Quantum Fuel Systems Slumps On Quarterly Loss (QTWW, BBEP, GSVC, GV)
Quantum Fuel Systems Technologies (NASDAQ:QTWW) shares declined 10.74% to $0.543 in the morning hour after the company first-quarter net loss was $7.81 million or $0.26 a share, as compared to $5.26 million or $0.51 a share last year. Total revenues dropped to $5.99 million from $6.75 million in the prior-year quarter.
The company yesterday announced that it has entered into a credit arrangement with Bridge Bank, National Association, providing the Company a working capital line of credit of up to $10.0 million.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) stock fell 0.20% to $17.36 in the early hour after the company announced that it has signed two separate agreements to acquire oil and natural gas properties located in the Permian Basin in Texas for a combined price of approximately $220 million, subject to customary closing conditions and purchase price adjustments. The acquisitions will be funded with borrowings under the Partnership’s existing bank credit facility and are expected to close within 60 days.
GSV Capital Corp (NASDAQ:GSVC) stock fell 10.09% to $16.39 in the morning hour after the company priced a follow-on offering of 6 million shares of its common stock at $16.25 per share, resulting in gross proceeds of $97.5 million. The underwriters have been granted a 30-day option to purchase up to an additional 900,000 shares of common stock. The Company intends to use the net proceeds of this public offering to invest in portfolio companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
The Goldfield Corporation (NYSEAMEX:GV) shares soared 54.55% to $1.68 in the early hour after the company’s first quarter revenue nearly doubled to $17.7 million from $8.9 million in the comparable prior year period owing to higher electrical construction revenue. Net income for the period was $2.7 million, or $0.10 per share, as compared to a net loss of $11,000, or ($0.00) net loss per share, in the same period last year.