Capstone Reports Fiscal Third-Quarter 2003 Results

February 08, 2004 by Jeff Shepard

Capstone Turbine Corp. (Chatsworth, CA), a leading microturbine power systems manufacturer, reported results for its third fiscal quarter ended December 31, 2003. Revenue for the quarter was $3.3 million as compared with $3.6 million in the period a year ago. For the third quarter of fiscal 2004, Capstone's net loss was $11.6 million, or $0.14 per share, compared to a net loss of $20.7 million, or $0.26 per share, during the third quarter of fiscal year 2003.

Capstone CEO John Tucker said, "Our performance was off versus expectations due to some adjustments in deliveries to accommodate our customers' needs. However, we had a good order rate of 4.3 MW and we exited the quarter with 6.2 MW of product in backlog."