The Car and Truck Fleet and Leasing Management Magazine

Odyne Corp. Provides Business Update and Reports Financial Results for 2006

April 16, 2007

HAUPPAUGE, NY – Odyne Corporation, a developer of advanced plug-in hybrid-electric vehicle (PHEV) technology for trucks and buses, has announced financial results for the full year ended Dec. 31, 2006. Total revenue for the 12 months ended Dec. 31, 2006, was $242,945, compared to $285,598 for the same period in 2005, representing a reduction of 15 percent. The decrease in revenue was caused by a decrease in non-recurring consulting revenues that was not offset by the increase in revenue related to PHEV technology. Operating loss for the 12 months ended Dec. 31, 2006, was $1.681 million, compared to an operating loss of $0.622 million for the same period last year. The increased operating loss was due to reduced gross profit related to sales mix, increased R&D spending, and increased G&A costs primarily related to the 2006 reverse merger and private placement. Net loss attributable to common stockholders for the 12 months ended Dec. 31, 2006 was $5.241 million, or $0.40 per share, compared to a net loss of $0.695 million or $0.06 per share, for the same period in 2005.
Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

A division of the U.S. Department of Transportation, established  Jan. 1, 2000, whose mission is to prevent commercial motor vehicle-related fatalities and injuries.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher