News

# H Power Reports Q4 2002 and Year-End Results

August 07, 2002 by Jeff Shepard

H Power Corp. (Belleville, NJ) reported its fiscal 2002 fourth-quarter and year-end results for the period ended May 31, 2002. For the fourth quarter ended May 31, 2002, total revenue was $1.1 million, versus$0.8 million in the fiscal fourth quarter of 2001. The net loss for the quarter was $7.5 million, or$0.14 per share, versus a net loss of $11.4 million, or$0.21 per share, in the year-ago period. Weighted average basic and diluted shares outstanding for the fiscal 2002 fourth quarter were 53.8 million, compared with 53.4 million in the same period last year.

For the fiscal year ended May 31, 2002, total revenue was $2.6 million, versus revenues of$3.6 million for the fiscal year 2001. The net loss for the fiscal year 2002 was $27.9 million, or$0.52 per share, compared with a net loss of $22.2 million, or$0.44 per share in the fiscal year ended 2001. Weighted average basic and diluted shares outstanding for the year-end were 53.9 million, compared with 50.4 million in the fiscal year 2001.