Originally published at www.seclive.com
Filing in Focus: Tesla 8-K, February 14, 2014
Tesla Motors, Inc. (NASDAQ:TSLA) announced its fourth fiscal quarter results for 2013, beating analyst earnings estimates. The company earned $46M and $0.33 per share, beating the $0.20 per share estimates handily. On an adjusted basis, the company lost $16M and $0.13 per share, though analysts are very pleased with the initial numbers reporting. Tesla sold 6,892 Model S sedans in fourth quarter and is projecting 35,000 vehicles sold for the year, a 55% improvement from 2013. Tesla production will be impacted by battery supply in the first half of the new fiscal year, but expects production to ramp up from 600 vehicles per week to nearly 1,000. CEO Elon Musk looks forward to the 2014 fiscal year and is very pleased with the company's performance.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.