Tesla Motors, the electric car company founded by Elon Musk, posted its fourth quarter earnings on Wednesday.
The company earned $306 million, but posted losses of $89.9 million, or 65 cents a share, higher than the 57 cents per share predicted by analysts.
The total loss was higher than last year's, though the loss per share was lower.
After the announcement, Tesla shares fell 6 percent in extended trading, however, the company's stock price is still up 14 percent for the year.
The company did say it expects to post a profit early in 2013. It also plans to build and deliver 20,000 Model S electric sedans -- 15,000 of which are already reserved, with 13,000 cash down payments in Tesla's hands.
"If we were to close all of our stores today, we'd be sold out basically for the whole year," said Musk in a call with investors. "We've got reservations for roughly 15,000 cars, over and above what we've already delivered."
"Many of our reservation holders and potential customers have yet to experience Model S. That will change this year. We are on a journey to expand the presence of Model S and turn profitable."
Tesla still has a challenging road ahead in convincing the public that electric cars are reliable and practical. John Broder, a New York Times reporter, published a scathing review of the Model S two weeks ago, claiming that his test model ran out of charge on the side of the road, necessitating a tow on a flatbed truck.
Tesla stock tanked immediately before Musk responded, calling the review a "fake" and releasing the computer logs of the trip, which contradicted Broder's account in many places.
Eventually rhe New York Tiimes public editor weighted in, claiming Broder demonstrated "problems with precision and judgment, but not integrity."
Other coverage of the Model S has been overwhelmingly positive, and the sedan won MotorTrend's prestigious Car of the Year Award for 2012.
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