Capstone Turbine's 4Q Loss Widens

CHATSWORTH, Calif. (AP) — Capstone Turbine Corp. said on Monday that its fourth-quarter loss widened to $11.9 million as manufacturing costs rose.

The maker of low-emission microturbine systems said it lost 6 cents per share during the quarter that ended March 31, versus a loss of almost $9.9 million, or 7 cents per share, during the same period a year earlier.

Revenue rose 28 percent to $11.8 million.

The per-share loss matched the estimate of analysts surveyed by Thomson Reuters, but the reported revenue was well short of the $13.4 million they expected.

The company said it shipped 117 units during the fourth quarter, down from 14 during the same period a year earlier.

For the full year, Capstone said it lost $41.7 million, or 25 cents per share, versus a year-earlier loss of $36.1 million, or 25 cents per share, on fewer outstanding shares. Revenue rose 40 percent to $43.9 million from $31.3 million a year earlier.

Capstone shares fell a nickel, or 4.2 percent, to close at $1.15. They fell another 2 cents in late trading.