Wall Street Journal today: "An unprofitable clean-tech company that would have been spurned by U.S. investors six months ago turned in the second-best IPO performance of the year Thursday... Electric car-battery maker A123 Systems Inc. jumped 54% on its first day of trading as a public company..."

So I hopped over to EDGAR and pulled out the Prospectus, here is some excerpt:

"We have never been profitable. We experienced net losses of $15.8 million for 2006, $31.0 million for 2007, $80.5 million for 2008, and $40.7 million for the six months ended June 30, 2009. We expect we will continue to incur net losses in 2009."

"We have had negative cash flow before financing activities of $29.1 million for 2006, $56.1 million for 2007, $76.0 million for 2008, and $62.2 million for the six months ended June 30, 2009. We anticipate that we will continue to have negative cash flow for the foreseeable future as we continue to make significant future capital expenditures... "

Hooray to exuberance.