Wellington Drive Technologies continues to record losses, the latest being almost $1 million for the three months ended March.
The maker of energy-efficient batteries said sales in the three months of $7.6 million were behind the 11.5 million in the March quarter last year but it says it is on track to make annual sales between 30 million and 33 million.
The drop in quarterly sales reflects its exit from unprofitable business.
Chief executive Greg Allen said gross margin rose to 16.8% compared with 12.9% in the March quarter last year, the best Wellington Drive Technologies has achieved so far.
The company is targeting a margin between 18% - 20% this year.