Last $1.24 USD
Change Today -0.06 / -4.62%
Volume 192.1K
OPTT On Other Exchanges
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As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

ocean power technologies inc (OPTT) Snapshot

Open
$1.31
Previous Close
$1.30
Day High
$1.33
Day Low
$1.22
52 Week High
03/11/14 - $7.01
52 Week Low
07/15/14 - $1.03
Market Cap
21.8M
Average Volume 10 Days
378.9K
EPS TTM
$-0.82
Shares Outstanding
17.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for OCEAN POWER TECHNOLOGIES INC (OPTT)

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ocean power technologies inc (OPTT) Details

Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in the United States, Europe, Asia, and Australia. It offers utility scale PowerBuoy system to supply electricity to a local or regional electric power grid; and autonomous PowerBuoy system that is designed to generate power for use independent of the power grid in remote locations. The company sells its products to public utilities, independent power producers, and other governmental entities and agencies, as well as public and private entities that use electricity in and near the ocean. Ocean Power Technologies, Inc. was incorporated in 1984 and is headquartered in Pennington, New Jersey.

29 Employees
Last Reported Date: 07/29/14
Founded in 1984

ocean power technologies inc (OPTT) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $123.5K
Chief Operating Officer
Total Annual Compensation: $105.8K
Compensation as of Fiscal Year 2014.

ocean power technologies inc (OPTT) Key Developments

Ocean Power Technologies, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended July 31, 2014

Ocean Power Technologies, Inc. announced unaudited consolidated earnings results for the first quarter ended July 31, 2014. For the quarter, the company reported revenue of $1.5 million as compared to revenue of $0.5 million for the three months ended July 31, 2013. This increase relates primarily to the expiration of the WavePort contract with EU which resulted in recognition of the remaining estimated amount of contract revenue to be earned related to the project in Spain and increased billable work under the current phase of the company's project with MES. These increases were offset by decreased revenues on the company's development project for the company's modular power take-off technology. The net loss was $3.3 million as compared to a net loss of $3.8 million for the three months ended July 31, 2013. The favorable decrease in the Company's net loss year-over-year reflects lower product development costs related primarily to the completion of the company's cost-sharing contract with the European Union for the company's WavePort project in Spain. This is a result of the decreased cost-sharing portion of the contract which the company recorded under product development in prior periods and was recovered during the three months ended July 31, 2014. Operating loss was $3,469,553 against $3,818,153 for the same period a year ago. Basic and diluted net loss per share were $0.19 against $0.36 for the same period a year ago. Net cash used in operating activities were $3,167,540 against $3,077,530 for the same period a year ago. Purchases of equipment was $1,041 against $14,522 for the same period a year ago.

Ocean Power Technologies, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended April 30, 2014

Ocean Power Technologies, Inc. announced consolidated earnings results for the fourth quarter and full year ended April 30, 2014. For the quarter, the company announced revenues of $374,735 compared to $407,881 for the same period a year ago. Operating loss was $3,363,350 compared to $4,087,718 for the same period a year ago. Loss before income taxes was $3,309,138 compared to $4,173,069 for the same period a year ago. Net loss was $3,309,138 compared to $4,173,069 for the same period a year ago. Net loss attributable to the company was $3,208,875 compared to $4,128,473 for the same period a year ago. Basic and diluted net loss per share was $0.21 compared to $0.40 for the same period a year ago. For the full year, the company announced revenues of $1,498,892 compared to $3,616,129 for the same period a year ago. Operating loss was $13,150,309 compared to $16,319,215 for the same period a year ago. Loss before income taxes was $12,936,949 compared to $16,276,254 for the same period a year ago. Net loss was $11,191,054 compared to $14,823,011 for the same period a year ago. Net loss attributable to the company was $10,969,192 compared to $14,681,837 for the same period a year ago. Basic and diluted net loss per share was $0.91 compared to $1.42 for the same period a year ago. Net cash used in operating activities was $6,497,078 compared to $10,845,648 for the same period a year ago. Purchases of equipment were $27,268 compared to $394,632 for the same period a year ago.

Ocean Power Technologies, Inc., Q4 2014 Earnings Call, Aug 04, 2014

Ocean Power Technologies, Inc., Q4 2014 Earnings Call, Aug 04, 2014

 

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