FuelCell Energy Beats Fourth-Quarter Estimates - TheStreet

FuelCell Energy

(FCEL) - Get Report

posted a narrower-than-expected fourth-quarter loss, and revenue for the period more than doubled from a year ago.

The Danbury, Conn., electrochemical technology company said it lost $1.4 million, or 9 cents a share, in the fourth quarter, compared with earnings of $500,000, or 4 cents a share, in the same period last year. Eight analysts surveyed by

First Call/Thomson Financial

produced a consensus figure estimating a loss of 16 cents a share.

Revenue for the quarter rose to $8.1 million from $3.5 million last year.

The company also posted a full-year loss of $4.5 million, or 32 cents a share, compared with a loss of 8 cents a share in 1999. Analysts on average were expecting a loss of 49 cents a share. Revenue for the year rose to $20.7 million from $20 million for fiscal 1999.

Shares of FuelCell were halted before the news was released, but reopened and were trading down $4.38, or 6.4%, to $63.75 in

Nasdaq

activity.