- Polar Power (POLA -6.6%) reported Q2 sales growth of 58.6% Y/Y to $9.2M, company says additional plant capacity has positively impacted revenue and production efficiency.
- Q3 Gross margin declined by 340 bps to 32.1%; and operating margin improved by 210 bps to 6.2%.
- Backlog was $7.6M, compared to $5.8M at end of Q2 2018, increase was due to the increased sales of DC power systems to Tier-1 telecom customers.
- Net cash from operating activities YTD was $61.91k, compared to $2.29M used a year ago.
- Cash and cash equivalents of $5.43M, as of June 30, 2019.
- Company plans to roll out new products designed to increase their market share with domestic Tier-1 and Tier-2 customers as well as in the with overseas telecom markets as they build and automate production facilities.
- Previously: Polar Power beats on revenue (Aug. 12)