Customer demand drives Sevcon revenue up
Revenues at Sevcon Inc. increased 13 percent in the second quarter of 2015 compared with the second quarter of 2014, the Southborough company reported yesterday.
Revenues of $10.34 million in the quarter, which ended April 4, reflected customer demand for products in the on-road sector, the company said. Sevcon makes microprocessor-based controls for hybrid and electric vehicles. Last year’s second-quarter revenues were $9.17 million.
If it weren’t for the impact of foreign currency fluctuations against the strong U.S. dollar, Sevcon said, the year-over-year revenue leap would have been 22 percent.
“Nearly all of our growth this quarter was driven by increased customer demand for the flexible and easily adaptable power train solutions we have been developing for an expanding range of on-road applications,” president and CEO Matt Boyle said in the statement.
He added that although most of Sevcon’s on-road sales were for electric and hybrid vehicle applications, demand is growing for other electrification applications such as hybridization for improved performance and efficiency.
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