A123 Systems Stock Shaky after 2010 Net Earnings Loss of 1.56 per share

Torquenews reports: Despite 2010 total revenue being up and product revenue being down, A123 Systems (Nasdaq: AONE) stock appears shaky due to net earnings loss of $1.56 per share.

The report is quoted as saying:

David Vieau, CEO of A123 Systems said, “During 2010 we more than doubled A123′s worldwide manufacturing capacity on an annual basis, and put in place the foundation to support rapid growth in the years ahead.

He added, “A123′s momentum is strong and we have expanded our portfolio of blue-chip customers in each of our target markets. We were awarded a production contract with a major North American automaker for an electric passenger car that is expected to enter the market during 2013, and we were recently selected by three new customers for commercial vehicle programs that we expect to enter production starting in 2012. In addition, we believe that A123′s selection by AES to provide energy storage systems for a second power plant in Chile, combined with our work with power generation equipment manufacturers, reinforces our worldwide leadership position in the electric grid market.”

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