FuelCell Energy Reports First-Quarter 2002 Results
For the first quarter ended January 31, 2002, FuelCell Energy Inc. (Danbury, CT) reported a net loss of $6.0 million, or $0.15 per basic and diluted share, compared with a loss of $2.8 million, or $0.09 per basic and diluted share, during the same quarter of the previous year.
Revenues for the three months ended January 31, 2002, increased 31 percent to $7.0 million versus revenues of $5.3 million for the same quarter a year ago.
Cash, cash equivalents and investments decreased by $17.0 million in the quarter, which included $3.2 million for capital expenditures. Depreciation expense in the current quarter amounted to approximately $615,000, an increase of 63 percent over the same quarter a year ago.