Capstone Turbine (NASDAQ: CPST) reported annual losses that widened to 25 cents per share from 20 cents per share last year on lackluster revenue growth. On an annual basis, revenue grew just 1%, even as the company was expecting double-digit growth.
Meanwhile, the manufacturer of microturbine energy systems said its Q4 revenues grew 4% to $22 billion, surpassing the street view of $21.06 billion.
Product revenue increased 11% to $12.8 million, driven by the replacement of underperforming distributors in key markets and the overall continued maturation of the global distribution network.
Adjusted EBITDA loss was $2.2 million, compared to adjusted EBITDA of $0.1 million in the year ago period.
CPST shares rose 1.30% during aftermarket trading on Tuesday. The stock has lost 48% of its value over the past 12 months.
READ: 10 biggest US mergers & acquisitions announced so far in 2019
During the fourth quarter of fiscal 2019, Capstone shipped 11.8 megawatts and booked new gross product orders of approximately $18 million. This is compared with $15.4 million of new gross product orders booked during the year-ago period.
In April, the company had reported preliminary Q4 results, where it said quarterly product revenue improved 11% in Q4, lifting the total revenue up 4%.
Most Popular
AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard