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Wednesday, Feb 20
More on Tesla: A Q1 profit is now expected; company had previously guided for a late 2013...
More on Tesla: A Q1 profit is now expected; company had previously guided for a late 2013 profit, and the Q1 EPS consensus is -$0.13. Over 2,750 Model S units were produced in Q4 vs.~350 in Q3. 2,400 units were delivered, up from 253 in Q3; 20K deliveries expected in 2013. Net reservations at end of Q4 totaled 15K, up 2K from end of Q3. Company plans to open 15-20 new stores/galleries and double service locations in 2013. Gross margin was 8% vs. -17% in Q3, expected to hit 25% in 2H. Opex +29% Y/Y to $114.7M. TSLA -5.7% AH. CC at 5:30PM ET (webcast). (PR)