Polar Power Q3 net sales fall, net loss widens
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Polar Power Q3 net sales decline 74% yr/yr due to geopolitical and tariff issues. Q3 net loss widens to $4.08 mln from $0.01 mln income last year. Backlog increases to $5.3 mln, indicating potential future sales growth. Company plans to renegotiate largest customer’s contract to reduce tariff impact and aims for 15k-20k generators annually. Inventory write-downs of $1.97 mln and excess inventory of largest customer affected sales.
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