Axion Power International Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company announced net sales of $319,463 compared to $2,185,699 for the same period a year ago. Operating loss was $2,018,189 compared to $2,111,647 for the same period a year ago. Loss before income taxes was $2,642,897 compared to $4,681,848 for the same period a year ago. Net loss was $2,642,897 compared to $4,681,848 for the same period a year ago. Net loss per share, basic and diluted was $0.55 compared to $2.00 for the same period a year ago. Revenues decreased significantly during the third quarter due to the discontinuance of contract manufacturing of flooded lead-acid batteries for a large international battery company. The decrease in sales will impact the comparability of 2014 third and fourth quarter and full year reporting period, compared with the same periods in 2013 for the sale of lead-acid batteries.

For the nine months, the company announced net sales of $4,529,387 compared to $7,111,812 for the same period a year ago. Operating loss was $6,377,624 compared to $5,777,340 for the same period a year ago. Loss before income taxes was $11,281,589 compared to $6,663,075 for the same period a year ago. Net loss was $11,281,589 compared to $6,663,075 for the same period a year ago. Net loss per share, basic and diluted was $2.55 compared to $3.00 for the same period a year ago. Cash used in operating activities was $3,984,854 compared to $4,800,824 for the same period a year ago. Capital expenditures were $107,180 compared to $151,570 for the same period a year ago.