{"id":507630,"date":"2021-06-29T08:33:47","date_gmt":"2021-06-29T12:33:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/"},"modified":"2021-06-29T08:33:47","modified_gmt":"2021-06-29T12:33:47","slug":"greenpower-reports-fiscal-fourth-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/","title":{"rendered":"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">VANCOUVER, BC<\/span>, <span class=\"xn-chron\">June 29, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (&#8220;GreenPower&#8221;), a leading manufacturer and distributor of zero emission electric powered vehicles serving the cargo and delivery, shuttle, transit and school bus markets, today announced financial results for its fiscal fourth quarter and year ended <span class=\"xn-chron\">March 31, 2021<\/span>.<\/p>\n<p>Highlights of the fiscal fourth quarter:<\/p>\n<ul type=\"disc\">\n<li>Recorded revenues of <span class=\"xn-money\">$4,378,131<\/span> an increase of 76% over the revenue of <span class=\"xn-money\">$2,486,669<\/span> for the fourth quarter in the previous fiscal year <\/li>\n<li>Cost of revenues were <span class=\"xn-money\">$3,210,100<\/span> generating a gross profit of <span class=\"xn-money\">$1,168,031<\/span> or 26.7% of revenues compared to a gross profit of 30.1% for the full fiscal year <\/li>\n<li>Delivered five EV250 thirty-foot all-electric buses for shuttle operations at LAX airport <\/li>\n<li>Sold 30 EV Stars to Zeem Solutions that were previously on lease with another customer <\/li>\n<li>Inventory was <span class=\"xn-money\">$12.5 million<\/span> at <span class=\"xn-chron\">March 31, 2021<\/span> compared to <span class=\"xn-money\">$6.6 million<\/span> the previous year <\/li>\n<li>Increased production of B.E.A.S.T. all-electric school buses from five units per month to 10 units per month in response to positive feedback from demonstrations and anticipated future demand <\/li>\n<li>Cash expenses for the current quarter amounted to <span class=\"xn-money\">$2,035,699<\/span> compared to <span class=\"xn-money\">$1,909,522<\/span> for the previous quarter <\/li>\n<li>Working capital was <span class=\"xn-money\">$30,808,375<\/span> at the end of the quarter compared to <span class=\"xn-money\">$31,310,393<\/span> at the end of the previous quarter<\/li>\n<\/ul>\n<p>&#8220;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,&#8221; said <span class=\"xn-person\">Brendan Riley President<\/span> of GreenPower. &#8220;GreenPower has the most compelling vehicles in the medium and heavy duty, commercial EV sector. We expect strong demand for the foreseeable future.&#8221; \u00a0\u00a0<\/p>\n<p>\n        <span class=\"xn-person\">Fraser Atkinson<\/span>, CEO of GreenPower added, &#8220;We are excited that as the economy reopens from the Covid-19 pandemic our efforts with production have positioned us for increased deliveries, which commence this summer and accelerate thereafter.\u00a0 I&#8217;m proud of our team in that we&#8217;ve been able to accomplish this with a modest increase in our quarterly cash expenses and modest decrease in working capital compared to the previous quarter.\u00a0 We believe that we are on track to achieving our goal of attaining positive quarterly cash flow by the middle of the current fiscal year.&#8221;<\/p>\n<p>\n        <b><br \/>\n          <i>Results for the three months ended <span class=\"xn-chron\">March 31, 2021<\/span><\/i><br \/>\n        <\/b>\n      <\/p>\n<p>For\u00a0the\u00a0three-month period\u00a0ended\u00a0March 31,\u00a02021 the Company generated revenues of <span class=\"xn-money\">$4,378,131<\/span>, cost of revenues of <span class=\"xn-money\">$3,210,100<\/span> yielding a gross profit of <span class=\"xn-money\">$1,168,031<\/span>, related to the sale of 30 EV Stars that were previously on lease, the delivery of five EV 250s for which the Company provided lease financing and which were accounted for as finance leases, and from the sale of spare parts. Operating costs consist of administrative fees of <span class=\"xn-money\">$977,812<\/span> relating to salaries, project management, accounting, and administrative services; transportation costs of <span class=\"xn-money\">$41,558<\/span>; insurance expense of <span class=\"xn-money\">$266,380<\/span>; travel, accommodation, meals and entertainment costs of <span class=\"xn-money\">$38,308<\/span>; product development costs of <span class=\"xn-money\">$296,164<\/span>; interest and accretion of <span class=\"xn-money\">$175,450<\/span>; professional fees of <span class=\"xn-money\">$210,448<\/span>; as well as non-cash expenses including <span class=\"xn-money\">$1,278,194<\/span> of share-based compensation expense, allowance for credit losses of <span class=\"xn-money\">$338,818<\/span> and depreciation of <span class=\"xn-money\">$82,150<\/span>. Excluding a foreign exchange loss of <span class=\"xn-money\">$69,256<\/span>, the remaining operating