Kandi Technologies Reports First Quarter 2020 Financial Results

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Go back to Kandi Technologies Reports First Quarter 2020 Financial Results

Kandi Technologies Group (KNDI) Reports Q1 Loss of $0.03 on Revenues of $6.4M

June 5, 2020 7:03 AM EDT

Kandi Technologies Group (NASDAQ: KNDI) reported Q1 EPS of ($0.03), versus ($0.09) reported last year. Revenue for the quarter came in at $6.4 million, versus $18.1 million reported last year.

First Quarter Highlights

Total revenues decreased 64.7% to $6.4 million for the first quarter of 2020, from $18.1 million in the same period of 2019.Electric Vehicle (EV) parts sales decreased 83.7% to $2.1 million for the first quarter of 2020, compared with $12.8 million in the same period of 2019. Off-road vehicle revenues decreased 23.8% to $4.0 million for the first quarter of 2020 compared with $5.3 million in the same period of 2019.Gross margin for... More