Capstone Turbine Lowers Third-Quarter Sales ExpectationsAugust 22, 2001 by Jeff Shepard
Capstone Turbine Corp. (Chatsworth, CA) announced that it has substantially lowered its expectations for sales of its 30kW and 60kW microturbine units during the quarter ending September 30, 2001, and for the full year 2001.
"We reported in our SEC filing for the second quarter that a large portion of our sales occurred during the latter part of that quarter, and that the trend appeared to be continuing into the third quarter," said Dr. Ake Almgren, president and CEO of Capstone Turbine. "We pointed out then that, as a result, it was difficult for us to forecast the level of sales that might occur in the third quarter. So far during the third quarter, we have not yet begun to see a pickup in our order flow like we experienced in the latter part of the second quarter, while sales during the first half of the third quarter have lagged substantially behind those during the first half of the prior quarter. So we are lowering our expectations today accordingly."