Sevcon announces results for second quarter 2011

Sevcon, a designer and manufacturer of electronic control systems for battery-powered vehicles, has reported three-month sales of $7.8m (£4.8m) in its second-quarter financial report to the US NASDAQ exchange through its Boston-based parent, Tech/Ops Sevcon.

Tech/Ops Sevcon reported net income of $505,000, or $0.15 per share, for the second quarter ended 2 April 2011, compared to $27,000, or $0.01 per share, in the equivalent period last year.

Net income for the quarter included a one-time gain of $451,000 from the sale of a surplus UK facility.

The company saw improved demand in its traditional markets, as well as increased sales of its new Gen4 AC product for new applications, such as two- and four-wheel on road electric vehicles.