Capstone Announces First-Quarter 2002 Results

April 29, 2002 by Jeff Shepard

Capstone Turbine Corp. (Chatsworth, CA) reported revenue of $4.6 million for the quarter ended March 31, 2002, compared with revenue of $8.9 million for the first quarter of 2001. For the first quarter of 2002, Capstone's net loss was $12.0 million, or $0.16 per share, compared to a net loss of $9.5 million, or $0.12 per share, in the first quarter of 2001.

"We have implemented a number of initiatives designed to more effectively position Capstone to capitalize on the emerging distributed generation market," said Capstone Turbine President and CEO Ake Almgren. "These initiatives include focusing on the combined heat and power market, reducing the total installed costs for microturbine systems, and improving quality and reliability."