Sunworks soars as Q2 loss narrows, outlook upbeat

Sunworks

02/08/2019 14:57

** Shares of solar power systems maker Sunworks Inc  SUNW.O 
jump ~30% to $0.798, their highest since June 10
    ** To post best session in four months 
    ** Q2 loss narrows and gross margin was at the highest level
since Q2 of 2017 thanks to improved efficiencies in agriculture,
commercial and industrial (ACI) as well as public works
 urn:newsml:reuters.com:*:nASB01WO9
    ** Q2 revenue doubles but misses estimates
    ** Q3 rev expected rise and management expects company to
again generate positive operating income for Q3 
    ** Stock has tripled in value so far this year; set to end
four-year losing streak

 (Reporting by Susan Mathew in Bengaluru;)
 ((Reuters Messaging:
susan.mathew.thomsonreuters.com@reuters.net))