Sevcon responded to the slowdown last year by moving into the hybrid controls segment. That effort hasn't resulted in large production runs yet. But several programs are believed to be in the pipeline. Sevcon's new Gen-4 system is geared primarily for the hybrid market. The company also has beefed up marketing efforts in northern Europe, where the economy remains sound. And pick-ups appear to be underway with the Renault and forklift truck lines. Results probably will improve modestly over the next 1-2 quarters as the new opportunities reach fruition. Significant gains are possible beyond. Electric vehicle demand could advance in the wake of Tesla Motors' recent success. The move into hybrid applications offers even greater potential. Our 2014 estimates may prove ambitious. But it won't take much to get earnings moving since only 3.35 million shares are outstanding.
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