Plug Power Inc. (Latham, NY), a fuel-cell development and manufacturing company, reported financial results and accomplishments for the quarter ended September 30, 2004. Total revenue for the third quarter ended September 30, 2004, was $4.6 million compared to $3.5 million for the third quarter of 2003. Year-to-date total revenue was $11.6 million compared to $9.5 million during the same period in 2003. Deferred revenue was $6.5 million at September 30, 2004.
Net loss for the quarter was $11.7 million, or $0.16 per share, compared to $12.4 million, or $0.20 per share, for the same period in 2003. Year-to-date, the net loss was $34.9 million, or $0.48 per share, compared to $39.0 million, or $0.68 per share, for the same period last year. Net cash used in operating activities for the third quarter ended September 30, 2004, was $7.3 million, compared to $8.3 million in the third quarter of 2003. Year-to-date, net cash used in operating activities was $25.8 million, compared to $27.6 million in the prior year, which included $3.2 million related to H Power.
