QualityStocks SUBMIT AN ARTICLE
ZAP, a ground breaker in electric transportation, announced that a growth in demand has resulted in an unaudited record August 2008 sales of $737,000, an increase of $345,000 or 88 percent from a year ago for its Advanced Technology Vehicle division. CEO Steve Schneider cited the high gas prices and lack of electric vehicle competition as having a positive effect on their sales. Currently, ZAP has delivered more than 100,000 electric and advanced technology vehicles to more than 75 countries.
ZAP was founded in 1994 as Zap Power Systems, which was later simplified to ZAP in 2001. It has two primary businesses. The first being its Advanced Technology Vehicle division, with its 2006 premier on the world stage, the imported Xebra Sedan and Truck. Its second business, the battery recharging technology division (aka:Recharge-It-All), focuses on powering a wide range of consumer electronics, like, cells phones, MP3 players, digital cameras, camcorders, laptops and more.
As of 1:57 PM EST, the stock is trading at $0.63, an increase of $0.04, trading well below its average volume of 141,000.00. Hopefully, with this leap in sales, the company will see some closing in on the Earnings Per Share (EPS) into positive territory, which last reported was -0.27.
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