Aura Systems, Inc. Reports Earnings Results for the Third Quarter Ended November 30, 2020
January 19, 2021 at 03:16 pm EST
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Aura Systems, Inc. announced earnings results for the third quarter ended November 30, 2020. For the third quarter, the company announced sales was USD 7,829 compared to USD 396,775 a year ago. Operating loss was USD 326,235 compared to USD 157,005 a year ago. Net loss was USD 589,829 compared to USD 774,337 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the nine months, sales was USD 61,462 compared to USD 744,850 a year ago. Operating loss was USD 1.189 million compared to USD 441,861 a year ago. Net income was USD 1.527 million compared to net loss of USD 1.660 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.03 a year ago.
Aura Systems, Inc. (Aura) designs, assembles, tests, and sells its Axial Flux Induction Motor solution and mobile power known as the AuraGen for commercial and industrial applications and the VIPER for military applications. Its business model consists of components such as sales and marketing, design and engineering. Aura's sales and marketing approaches are composed of direct sales in North America and the use of agents and distributors in other areas. In North America, its primary focus is on mobile exportable power applications, electric vehicles applications, United States Military applications and industrial/commercial motor as well as mobile power applications. Its business model is focused on the design of new products and engineering support for sales activities. The engineering support consists of the introduction of new optimized power levels for electric motors and new features for its AuraGen/VIPER solution, such as torque solutions and different input and output voltages.
AURA SYSTEMS, INC. 
