Flux Power Holdings: Jumps after quarterly revenue doubles

Flux Power Holdings

28/09/2020 21:57

** Shares of Flux  FLUX.O , the maker of rechargeable
lithium-ion batteries for lift trucks and airport ground support
equipment, jump 44% to $7.77 in extended trading
    ** Stock is set to open at a near two-month high and post
its biggest one day pct gain in over two years
    ** Says Q4 revenue surges 107% to $6.3 mln, helped by sales
of larger battery packs for forklifts and electric trucks, while
net loss narrows to $3.2 mln from $3.3 mln  urn:newsml:reuters.com:*:nBw4hd1hba
    ** FLUX says expects revenue growth to continue its FY20
momentum in FY21, with Q1 being a lower growth quarter compared
with the prior two quarters
    ** Stock has fallen about 41% YTD

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))