costs for the period amounted to <span class=\"xn-money\">$135,963<\/span> in general corporate expenses and a write down of assets of <span class=\"xn-money\">$45,679<\/span>, resulting in a consolidated net loss of <span class=\"xn-money\">$2,788,149<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Results for the year ended <span class=\"xn-chron\">March 31, 2021<\/span><\/i><br \/>\n        <\/b>\n      <\/p>\n<p>For the year ended <span class=\"xn-chron\">March 31, 2021<\/span> the Company generated revenue of <span class=\"xn-money\">$11,884,578<\/span> compared to <span class=\"xn-money\">$13,500,403<\/span> for the previous year, a decrease of 12.0%. Cost of revenues of <span class=\"xn-money\">$8,304,438<\/span> yielding a gross profit of <span class=\"xn-money\">$3,580,140<\/span> or 30.1% of revenue. Revenue for the year was generated from the sale of 33 EV Stars, from the lease of 35 EV Stars, from the lease of 5 EV 250s, from lease income, and from the sale of chargers, and parts. Operating costs\u00a0consist of administrative fees of <span class=\"xn-money\">$3,747,76<\/span>; transportation costs of <span class=\"xn-money\">$161,017<\/span>; insurance expense of <span class=\"xn-money\">$596,932<\/span>; travel, accommodation, meals and entertainment costs of <span class=\"xn-money\">$217,023<\/span>; product development costs of <span class=\"xn-money\">$939,949<\/span>; sales and marketing costs of <span class=\"xn-money\">$234,445<\/span>; interest and accretion of <span class=\"xn-money\">$1,598,588<\/span>; professional fees of <span class=\"xn-money\">$486,425<\/span>; as well as non-cash expenses including <span class=\"xn-money\">$2,098,761<\/span> share-based compensation expense, depreciation of <span class=\"xn-money\">$437,263<\/span>, and an allowance for credit losses of <span class=\"xn-money\">$333,929<\/span>. The remaining operating costs for the period amounted to <span class=\"xn-money\">$325,324<\/span> in general corporate expenses, a foreign exchange loss of <span class=\"xn-money\">$193,798<\/span> and a write down of assets of <span class=\"xn-money\">$45,679<\/span> resulting in a\u00a0consolidated net loss of <span class=\"xn-money\">$7,836,754<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>About GreenPower Motor Company Inc.<br \/><\/i><br \/>\n        <\/b>GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis.\u00a0 GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in <span class=\"xn-location\">Vancouver, Canada<\/span> with primary operational facilities in southern <span class=\"xn-location\">California<\/span>. Listed on the <span class=\"xn-location\">Toronto<\/span> exchange since <span class=\"xn-chron\">November 2015<\/span>, GreenPower completed its U.S. IPO and NASDAQ listing in <span class=\"xn-chron\">August 2020<\/span>. For further information go to <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3212138-1&amp;h=3367856516&amp;u=http%3A%2F%2Fwww.greenpowermotor.com%2F&amp;a=www.greenpowermotor.com\" rel=\"nofollow noopener\">www.greenpowermotor.com<\/a><\/p>\n<p>\n        <b><br \/>\n          <i>Forward-Looking Statements<br \/><\/i><br \/>\n        <\/b>This document contains forward-looking statements relating to, among other things, GreenPower&#8217;s business and operations and the environment in which it operates, which are based on GreenPower&#8217;s operations, estimates, forecasts and projections.\u00a0Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as &#8220;upon&#8221;, &#8220;may&#8221;, &#8220;should&#8221;, &#8220;will&#8221;, &#8220;could&#8221;, &#8220;intend&#8221;, &#8220;estimate&#8221;, &#8220;plan&#8221;, &#8220;anticipate&#8221;, &#8220;expect&#8221;, &#8220;believe&#8221; or &#8220;continue&#8221;, or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. A number of important factors including those set forth in other public filings (filed under the Company&#8217;s profile on <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3212138-1&amp;h=2160063269&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener\">www.sedar.com<\/a><\/u>)\u00a0could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.<\/p>\n<p>\n        <i>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in U.S. dollars. \u00a92021 GreenPower Motor Company Inc. All rights reserved.