"Tesla Motors To Post Its First Profit"

"Tesla sold more of its electric cars than expected in the first three months of the year, and it adjusts its first-quarter guidance to 'full profitability.'"

"Tesla Motors Inc. is poised to turn a profit for the first time, based on stronger-than-expected sales of its premium electric cars.

The Palo Alto automaker sold about 4,750 of its Model S sedans in the first quarter, about 250 more than it projected in February. The automaker on Monday predicted "full profitability' in an amendment to its guidance for first-quarter performance.

'There have been many car start-ups over the past several decades, but profitability is what makes a company real,' Tesla co-founder and Chief Executive Elon Musk said in a statement. 'Tesla is here to stay and keep fighting for the electric car revolution.'  "

Ronald D. White reports for the Los Angeles Times April 2, 2013.

Source: LA Times, 04/02/2013