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07.08.2013 22:29:28

Tesla Q2 Results Top Estimates

(RTTNews) - Tesla Motors, Inc. (TSLA) reported a net loss for the second quarter of $30.5 million or $0.26 per share, compared to a net loss of $105.2 million or $1.00 per share for the year-ago quarter.

Excluding lease accounting, certain non-cash items, and one-time charges, adjusted net income for the latest quarter was $26 million or $0.20 per share.

Total revenue for the second quarter jumped to $405.14 million from $26.65 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.17 per share on revenue of $383.40 million for the second quarter. Analysts' estimates typically exclude special items.

Going forward, the company expects to be profitable on an adjusted basis and generate positive cash flow from operations every quarter this year excluding any benefit from ZEV credits.

The company said it plans to deliver slightly over 5,000 Model S vehicles in the third quarter and remain on plan to deliver 21,000 vehicles worldwide for 2013.

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