The stock is at $0.948 down 8%, you tell me.
The company reports tomorrow.
From the Detroit Free Press:
A123 expects $125 million loss in first quarter
Battery maker A123 Systems expects a loss of $125 million in the first quarter, more than 10 times its total revenue of $10.9 million, the company said today.
A123 lost $53.6 million in the first quarter of 2011 and $29 million in the first quarter of 2010. It reported revenue of $18.1 million in the first quarter of 2011 and $24.5 million in the first quarter of 2010.
Massachusetts-based A123, which employs about 800 workers at plants in Romulus and Livonia and a research and government relations division in Ann Arbor, lowered its 2012 revenue forecast. A123 projected sales of $145 million to $175 million, down from previous predictions of $230 million to $300 million....MORE
...A123's troubles take on a political bent because it received a $249.1-million federal economic stimulus grant in 2009 in addition to $135 million in tax credits, incentives and grants from the Michigan Economic Development Corp. in 2008....
