FuelCell Energy Reports Q4 ResultsDecember 12, 2000 by Jeff Shepard
FuelCell Energy (Danbury, CT) has reported 2000 fourth quarter and year-end results. For the fourth quarter, ended 31 October 2000, FuelCell Energy reported a net loss of $1.4 million, or $0.09 cents per diluted share, compared with a profit of $0.5 million, or $0.4 cents per diluted share, during the same quarter of the previous year.
The company reported a net loss for the year ended 31 October, 2000, of $4.5 million, or $0.32 cents per diluted share, versus a loss of $985,000, or $.08 cents per diluted share, in the previous year.
Revenues increased to $20.7 million for fiscal 2000 as compared to revenues of $20.0 million for fiscal 1999. Revenues from field trials increased to $2.7 million in fiscal 2000 from $1.4 million in the prior year. Revenues from research and development contracts were $18.0 million in fiscal 2000 as compared to $18.6 million in the prior year. The company claims that the net loss for the year and the current period reflect the company's continuing investment in fuel cell commercialization.