Tesla Motors released its latest SEC filing today, and there was good news and more news for the first quarter of 2011.
First, the company had revenues of $49 million, up 35 percent from the previous quarter's $36.3 million. This makes 2011 Q1 Tesla's most profitable quarter ever, even though net loss for the quarter was $48.9 million (on "generally accepted accounting principles" basis).
Second, and this is key for the long-term, CEO Elon Musk said in a statement that plans for the Model S are continuing as planned:
Also, Daimler has upped its order for Tesla-built Smart Fortwo ED components by 300 units (from 1,800 to 2,100). Tesla says all of these will ship in 2011. Oh, and Tesla now says that more than 1,650 Roadsters have been delivered around the world. If you're a real detail junkie, you can read the 8-K SEC report here. At the end of the trading day today, TSLA stock was at $26.69.Our engineering and manufacturing teams have now completed the construction of all of our Model S alpha vehicles, having finished the final alpha in April. These vehicles are successfully undergoing the planned cold weather brakes testing, ride and handling evaluation, safety validation, electrical integration, and noise, vibration and harshness evaluation. As has been our plan, we will continue testing this quarter with a particular focus on durability and systems integration as we prepare for our beta build later this year. Overall, we remain on track for first customer deliveries of the Model S in mid-2012.
[Source: Tesla]
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