OnLine Power Supply Announces Results for First Quarter 2001
OnLine Power Supply Inc. (Englewood, CO) announced results for its first quarter ended March 31, 2001. The company reported a net loss of $1,200,700, or $0.06 per share, on revenue of $202,400 in the quarter. This is in comparison with a net loss of $798,500, or $0.05 per share, on revenue of $12,400 in the same quarter a year ago. At March 31, the company had $7.0 million in cash equivalents and investments, $6.9 million in working capital, and $8.0 million in shareholders' equity.
Kris Budinger, president and CEO, commented, “We are pleased with the progress of our transition to commercial production mode and with the confidence our initial customer has shown in our ability to deliver high-performance power supplies in support of their infrastructure expansion efforts. We expect our gross margin performance to improve as our manufacturing processes mature, and as higher-volume production runs enable us to reduce our raw materials costs and improve overall operating efficiencies."