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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 Backlog

Order 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
Power Systems  3.9  1.3   1.7  3.5
Total $ 19.4 $ 3.5 $ 5.8 $ 17.1

Conference Call Details

Hydrogenics will hold a conference call at 10 a.m. ET on March 29, 2011 to review the fourth quarter and 2010 results. The telephone number for the conference call is (877) 307-1373, or, for international callers, (678) 224-7873. A live webcast of the call will also be available on the Corporation's website at .

The webcast will be archived on the site, and investors will be able to access an encore recording of the conference call for one week by calling (800) 642-1687, conference ID 45429803#. The encore recording will be available two hours after the conference call has concluded.

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