FuelCell Loss In Line, Revenue Misses; Stock Up 5%

(RTTNews) - FuelCell Energy Inc (FCEL), a maker of stationary fuel cell power plants, on Tuesday reported first-quarter net loss to equity holders of $4.9 million or $0.02 per share compared with a loss of $11.4 million or $0.06 per share last year.

The company's revenues for the quarter were higher at $41.7 million compared with $44.4 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.02 per share on revenues of $48 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin for the quarter improved to 9.6 percent from 4.9 percent last year, aided by cost reduction actions and sales mix, the company said.

CEO Chip Bottone said, "We remain focused on top-line revenue growth with projects progressing in our utility and on-site markets, as well as measurable progress being made with commercializing both our carbon capture and distributed hydrogen solutions."

The company's backlog was $337 million at January 2015 compared with $326.9 million a year ago.