Capstone Turbine Reports Fiscal Q2 2017 Financial Results

25% Reduction in Net Loss Fueled by 33% Reduction in Operating Expenses from Prior Year

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CHATSWORTH, Calif., Nov. 09, 2016 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, reported financial results for its second quarter of fiscal 2017 ended September 30, 2016.

The company reported total revenue of $15.0 million for the second quarter of fiscal 2017 and a net loss of $5.9 million, or $0.19 per share. This compares with total revenue of $17.9 million and a net loss of $7.9 million, or $0.48 per share, reported for the second quarter of fiscal 2016. Operating expenses for the quarter decreased 33% to $6.4 million from $9.6 million in the year-ago quarter. Weighted average shares outstanding for the quarter ended September 30, 2016 were 30.5 million compared with 16.6 million in the year-ago quarter.

Darren Jamison, President and Chief Executive Officer of Capstone, said, "Our focus remains fixed on diversifying our customer base and geographic presence while increasing our business in the CHP/energy efficiency markets. To support our sales initiatives, we developed new strategic relationships to provide financing options for our distributors and end use customers."

"We continue to focus on areas where we can reduce expenses and lean out our business. Also, we recently completed a new capital raise that was intended to keep customers, vendors and employees "tucked in" during these times when our revenue has been less predictable due to the nature and timing of our emerging CHP business. As a team, we remain firmly focused on our path to profitability, lowering our expenses, building our revenue, diversifying our business, launching new products and partnerships, and strengthening our balance sheet," added Jamison.

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