FuelCell Energy Posts In-Line Q4 Loss, Sales Beat the Street

Shares of FuelCell Energy

are seeing some post-market volatility Monday afternoon following an inline quarterly report from the company. FuelCell reported fourth-quarter 2014 total sales of $44.4 million, up nearly 22 percent from the same quarter last year. Analysts on FuelCell were looking for quarterly sales of just $43.4 million. Product sales totaled $34.5 million, made up of $18.4 million in power plant and fuel cell kit sales, and $16.1 million in power plant component sales. The company posted a net loss of $11.4 million, or about $0.06 per share. This figure was a slight improvement from the $0.07 per share loss reported during the fourth quarter of 2013. Excluding the impact of special one-time items, FuelCell reported a non-GAAP loss of $0.04 per share. Analysts on FuelCell were looking for a $0.04 per share quarterly loss. FuelCell's President and CEO Chip Bottone said, "We remain on track for closing multiple megawatts of orders and my confidence level is high as we have negotiated contracts for projects where we are waiting on final customer or regulatory approval. Inquiries and activity levels globally remain high as we work to convert pipeline into backlog, supported by the validation from on-time completion of multi-megawatt fuel cell parks on two different continents." After trading up more than 11 percent during the mid-day session, FuelCell shares fell immediately following the release of the quarterly figures. Since marking an after-hours low under the $3.70 level, bulls have stepped up and are buying the stock; shares are now up another 3 percent from the closing price of $3.93. The stock has moved over an important level at $4 this evening. The fuelcell group has been one of the most momentous sectors over the last several weeks; shares of FuelCell, for example, are up more than 125 percent since Feb. 25th.