About Quantum -> www.qtww.com.
Quantum is a leader in powertrain engineering, system integration, and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications, including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements, and high performance engines and drive trains for OEMs and consumers of specialty equipment parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles.
Quantum has product commercialization alliances with General Motors, AM General, Sumitomo, and IMPCO. Quantum's customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, Sunline, Yamaha, AeroVironment, and the U.S. Army.
More information can be found about Quantum's products and services at www.qtww.com.
Zu den Zahlen:
Total revenue reached $63.2 million in the second quarter of fiscal 2006 compared to $5.0 million in the second quarter of fiscal 2005. This increase in overall revenue is a result of the inclusion of Tecstar Automotive Group's operations, which contributed $58.4 million to consolidated revenues in the second quarter.
The Company's operating loss decreased from $3.5 million in the second quarter of fiscal 2005 to $2.6 million in the second quarter of fiscal 2006, primarily driven by $3.0 million in operating income from the Tecstar Automotive Group operating segment and was partially offset by increased operating losses in the Quantum Fuel Systems and Corporate segments. The Company's net loss decreased from $3.3 million, or $0.10 a share, in the second quarter of fiscal 2005 to $3.0 million, or $0.06 a share, in the second quarter of fiscal 2006. Cash used in operations during the quarter was $3.6 million, mainly driven by an increase in accounts receivable as a result of the higher sales level during the quarter. Depreciation and amortization expense was $2.8 million for the second quarter of fiscal 2006, compared to $1.1 million in the prior year second quarter.
Tecstar Automotive Group operating segment revenues during the quarter were $58.4 million, representing an approximate 14.7% increase on a pro forma basis compared to the second quarter of fiscal 2005. Product sales for the Tecstar Automotive Group totaled $55.2 million during the second quarter of fiscal 2006, consisting of $33.6 million in second-stage automotive manufacturing revenues, $20.3 million in automotive OEM accessory parts revenues, and other product sales of $1.3 million. Cost of product sales for the Tecstar Automotive Group was $49.4 million in the second quarter of fiscal 2006. Contract revenue for the Tecstar Automotive Group was $3.2 million for the second quarter of fiscal 2006.
Quantum Fuel Systems operating segment revenues during the quarter were $4.8 million, representing a 4% decrease over the prior year's second quarter, which was $5.0 million. This segment had an operating loss of $3.3 million compared to an operating loss of $2.3 million in the second quarter of fiscal 2005. This increase was primarily a result of higher cost of product sales and higher research and development expenditures to support customer-funded development programs.
For the six-month period, the Company reported consolidated revenues of $110.5 million compared to $11.3 million for the six-month period in fiscal 2005. The increase in revenue is a result of the inclusion of Tecstar Automotive Group's operations, which contributed $101.4 million to consolidated revenues and $1.7 million in operating income in the first six-months of fiscal 2006. The Quantum Fuel Systems segment had revenues of $9.1 million and an operating loss of $7.5 million for the first half of fiscal 2006 compared to revenues of $11.3 and an operating loss of $3.6 million for the first half of fiscal 2005. The Company's net loss increased from $5.7 million, or $0.18 a share, for the six month of fiscal 2005 to $11.2 million, or $0.21 a share, for the six month period of fiscal 2006.
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