year-to-date – up 2.11%
After yesterday's close, Ideal Power's market cap was at $18.26 million.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.7% at the end of the session.
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