CORONA, CA / ACCESSWIRE / September 17, 2018 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today that it has delivered electric drivetrains representing sales revenue to the Company of $2.1 million in the third quarter through August 31, 2018, representing a 73% increase compared to the combined first and second quarter 2018 sales revenue.
The deliveries represent completion of 33% of ADOMANI's $6.3 million June 30, 2018 backlog. The Company continues to work towards completing production of its remaining backlog in order to move its backlog to the delivery stage, and as previously stated, believes that the remaining $4.2 million backlog will be delivered in 2018. Upon delivery, ADOMANI will move its bookings out of backlog and recognize sales revenue.
About ADOMANI®
ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership. ADOMANI® helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. ADOMANI® designs and causes to be designed advanced zero-emission electric and hybrid drivetrain systems for use in new school buses and medium to heavy-duty commercial fleet vehicles.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospectus or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by ADOMANI® with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," "outlook," "designed," and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI® undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
INVESTOR RELATIONS CONTACTS:
ADOMANI, Inc.
Kevin Kanning
V.P. of Investor Relations
(650) 533-7629
[email protected]
Hayden IR
James Carbonara
Partner
(646) 755-7412
[email protected]
ADOMANI, Inc.
Michael K. Menerey
Chief Financial Officer
(626) 483-3280
[email protected]
SOURCE: ADOMANI, Inc.