This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Capstone Turbine Announces Third Quarter Fiscal Year 2013 Operating Results

CHATSWORTH, Calif., Feb. 11, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced its financial results for the third quarter fiscal year 2013 ended December 31, 2012.

Third Quarter 2013 Highlights
  • Record quarter revenue of $33.3 million, up 21% year-over-year
  • Product revenue of $26.3 million, up 20% year-over-year
  • Shipments of 26.1 megawatts, compared to 23.5 megawatts year-over-year
  • Gross margin doubled year-over-year, from $2.3 million to $4.6 million, or 14% of revenue
  • Healthy product backlog of $136.5 million at December 31, 2012, up 19% year-over-year
  • Strong cash balance of $41.9 million at December 31, 2012

Management Commentary

"The third quarter of fiscal 2013 marked our best quarter as a whole in company history. We set another record for quarterly revenue, achieved a strong double digit gross margin percentage for the first time, and reduced our net loss significantly. We are continuing to make outstanding progress on our path to profitability," said Darren Jamison, Capstone's President and Chief Executive Officer.

Jamison added, "In January, we received some sizeable follow-on orders in the oil and gas sector, where we have significant opportunity to continue to capture market share, and we have seen some improvement in European order flow.

"We also entered the Chilean market for the first time with the sale of four C65s with our new distributor in the region and received an order for our first C1000 series product in China."

Third Quarter 2013 Financial Summary

Revenue for the third quarter of Fiscal 2013 was $33.3 million, an increase of 11% from $30.1 million for the second quarter of Fiscal 2013, and an increase of 21% from $27.5 million for the third quarter of Fiscal 2012. Capstone shipped 26.1 megawatts in the third quarter of Fiscal 2013, compared to 24.0 megawatts in the second quarter of Fiscal 2013 and 23.5 megawatts in the third quarter of Fiscal 2012.

Capstone's backlog as of December 31, 2012 was $136.5 million, compared to $141.1 million at September 30, 2012, and an increase of 19% from $115.1 million at December 31, 2011.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,661.85 +189.48 1.15%
S&P 500 1,969.51 +18.15 0.93%
NASDAQ 4,746.8040 +39.0290 0.83%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs