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Zaps seems to have found a piece of good news in the sales increase reported for third quarter: The accounting department reports a 180 percent increase in revenue: $2.2 million compared to $0.8 million last year. This still means that Zap is in the red: the company reported a net loss of $2.5 million, or $0.04 per share, which is less than last year's $3.7 million loss. Zap also refers to an additional $0.53 million for car outlet revenue, as well as $0.4 million in electronic goods revenue. These are more reasonable figures than the $79 million sale that was announced last year. Even ZAP CEO Steven Schneider is sounding prudent: "We are pleased to report that electric vehicle sales accelerated in the third quarter as we increased our manufacturing capabilities and the recent $10 million working capital credit line accelerated production and assembly operations," he said in a statement.


[Source: Zap]

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