Ocean Power reports Q2 EPS (6c) vs. (4c) last year

Reports Q2 revenue $0.4M vs. $2.4M last year. Dr. Philipp Stratmann, OPT’s CEO said,” Despite the federal government being shut down for nearly half of our fiscal quarter, we continued to expand our pipeline and strengthen our position across our key markets. With operations now fully reopened, we are confident in the conversion of that pipeline into backlog. We believe that the heightened focus on national security and the southern maritime border has accelerated customer urgency, and we have already begun ramping buoy readiness for expected deployments. Internationally, we completed critical demonstrations in Latin America and the UAE for both defense and commercial customers, and we maintained our vehicle production cadence, shipping a WAM-V roughly every two to three weeks to meet demo and milestone commitments. We are executing with intensity and positioning OPT for meaningful growth.”