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FuelCell Energy Reports Third-Quarter 2004 Results

August 31, 2004 by Jeff Shepard

FuelCell Energy Inc. (FCE, Danbury, CT) reported results and accomplishments for the quarter and nine months ended July 31, 2004. The company reported a net loss for the third quarter of fiscal 2004 of $18.9 million or $0.39 per basic and diluted share, compared to $15 million, or $0.38 per basic and diluted share, in the same period of the previous year. Revenues for the third quarter of fiscal 2004 were $8.1 million compared to $7.3 million in the same period a year ago.

For the nine months ended July 31, 2004, FuelCell Energy reported a total net loss of $65.7 million, or $1.37 per basic and diluted share, including net income from discontinued operations of $0.8 million, or $0.02 per basic and diluted share. This compares to a net loss of $52 million, or $1.32 per basic and diluted share, during the nine months ended July 31, 2003.