Capstone Announces Second-Quarter 2002 ResultsAugust 08, 2002 by Jeff Shepard
Capstone Turbine Corp. (Chatsworth, CA) reported revenue of $7.4 million for the quarter ended June 30, 2002, compared with revenue of $13.6 million for the second quarter of 2001. This compares with revenue of $4.6 million for the first quarter of 2002, an increase of approximately 61 percent on a sequential quarterly basis. Capstone shipped 7.4MW of power during the second quarter of 2002, exceeding its guidance of 6.7MW for the quarter.
For the second quarter of 2002, Capstone's net loss was $30.8 million, or $0.40 per share, compared to a net loss of $10.3 million, or $0.13 per share, in the second quarter of 2001. Net loss for the second quarter of 2002 was $13.0 million, or $0.17 per share. The increase in net loss was primarily attributable to lower revenue and increased overhead related to the expansion of the company's production capabilities.