<\/i>\n      <\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA27073&amp;sd=2021-06-29\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results-301321626.html\">https:\/\/www.prnewswire.com\/news-releases\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results-301321626.html<\/a><\/p>\n<p>SOURCE  GreenPower Motor Company<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LA27073&amp;Transmission_Id=202106290830PR_NEWS_USPR_____LA27073&amp;DateId=20210629\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire VANCOUVER, BC, June 29, 2021 \/PRNewswire\/ &#8212;\u00a0GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (&#8220;GreenPower&#8221;), a leading manufacturer and distributor of zero emission electric powered vehicles serving the cargo and delivery, shuttle, transit and school bus markets, today announced financial results for its fiscal fourth quarter and year ended March 31, 2021. Highlights of the fiscal fourth quarter: Recorded revenues of $4,378,131 an increase of 76% over the revenue of $2,486,669 for the fourth quarter in the previous fiscal year Cost of revenues were $3,210,100 generating a gross profit of $1,168,031 or 26.7% of revenues compared to a gross profit of 30.1% for the full fiscal year Delivered five EV250 thirty-foot all-electric buses for shuttle operations at LAX &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-507630","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire VANCOUVER, BC, June 29, 2021 \/PRNewswire\/ &#8212;\u00a0GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (&#8220;GreenPower&#8221;), a leading manufacturer and distributor of zero emission electric powered vehicles serving the cargo and delivery, shuttle, transit and school bus markets, today announced financial results for its fiscal fourth quarter and year ended March 31, 2021. Highlights of the fiscal fourth quarter: Recorded revenues of $4,378,131 an increase of 76% over the revenue of $2,486,669 for the fourth quarter in the previous fiscal year Cost of revenues were $3,210,100 generating a gross profit of $1,168,031 or 26.7% of revenues compared to a gross profit of 30.1% for the full fiscal year Delivered five EV250 thirty-foot all-electric buses for shuttle operations at LAX &hellip; Continue reading &quot;GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-29T12:33:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA27073&amp;sd=2021-06-29\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results\",\"datePublished\":\"2021-06-29T12:33:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/\"},\"wordCount\":1093,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=LA27073&amp;sd=2021-06-29\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/\",\"name\":\"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=LA27073&amp;sd=2021-06-29\",\"datePublished\":\"2021-06-29T12:33:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=LA27073&amp;sd=2021-06-29\",\"contentUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=LA27073&amp;sd=2021-06-29\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/","og_locale":"en_US","og_type":"article","og_title":"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results - Market Newsdesk","og_description":"PR Newswire VANCOUVER, BC, June 29, 2021 \/PRNewswire\/ &#8212;\u00a0GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (&#8220;GreenPower&#8221;), a leading manufacturer and distributor of zero emission electric powered vehicles serving the cargo and delivery, shuttle, transit and school bus markets, today announced financial results for its fiscal fourth quarter and year ended March 31, 2021. Highlights of the fiscal fourth quarter: Recorded revenues of $4,378,131 an increase of 76% over the revenue of $2,486,669 for the fourth quarter in the previous fiscal year Cost of revenues were $3,210,100 generating a gross profit of $1,168,031 or 26.7% of revenues compared to a gross profit of 30.1% for the full fiscal year Delivered five EV250 thirty-foot all-electric buses for shuttle operations at LAX &hellip; Continue reading \"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-29T12:33:47+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA27073&amp;sd=2021-06-29","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results","datePublished":"2021-06-29T12:33:47+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/"},"wordCount":1093,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA27073&amp;sd=2021-06-29","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/","name":"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA27073&amp;sd=2021-06-29","datePublished":"2021-06-29T12:33:47+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/#primaryimage","url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA27073&amp;sd=2021-06-29","contentUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA27073&amp;sd=2021-06-29"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenpower-reports-fiscal-fourth-quarter-2021-financial-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"GreenPower Reports Fiscal Fourth Quarter 2021 Financial Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/507630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=507630"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/507630\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=507630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=507630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=507630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}