Capstone Turbine develops, manufactures, markets and services microturbine energy products and solutions. The company has shipped more than 5,000 Capstone microturbine systems until date.

Revenue for the quarter ending March 31 increased 33% year over year to $81.9 million. Capstone shipped 611 units, and average revenue per unit was $109,000 during fiscal 2011 vs. 499 units in fiscal 2010 at average revenue per unit of $98,000.

Capstone's backlog was $106.4 million, up 23% from the previous year.

Improved product margins and higher unit sales reduced the gross loss to $0.5 million from a gross loss of $8.4 million during fiscal 2010.

Cash and cash equivalents at the end of the March quarter increased $4.7 million to $34.7 million from the third quarter of fiscal 2011.

The average price target of analysts surveyed by Bloomberg implies the stock will gain 59% over the coming year. Eighty-three percent of analysts covering the stock rate it a buy, according to Bloomberg.

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