Brief: Ideal Power Reports Qtrly Loss Per Share $0.07

Ideal Power

01/05/2019 21:28

May 1 (Reuters) - Ideal Power Inc  IPWR.O :
    * IDEAL POWER REPORTS FIRST QUARTER 2019 FINANCIAL RESULTS
    * IDEAL POWER INC QTRLY LOSS PER SHARE $0.07
    * IDEAL POWER INC - HAD NO REVENUE FROM CONTINUING
OPERATIONS IN
Q1 2019
    * IDEAL POWER INC - REDUCED PCS DIVISION WORKFORCE AND
SUSPENDED
FURTHER POWER CONVERTER SYSTEM DEVELOPMENT AND SALES IN EARLY
JAN
    * IDEAL POWER INC - ESTIMATE ANNUALIZED CASH EXPENDITURES
WILL BE
REDUCED BY AT LEAST $3 MILLION
    * IDEAL POWER INC - MAINTAINED TARGETED CASH BURN RATE,
UTILIZING
$1 MILLION OF CASH IN Q1 2019, VERSUS $2.1 MILLION IN Q1 2018
    * IDEAL POWER INC - STRONG CASH MANAGEMENT, PENDING PPSA
SALE AND
NO DEBT WILL PROVIDE CO WITH STABLE FINANCIAL RUNWAY INTO 2020
    * IDEAL POWER INC - QTRLY LOSS FROM DISCONTINUED OPERATIONS
WAS
$347 THOUSAND VERSUS $1.1 MILLION DUE TO EXIT FROM POWER
CONVERSION BUSINESS IN EARLY JAN 2019
    * IDEAL POWER INC - QTRLY NET LOSS $1 MILLION VERSUS $2.1
MILLION

Source text for Eikon:  ID:nGNX5LJcVT 
Further company coverage:  IPWR.O 

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