FuelCell Energy Inc. (NASDAQ: FCEL) reported narrower loss for the fourth quarter as compared �to the prior year comparable quarter. The results were driven by the favorable impact of product cost reductions combined with growing revenue and production volume.
The company reported the net loss for the first quarter improved to $(11.7 million), or $(0.10) per basic and diluted share as compared to $(15.4 million) or $(0.18) per basic and diluted share in the first quarter of 2010.�This improvement resulted from higher product margins. The revenues for the first quarter were $28.1 million compared to $14.6 million in the same period last year. �The product sales and revenues in the first quarter were $25.8 million compared to $12.8 million in the prior year quarter as production was increased to meet growing order volume. The product sales and revenues included $20.4 million of power plants, fuel cell modules and fuel cell power plant components; $2.5 million of revenue from the sale of capital equipment to POSCO Power for their fuel cell module assembly facility as well as construction and installation services; and $2.9 million of revenue from service and power purchase agreements. The margins for product sales and revenues improved by $2.9 million as compared to the prior year quarter with the product cost-to-revenue ratio moving to 1.09-to-1.00 in the first quarter of 2011 from 1.41-to-1.00 in the first quarter of 2010.
The total product sales and service backlog as of January 31, 2011, was $159.2 million compared to $84.1 million as of January 31, 2010. �The product order backlog was $78.9 million and $58.3 million as of January 31, 2011, and 2010, respectively. �The backlog for long-term service agreements was $80.3 million and $25.8 million as of January 31, 2011, and 2010, respectively.
The company stock has traded in the range of $0.98 and $3.40 during the past 52 weeks. The company�s market cap is $236.54 million.
� Want buy and sell signals? Premium newsletter, 15% off annual subscription – sign up today!
� Need fast service and cheap rates from a broker? Click here to see my favorite place to trade FCEL
� Want more? Check out the message board buzz for FCEL
� See which newsletters are recommending this stock pick
� Get breaking news alerts on this stock: http://www.thestockmarketwatch.com/
No comments:
Post a Comment