NEW YORK (TheStreet) -- Shares of Capstone Turbine (CPST) were falling 19.7% to 45 cents after-hours on Monday after the industrial electrical equipment company missed analysts' estimates for earnings and revenue in its fiscal fourth quarter.
Capstone Turbine reported a loss of 5 cents a share for the fiscal fourth quarter, below analysts' estimates of a loss of 1 cent a share for the quarter. Revenue fell 17.9% year over year to $29.9 million for the quarter, below analysts' estimates of $35.35 million.
The company said it has a product backlog of $165.7 million as of March 31, 2015, compared to $175.5 million on December 31, 2014, and $171.6 million on March 31, 2014.
"In Fiscal 2015, Capstone adapted to challenging global and economic market dynamics in ways that have made us a more resilient company today and for the future," President and CEO Darren Jamison said. "We continued to make significant progress in strengthening our company by further diversifying our business, growing and maturing our distribution network, improving our product reliability, expanding into promising new geographies, and implementing cost savings."
Capstone Turbine develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications.
TheStreet Ratings team rates CAPSTONE TURBINE CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate CAPSTONE TURBINE CORP (CPST) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, poor profit margins and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: CPST Ratings Report