FuelCell Energy Inc. (FCE, Danbury, CT), a manufacturer of electric power generation plants, reported results and accomplishments for the company's third quarter and nine months ended July 31, 2005. FuelCell Energy reported a net loss to common shareholders for the third quarter of fiscal 2005 of $18.6 million, or $0.38 per basic and diluted share, compared to $19.2 million, or $0.40 per basic and diluted share, in the same period of the previous year.
Cash, cash equivalents, and investments (US Treasuries) as of July 31, 2005, totaled $191.5 million. Cash used in the quarter was approximately $20.5 million, including capital expenditures of $3.8 million and cash dividends of approximately $1.5 million on convertible preferred stock. Capital expenditures included approximately $3.3 million for plants being built for power purchase agreements. Depreciation expense for the three-month period ended July 31, 2005, was $2.1 million. FuelCell Energy's consolidated revenue for the third quarter of fiscal 2005 was $8.7 million, compared to $8.1 million for the third quarter of fiscal 2004.
For the nine months ended July 31, 2005, FuelCell Energy reported a total net loss to common shareholders of $54.7 million, or $1.14 per basic and diluted share, including net loss from discontinued operations of $1.3 million, or $0.03 per basic and diluted share. This is an improvement over a net loss of $66.4 million, or $1.39 per basic and diluted share, including net income from discontinued operations of $0.8 million, or $0.02 per basic and diluted share, during the nine months ended July 31, 2004. Adjusted net loss to common shareholders and adjusted basic and diluted loss per share were $54.2 million and $1.13 per share, respectively, for the nine months ended July 31, 2004.
