FuelCell Energy Reports Second-Quarter Results
FuelCell Energy (Danbury, CT) reported revenues of $6.5 million for the second quarter ended April 30, 2001. This is up 32 percent from the company’s revenues of $4.9 million in the same quarter of 2000. Net loss for the period was $5.1 million, or $0.32 per diluted share, compared with a net loss of $1.7 million, or $0.13 per diluted share, for the second quarter ended April 30, 2000. For the six months ended April 30, 2001, revenues were $11.8 million, a 39-percent increase from revenues of $8.5 million for the same period in 2000. Net loss for the six months was $7.9 million, or $0.50 per diluted share, compared with a net loss of $1.7 million, or $0.13, in the previous year.
“The increased attention on the needs for new sources of clean electric power and our nation's energy strategy has put an additional spotlight on the commercial potential of fuel cell power plants,” said Jerry D. Leitman, president and CEO. “We have been working to meet the milestones that will enable our Direct FuelCell products to become an important part of the world's energy mix. During the second quarter, we moved forward in several key areas that continue to place us at the forefront of stationary fuel cell power plant development and manufacturing.”