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Capstone Loss Less Than Wall St. Expectations

Capstone Turbine Corp. reported a small net loss on Monday for the third fiscal quarter that beat analyst expectations. The Chatsworth manufacturer of electricity-generated turbines reported a net loss of $323,000 (-1 cent) for the quarter ended Dec. 31, compared to a loss of $10.7 million (-31 cents) for the same quarter a year ago. Revenue in the quarter increased 12.8 percent to $22.8 million. Analysts on average expected a loss of 6 cents on revenue of $23 million, according to Thomson Financial Network. “Our net loss improved 97 percent over last year’s third quarter and Capstone was nearly net income neutral,” Chief Executive Darren Jamison said in a statement. “This is certainly a historic milestone in Capstone’s 30-year history and positions the company for its next stage of evolution.” The company said it received a large order in October that allowed it to plan production during the quarter. The company announced results after market close. Shares of Capstone (CPST) closed down 3 cents, or -4 percent, to 70 cents on the Nasdaq. In afterhours trading, shares gained 7.5 percent to 75 cents.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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