Quantum Expects To Report Strong Sequential Product Revenue Growth In Q4

(RTTNews) - Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW), a global leader in natural gas storage systems, integration and vehicle system technologies, announced that it expects to report strong sequential revenue growth for its fourth quarter ending December 31, 2014.

The company expects product sales for the fourth quarter to double relative to the level reported for the third quarter of 2014 due to strong customer demand for its natural gas fuel storage systems. The Company also anticipates that it will report a robust product backlog of about $17.8 million at December 31, 2014 which is approximately $3 million higher than the $14.8 million the company reported for the end of the third quarter.

The company said it also expects to report a moderate improvement in its loss from continuing operations for the fourth quarter as compared to the third quarter which is driven primarily by increased product revenues and improved product margins. Finally, the Company believes that overall revenues will grow approximately 40% to 50% in 2015 based on existing and anticipated orders from its growing customer base and that related product margins will continue to improve during this period.