96.5 F
San Fernando
Thursday, Mar 28, 2024

Production and Net Loss Up for Capstone

Capstone Turbine Corp. widened its net loss in the second quarter when compared with the previous year. The Chatsworth-based designer and manufacturer of micro-turbines reported a net loss of $9.9 million, or $0.06 per diluted share, on revenues of $13.1 million. For the same period a year ago, the company reported a net loss of $8.5 million loss, or $0.06 per diluted share, on revenues of $7.2 million. Bright spots during the quarter included the early launch of the C200 product line and shipping 172 micro-turbine units, an increase by 79 percent over the same period a year ago. “This quarter we increased production rates and achieved $13 million in revenue while having another strong bookings quarter with over $17 million in new orders,” said Capstone’s President and Chief Executive Officer Darren Jamison. Capstone was able to cut down its research and development costs by taking part in a cost-sharing program with UTC Power Corp. for the commercialization of the C200 but saw an increase in labor and travel costs associated with expanding worldwide distribution and launching the C200 and C1000 lines. Shares in Capstone closed up at $1.45.

Featured Articles

Related Articles