News

Capstone Reports Third-Quarter 2003 Results

November 06, 2003 by Jeff Shepard

Capstone Turbine Corp. (Chatsworth, CA), a leading microturbine power systems manufacturer, reported its results for the quarter ended September 30, 2003. Revenue for the quarter was $2.3 million as compared with $3.9 million for the third quarter of 2002. Capstone shipped 1.9MW of product in the period, about 60% of the volume for the same period a year ago.

For the third quarter of 2003, Capstone's net loss was $9 million, or $0.11 per share, compared to a net loss of $10.8 million, or $0.14 per share, during the third quarter of 2002. As of September 30, 2003, Capstone had $119.9 million in cash and cash equivalents, with no long-term debt. The company's cash utilization was $6.4 million in the third quarter of 2003, compared to a use of $10.8 million in the third quarter of 2002.