Benzinga | Jun 29, 2021 04:27PM EDT

GreenPower Shares Gained After 76% Jump In Q4 Sales

* GreenPower Motor Company Inc (NASDAQ:GP) reported fourth-quarter FY21 sales of $4.38 million, up 76% year-on-year.

* Gross profit was $1.2 million, with a margin of 26.7%.

* Inventory was $12.5 million as of March 31, 2021, up 89% Y/Y.

* GreenPower Delivered five EV250 thirty-foot all-electric buses for shuttle operations at LAX airport.

* It sold 30 EV Stars to Zeem Solutions that were previously on lease with another customer.

* Cash expenses amounted to $2 million, up 6.6%, while the working capital was $30.8 million, down 1.6%.

* Net loss was $2.8 million.

* "With the consistent run-rate production for our EV Star and School Buses that was increased in Q4, we are building to meet the high demand for GreenPower products across multiple sectors including transit, delivery, student transportation, fleet operators, municipal and final-stage manufacturers," said Brendan Riley, President.

* Price action: GP shares closed higher by 11.43% at $20.777 on Tuesday.