Justice Sirikah

Zenn Motor Company Inc. (TSX VENTURE: ZNN) Posts Q2 Loss on Global Auto Industry Depression

by Justice Sirikah May 28, 2009
znn_logo.pngCanada-based electric minicar maker, Zenn Motor Company Inc. (TSX VENTURE: ZNN) yesterday reported a fiscal second quarter loss that reflects the general depression manifest in the worldwide automobile industry.

  Zenn, which stands for Zero Emission No Noise, referring to its famed low-speed and short-range electric powered vehicles, saw its net loss for the period ended March 31 reaching $2 million ($0.06 per share), as compared to a net loss of $1.8 million ($0.06 per share) registered in the corresponding quarter of 2008.

  The company’s revenue for the January-March business period backed down 47 percent to $276 million from $646,722 in the fiscal second quarter of a year ago. The low turnover in revenue represents the decline in the automaker’s sales in accord with the slack vehicle markets across the board.

  However, on a positive note Zenn remarked that its strong balance sheet came in handy during the period as it allowed further significant investments in a number of key areas. This included the development of the ZENNergy (TM) drivetrain and cityZENN(TM) projects, which according to the company CEO, Ian Clifford “are integral parts of the company’s strategy”.

  Meanwhile Zenn announced an additional investment of $700,000 in its U.S advanced battery manufacturing partner, EEStor. The agreement also gives Zenn an option to buy out 10 percent of the EEStor, up from the previous 3.8 percent, but on condition that the later delivers production quality energy storage solutions for small vehicles.

  Shares of Zenn were at $4.95 on the TSX Venture market during the lunchtime trading.

Comments 30144

1. Guest
December 29, 2018, 07:12AM

Quotes cheap custom essay - custom admission essay
my custom essay, [url=https://customessayy.com/]quality custom essays[/url]

2. Guest
December 29, 2018, 07:07AM

Quotes cheap essay writing service online, buy essay online for cheap
cheap essay help online - [url=https://cheapessayy.com/]cheapest essays writing services[/url]

3. Guest
December 29, 2018, 07:06AM

Quotes essay writers cheap - the best essay writers
instant essay writer, [url=https://essaywriterabc.com/]essay writers cheap[/url]

4. Guest
December 29, 2018, 06:59AM

Quotes essays on the movie the help - the help essays
admissions essay help, [url=https://essayhelpp.us.com/]essay writing help[/url] https://essayhelpp.us.com/

5. Guest
December 29, 2018, 06:51AM

Quotes what is the best custom essay writing service, best college essay writing service
online essay writing service review - [url=https://essaywritingabc.com/]writing essays services[/url]

6. Guest
December 29, 2018, 06:47AM

Quotes the help essays, essay help service
essay help college - [url=https://essayhelpus.com/]help writing college application essay[/url]

7. Guest
December 29, 2018, 06:44AM

Quotes write my essay services - someone write my essay
write my essay for money - [url=https://writemyessayabc.com/]write my college essay me[/url]

8. Guest
December 29, 2018, 06:44AM

Quotes essay on community service, best essay writing service review
services essay, [url=https://essayservicee.com/]cheap essay service[/url]

9. Guest
December 29, 2018, 06:33AM

Quotes buy college essay - best website to buy essays
where can i buy an essay online, [url=https://buyessayy.com/]buy college essays online[/url]

10. Guest
December 29, 2018, 06:33AM

Quotes buy an essay online, buy an essay
where can i buy an essay online - [url=https://buyessayy.us.com/]buy custom essays[/url] https://buyessayy.us.com/

11. Guest
December 29, 2018, 06:31AM

Quotes custom essay writing online - custom essay papers
custom essays writing - [url=https://customessayy.com/]cheapest custom essays[/url]

12. Guest
December 29, 2018, 06:28AM

Quotes buying essays - best website to buy essays
buy essay cheap online - [url=https://buyessayy.us.com/]buying essay[/url] https://buyessayy.us.com/

13. Guest
December 29, 2018, 06:28AM

Quotes essay writing service cheap - order cheap essay
best essay cheap, [url=https://cheapessayy.com/]buy cheap essays online[/url]

14. Guest
December 29, 2018, 06:27AM

Quotes help with essay writing, essay on help
expository essay help - [url=https://essayhelpp.us.com/]i need help writing a narrative essay[/url] https://essayhelpp.us.com/

15. Guest
December 29, 2018, 06:18AM

Quotes buy an essay, buy essay cheap online
buy an essay cheap, [url=https://buyessayy.us.com/]buy college essays online[/url] https://buyessayy.us.com/

16. Guest
December 29, 2018, 06:16AM

Quotes college admissions essay help, live essay help
help write an essay, [url=https://essayhelpp.us.com/]help with writing college essays[/url]

17. Guest
December 29, 2018, 06:14AM

Quotes college essay writers - how to be a better essay writer
the best essay writers - [url=https://essaywriterabc.com/]essay writer services[/url]

18. Guest
December 29, 2018, 06:10AM

Quotes helping writing essay - help essay writing
custom essay help - [url=https://essayhelpp.us.com/]persuasive essay help[/url] https://essayhelpp.us.com/

19. Guest
December 29, 2018, 06:06AM

Quotes expository essay help - critical essay help
help writing an argumentative essay - [url=https://essayhelpus.com/]common application essay help[/url]

20. Guest
December 29, 2018, 06:05AM

Quotes write my essay cheap, help me write my essay
write my college essay me - [url=https://writemyessayabc.com/]my essay writer[/url]

Type the characters that you see in the box (5 characters).