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[Richard230]

According to my newspaper and the Wall Street Journal, Tesla has announced a fourth-quarter revenue of $36.3 million, which is a 16% increase from the previous quarter and double the $18.6 million from the previous year's 4th quarter. That exceeded Wall Street's estimate. Tesla's stock is selling at $22.86 as of last night.

However, the company lost $51.4 million, or 54 cents a share, last quarter, in spite of the increased income. This loss was due to increased spending on R&D and rapid hiring as it races to get its Model S sedan to the market.

Tesla has about 900 employees worldwide and has 165 job openings for battery technicians, firmware engineers, sales staff and a big boss.

CEO Elon Musk said that the highlight of the 4th quarter was the on-time completion of the first drivable Model S. Musk says that he drives the alpha-build Model S every week and he is really pleased with how the product is developing.

To date Tesla has sold 1500 Roadsters and 3,700 customers have paid $5000 each to reserve the Model S, which is scheduled for production in 2012. Also, Daimler has increased its order for Tesla's battery packs for its Smart ForTwo electric car from 1500 to 1800 packs.

For the year, Tesla reported a loss of $154.3 million, compared with a loss of $55.7 million in 2009. Deepak Ahuja, Tesla's CFO, says that revenue will increase to between $160 and $175 million this year.

[skadamo]

That is great to hear, thanks for the update. I did not realize they employed that many people.

[Richard230]

Poor Tesla. The better they do, the more money they loose. The LA Times reports that Tesla just announced revenue of $49 million over the first quarter of 2011, more than double the $20.8 million that they made a year ago. Over the past quarter they delivered record numbers of battery packs and chargers for the Daimler electric Smart Fortwo and the Toyota electric RAV4, which is due out next year. In spite of this income, Tesla still lost $48.9 million in the quarter, compared with loosing $29.5 million a year earlier. Tesla CEO Elon Musk, in a telephone call to Tiffany Hsu of the Times, said that he was optimistic about the company's prospects.

Last month Tesla opened a new store in San Jose's Santana Row retail center. It has hired more than 130 new employees - mostly in manufacturing, research and development. More than 1,650 Roadsters have been delivered internationally and the model is expected to sell out by the end of the year.