FuelCell Energy Reports Fourth Quarter and Fiscal Year 2004 Results and Accomplishments

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fcel_logo.gifFuelcell Energy Inc (FCEL) reported a net loss for the fourth quarter of fiscal 2004 of $20.8 million or $0.43 per basic and diluted share, compared to a net loss of $15.4 million or $0.39 per basic and diluted share in the same period of the previous year. Net loss from continuing operations was $0.37 per basic and diluted share. Revenues for the fourth quarter of fiscal 2004 were $8.9 million compared to $7.3 million in the same period a year ago. Net cash used during the quarter was $17.0 million, which included $1.5 million used in our discontinued Canadian operations. [ more ]

  • Received New Orders of 7.5 Megawatts During the Fiscal Year and Expanded Target Market Segments
  • Shipped 6 Megawatts and Increased Commercial Product Financial Backlog to $26.3 Million
  • Reduced DFC300A Product Cost by 25 Percent; Block Two Changes to be Implemented in Summer 2005
  • Strengthened Global Distribution Network
  • Improved Financial Position with Net Proceeds of $93.5 Million from Preferred Stock Offering

This announcement is better than expected and the loss of $0.37 is $0.07 better than consensus estimates.