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USA: Wider loss despite sales growth expected at Tesla

Silicon Valley / San Jose Business Journal
Date: Sunday, February 12, 2012, 8:23am PST

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Technology, Environment, Energy

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Tesla Motors CEO Elon Musk is expected to announce a wider loss despite increased revenue on Wednesday. The company is winding down sales of its signature $109,000 Roadster, shown here, as it shifts to a new $50,000 Model S sedan and a Model X SUV whose price has yet to be announced.

Wall Street will get fresh earnings news from Tesla Motors Inc. on Wednesday, as it winds down sales of its signature Roadster and revs up its next two models — the Model S sedan and Model X SUV.

The Palo Alto electric car maker (NASDAQ:TSLA) is expected to post a wider loss of about 69 cents a share compared to 55 cents in the same quarter last year. The company beat estimates last quarter, posting a loss of 63 cents when analysts had projected 66 cents.

Revenue is expected to rise 6 percent from a year ago to $38.5 million.

The company last week unveiled its third model, a “falcon-winged” sport utility vehicle dubbed the Model X, claiming it is faster than a Porsche 911 sports car with its acceleration of 0 to 60 in less than 5 seconds. No range or price estimates were given.
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