Green Automotive Revenues Up in First Quarter Driven by Shuttle Bus Sales
Green Automotive Company (OTCQB: GACR) has announced financial results for its fiscal 2014 first quarter, ended March 31, 2014 in which the company posted quarterly revenue of $1.235m, up from $218K reported for Q1 2013.
The increase is largely attributable to strong growth in sales at the company’s Newport Coachworks business.
“We are proud of our quarterly results, especially our record shuttle bus sales that we started manufacturing only in February 2013. We are experiencing strong demand for our high quality buses, especially our CNG models that allow customers to reduce CO2 emissions and total cost of ownership,” said Ian Hobday, CEO of Green Automotive Company.
“Our operating loss has seen a big reduction in relation to our revenue, which we expect to continue during 2014,” continued Hobday.
More at: www.thegreenautomotivecompany.com
Category: General Update
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