EVCA.OB, BWA, & QTWW: BorgWarner reports a GAAP earnings of $0.68 per diluted share

July 30, 2010 - PRLog -- EVCARCO (EVCA.OB),

EVCARCO is a publicly held company in the alternative energy vehicles industry, recently reported that the company has officially been granted it’s four Registered Trademarks including “EVCARCO” and its slogan “Future Driven .”

EVCARCO has received significant attention over the last few months with media and press about its range of electric vehicles, business model and its alliances with the Federal Government .



About EVCA:

EVCARCO is the first automotive retail group dedicated to deploying a coast-to-coast network of eco-friendly dealerships and vehicles.and vehicles. EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric, alternative fuel, and pre-owned hybrid vehicles. EVCARCO has developed a dealer network allowing growth into most US States by 2012.

EVCA has alternative fuel vehicles, plug-in electric cars, hydrogen fuel injection cars , and hybrid systems from well-known auto makers and eco-friendly car makers you haven’t heard of…yet.

The company, which is focused on the sale of alternative energy vehicles, has seen a dramatic increase in inquires from South America as well as specific government requests to supply all electric units for fleet use.

To See The Vehicles EVARCO Has To Offer, Go To: www.evcarco.com.

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BorgWarner

BorgWarner Morse TEC is a leading global designer and producer of engine timing systems that are quiet, durable, precise and cost effective. Engines equipped with BorgWarner variable cam timing (VCT) technology operate independently of oil pressure to deliver more horsepower, better performance, and improved fuel economy over traditional cam phasing devices in the marketplace today. HY-VO® chain systems, which are available for front wheel drive transmissions, four-wheel drive transfer cases and hybrid power drives, transmit power between shafts efficiently, quietly and economically with considerable weight savings over gear technology.

BorgWarner Inc reported today their second quarter 2010 U.S. GAAP earnings of $0.68 per diluted share. Excluding non-recurring items in both periods, earnings were $0.78 per diluted share compared with a net loss of $(0.05) per diluted share a year ago. Sales were up 55.2% from second quarter 2009 as growing demand for its fuel-efficient technologies drove the global powertrain systems supplier's strong results.
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Quantum Fuel Systems (NasdaqGM: QTWW)

Quantum Fuel Systems Technologies Worldwide, Inc., is an integrated alternative energy company, engages in the development and production of propulsion systems, energy storage technologies, and alternative fuel vehicles. Its portfolio of technologies include lithium-ion battery systems, electronic controls, hybrid electric drive and control systems, hydrogen storage and metering systems, and other alternative fuel technologies.

Quantum Fuel Systems reported today that it has completed the final tranche of a private placement offering of Common Stock Units with certain accredited investors at a price of $550.00 per Unit resulting in gross proceeds of approximately $10.9 million. Each Common Stock Unit consisted of 1,000 shares of common stock and a five-year warrant to purchase up to 200 shares of common stock. The private placement offering was closed in several tranches beginning on April 30, 2010. Under the offering, Quantum issued a total of approximately 19.7 million shares of common stock, warrants to the investors to purchase up to approximately 3.9 million shares of common stock and warrants to the placement agent to purchase up to approximately 2.4 million shares of common stock. All of the warrants have an exercise price of $0.91 per share. The proceeds, net of placement agent fees and expenses, will be used for general working capital purposes. JP Turner& Company, L.L.C. acted as placement agent for the transaction.








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