(Reuters) - Electric car maker Tesla Motors Inc on Tuesday cut its forecast for 2012 revenue, citing a slower-than-expected rollout of its Model S sedan.
The company said in a regulatory filing that it now expects full-year revenue in the range of $400 million to $440 million, down from its prior outlook of $560 million to $600 million.
"We have methodically increased our Model S production at a rate slower than we had earlier anticipated," the company said in documents filed with the U.S. Securities and Exchange Commission.
"Certain suppliers have experienced delays in meeting our demand and we continue to focus on supplier capabilities and constraints," the company added.
Tesla said it expects third-quarter revenue in the range of $44 million to $46 million, reflecting the lower deliveries of cars. The company said it expects its gross profit margin in the quarter - now expected to be in the range of negative 15 percent to negative 18 percent - to be hurt by the limited number of Model S sedans.
Tesla said it expects gross margin in the fourth quarter to "improve substantially and turn positive" as it ramps up Model S volumes and cuts costs.
(Reporting By Ben Klayman in Detroit; Editing by Gerald E. McCormick)
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