LONDON, April 7, 2015 /PRNewswire/ --
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Investor-Edge.com has issued free earnings report on FuelCell Energy Inc. (NASDAQ: FCEL). On March 10, 2015, the company reported its financial results for Q1 FY15 (period ended January 31, 2015). Click on http://get.Investor-Edge.com/pdf/?c=FuelCell%20Energy&d=07-Apr-2015&s=FCEL to read our free earnings review on FuelCell Energy Inc. (FuelCell). During Q1 FY15, the company's total revenues were $41.67 million and gross profit was $4.01 million. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=FuelCell%20Energy&d=07-Apr-2015&s=FCEL
Earnings Overview
During Q1 FY15, FuelCell's total revenues decreased by $2.76 million from $44.43 million in Q1 FY14. The company's total revenues fell short of Bloomberg analysts' forecast of $48.05 million for Q1 FY15. In the reported quarter, product sales were $33.42 million compared to $34.46 million in Q1 FY14. The company's service agreements and license revenues came in at $3.87 million for Q1 FY15 compared to $4.96 million in Q1 FY14. Moreover, FuelCell's advanced technologies contract revenues stood at $4.38 million in Q1 FY15 compared to $5.01 million in Q1 FY14. Free research on FCEL can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=FuelCell%20Energy&d=07-Apr-2015&s=FCEL
In Q1 FY15, FuelCell's gross profit increased by $1.82 million from $2.20 million in Q1 FY14. The company's gross margin improved to 9.6% in Q1 FY15 from 4.9% in Q1 FY14. The year-over-year margin improvement reflects cost reduction actions and sales mix. The company's net loss attributable to common shareholders narrowed down to $4.87 million, or $0.02 loss per diluted share, in Q1 FY15 from net loss attributable to common shareholders of $11.40 million, or $0.06 loss per diluted share, in Q1 FY14. Analysts from Bloomberg had expected FuelCell to report net loss attributable to common shareholders of $6.46 million, or $0.02 loss per diluted share, in Q1 FY15.
President and CEO of FuelCell, Chip Bottone, stated that the gross margin nearly doubled this quarter compared to the prior year period on lower revenue, as the company aligns the operating model of the business with market opportunities, including cost reductions, production efficiency improvements, and enhancing the profitability profile of the Services and Advanced Technology groups. He asserted that the company remains focused on top-line revenue growth with projects progressing in its utility and on-site markets, as well as measurable progress being made with commercializing both its carbon capture and distributed hydrogen solutions.
For Q1 FY15, FuelCell's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled ($4.08) million compared with adjusted EBITDA of ($6.29) million in Q1 FY14. Net cash used by operating activities in Q1 FY15 was $2.3 million. Moreover, capital spending and depreciation expenses were $1.6 million and $0.96 million, respectively, in Q1 FY15. Sign up and read the free analyst's notes on FCEL at:
http://get.Investor-Edge.com/pdf/?c=FuelCell%20Energy&d=07-Apr-2015&s=FCEL
As of January 31, 2015, FuelCell's liquidity totaled $155.0 million, which included $111.9 million in cash and restricted cash, $3.1 million of borrowing availability under the JPMorgan revolver, and $40.0 million of borrowing availability under the NRG Energy revolving financing facility.
Stock Performance
On the day following the earnings release, March 11, 2015, FuelCell's stock gained 2.34% to end the session at $1.31. Since then, the company's stock has witnessed a mixed momentum. On Monday, April 06, 2015, the company's shares finished at $1.33, 4.72% below its previous day's closing price of $1.27, after vacillating between $1.27 and $1.35. A total of 4.04 million shares were traded which was above their three months average volume of 3.86 million. The stock has gained 6.40% in the previous three trading sessions. However, over the last one month and over the past three months, the company's shares have lost 5.67% and 8.28%, respectively. Further, shares in FuelCell closed above their 50-day moving average of $1.27. Furthermore, the stock has a Relative Strength Index (RSI) of 49.45. Visit Investor-Edge and access the latest research on FCEL at:
http://get.Investor-Edge.com/pdf/?c=FuelCell%20Energy&d=07-Apr-2015&s=FCEL
Sneak Peek to Corporate Insider Trading
In the last one month, there were 5 insider transactions made by 5 individuals. On April 02, 2015, a total of 213,631 shares of the company were bought at an average price of $1.27 per share and for a total value of $271,311. The following are some of the transactions during the aforementioned period: John A. Rolls, Chairman of the Board at FuelCell, purchased 92,483 shares at an average price of $1.27; Richard A. Bromley, James H. England, William A. Lawson, and Togo Dennis West, Jr., Directors at FuelCell, bought 30,287 shares each at an average price of $1.27 per share. Complimentary in-depth research on FCEL is available at:
http://get.Investor-Edge.com/pdf/?c=FuelCell%20Energy&d=07-Apr-2015&s=FCEL
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