Maxwell announces first-quarter revenue

Maxwell Technologies, a manufacturer of energy storage and power delivery systems, has reported revenue of $26.6m (£17.4m) for its first quarter ended 31 March 2010 – up 19 per cent over the $22.5m recorded in the same period in 2009.

Operating loss for the first quarter 2010 was $1.6m, compared with an operating loss of $1.8m in the same period last year.

Net income for the quarter was $1.2m, or $0.05 per diluted share, compared with a net loss of $3m, or $0.13 per diluted share, in the prior-year quarter.