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Thursday, Sep 29, 2022
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Capstone Turbine Narrows Loss

Capstone Turbine Corp. shares fell more than 8 percent in after-hours trading on Tuesday, even though the company reported a narrower fiscal year loss on higher revenue.

After the markets closed, the Chatsworth maker of micro-turbines reported a net loss of $38.5 million (-16 cents per share) for the fiscal year ended March 31, compared with a net loss of $67.2 million (-34 cents) in fiscal 2010. Annual revenue rose 33 percent to $81.9 million.

The company shipped 611 units in the fiscal year, 22 percent more than a year earlier.

The company did not break out quarterly financials. Its products are used in hybrid cars, and power generating devices.

The company’s backlog of orders totaled more than $106 million, 23 percent higher than a year earlier.

Before the results were released, shares closed up 2 cents, or less than 1 percent, to $1.72 on the Nasdaq. Shares then fell 8.5 percent in after-hours trading.

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