Satcon 2Q Loss Narrows Even As Revenue Falls

BOSTON (AP) — Satcon Technology Corp., a maker of power generation products for the alternative energy industry, said Thursday that its second-quarter loss narrowed as lower charges offset a decline in revenue.

The Boston-based company lost $7.1 million, or 13 cents per share, compared with a loss of $9.1 million, or 18 cents, in the same quarter a year ago.

Revenue fell 31 percent to $9.2 million from $13.4 million.

Satcon missed analysts' expectations, which on average were revenue of $15 million and a loss of 8 cents per share, according to Thomson Reuters.

Last year's second quarter saw a $2.4 million markdown in the fair value of warrant liabilities and a $524,000 loss from discontinued operations, among other items.

In contrast, the just-concluded quarter had a gain of $1.78 million in the same securities and no losses from discontinued businesses.

Shares of Satcon fell 20 cents, or 9.2 percent, to $1.98 in after-hours trading on Thursday. The stock was down 9 cents, or 4 percent, to close at $2.18 in the regular session.