Capstone Turbine Announces First-Quarter Results
Capstone Turbine Corp. (Chatsworth, CA) reported its results for the quarter ended March 31, 2003. Revenue for the quarter was $2.8 million as compared with $4.6 million for the first quarter of 2002. Capstone shipped 1.3MW of power during the first quarter of 2003, compared with 4.7MW during the first quarter of 2002.
For the first quarter of 2003, Capstone's net loss was $7.6 million, or $0.09 per share, compared to a net loss of $12 million, or $0.16 per share, during the first quarter of 2002. Gross loss in the quarter was $2.2 million, compared to $3 million for the same period in the prior year. The reduction in gross loss was primarily from increased sales of parts, accessories and service, and higher average selling prices of microturbines.