Tesla Motors announced its fourth quarter and full year results for the fiscal year 2015. The Silicon Valley based auto maker announced record deliveries for the year of its premium sedan, Model S. New vehicle sales increased by 76% year over year resulting in a $179 million positive cash flow from core operations for the full year. However, on an aggregated basis, the company is still in a loss position, due to ongoing expenditures related to the production of Tesla’s new premium SUV (Model X), the construction of the Giga Factory, the production of the company’s energy storage product (Tesla Powerwall), and other expenditures related to product testing, research and development and testing. Still, there were several pointers towards the success of the Model S, which now holds a 25% market share in the premium sedan market in the U.S. There are early signs, moreover, of strong demand for the Model X.  The company is also set to unveil a prototype of the Model 3, its mass market electric car, on March 31.   Additionally, management posted encouraging guidance for a number of year-ahead metrics, including: 1) an improved gross margin for the Model S; 2) non-GAAP profitability for the full year and GAAP profitibiity for the fourth quarter; 3) a 60%-80% increase in new vehicle sales for 2016; and, 4) a March 31st unvieling of the Model 30 (as noted) with production and deliveries to follow in late.   Below, we take a look this quarter’s results and the outlook for the company going forward.

from Forbes – Tech http://ift.tt/20OBLqq
via IFTTT