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Zinc-air fuel cell maker Electric Fuel marginally improved its quarterly revenue, reduced expenses and narrowed its net loss in the first quarter ended March 31.
Revenue was $726,000 in the first three months, compared with $725,959 in the year-ago period. Revenue was $1.1 million in the preceding quarter.
Net loss for the first quarter was reduced to $3.3 million, down from $3.7 million in the same three months in 2001, and down from $4.9 million in the preceding quarter.
Electric Fuel, which said it had about $13 million in cash and cash equivalents as of March 31, said the combination of a narrowed loss and increased cash-on-hand would allow it to focus both on its retail sales as well as sales and marketing efforts in the defense and security sectors.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.