Ballard Power Systems
reported a wider-than-expected fourth-quarter loss, but said revenue rose sharply for the period due to an increase in automotive orders, strong demand for stationary power generators and robust investment income.
The Canadian fuel cell manufacturer said it lost 46.7 million Canadian dollars, or 53 cents a share, compared with 25.8 million Canadian dollars, or 31 cents a share, in the year-ago period. According to a poll by
First Call/Thomson Financial
, two analysts expected a loss of 26 cents for the quarter.
Sales for the period grew 31 million Canadian dollars from 18 million last year.
Shares of Ballard fell $3.81, or 5.9%, to $61.19 in Tuesday