DALLAS, Nov. 10, 2009 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Ener1 Inc. (NYSE:HEV). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Ener1 Inc. (NYSE:HEV) should be of particular interest to comparable clean energy companies: Advanced Battery Technologies Inc. (Nasdaq:ABAT), Valence Technology Inc. (Nasdaq:VLNC), Fuel-Tech Inc. (Nasdaq:FTEK) and Capstone Turbine Corp. (Nasdaq:CPST).
The full report is available at: http://www.investorsoup.com/lp/HEV
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Ener1 Inc. (HEV) is engaged in the business of designing, developing and manufacturing rechargeable lithium-ion batteries and battery systems for energy storage. Its end markets include transportation, stationary power (energy storage for utilities and renewable energy, such as wind and solar power in addition to battery backup systems for the home), military applications and small cell markets.
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In the report, the analyst notes:
"HEV's revenue has increased primarily from the sale of prototype EV battery packs to European customers, which has been partially offset by a decrease in revenue from the supply agreement with Think. Company sales of $6,822,000 and cost of sales of $6,360,000 resulted in a gross profit of $462,000 or 7%. Included in cost of sales is depreciation expense of $568,000. HEV's sales have decreased approximately 35% on a pro forma basis, from $10,519,000 for the three months ended June 30, 2008, to $6,822,000 for the three months ended June 30, 2009, resulting in a gross profit decline of approximately $626,000 or 58%.
"HEV last week announced that it will be working with the United States Army to develop a next-generation battery system for the hybrid version of the iconic High Mobility Multipurpose Wheeled Vehicle (HMMWV or Humvee), known as the XM1124 Humvee. HEV has received a $1.29 million contract to design and build high-performance lithium-ion battery systems for two different applications, drawing on its expertise in multiple-chemistry solutions and ability to provide a complete architecture in cell chemistry, electronics and battery systems design."
To read the entire report visit: http://www.investorsoup.com/lp/HEV
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