Hydrogenics Reports Fourth Quarter 2010 Results
Loss from operations was $9.0 million, an improvement of $10.7 million or 54% as a result of increased revenues, improved gross profit and reduced operating expenses.
Cash and cash equivalents, restricted cash and short-term investments were $9.0 million as at December 31, 2010, a $2.7 million sequential quarterly decrease reflecting: (i) a $1.6 million net loss, excluding non-cash items; (ii) a $1.0 million increase in non-cash working capital; and (iii) $0.1 million of capital expenditures.
Order BacklogOrder backlog as at December 31, 2010 was $17.1 million, as follows (in $ millions):
|Sept. 30, 2010 Backlog||Orders Received||Orders Delivered||Dec. 31, 2010 Backlog|
|OnSite Generation||$ 15.5||$ 2.2||$ 4.1||$ 13.6|
|Total||$ 19.4||$ 3.5||$ 5.8||$ 17.1|
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