UPDATE 1-Capstone Turbine posts wider Q2 loss; shares fall

Mon Nov 9, 2009 10:34pm GMT
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* Q2 loss/shr of $0.17 vs year-ago loss/shr $0.06

* Q2 revenue rises 18 pct

* Shares down 10 pct after the bell

Nov 9 (Reuters) - Capstone Turbine Corp (CPST.O: Quote, Profile, Research), a maker of low-emission microturbine systems, posted a wider second-quarter loss, largely due to a charge related to the change in fair value of warrant liability, sending its shares down 10 percent.

For the quarter ended Sept. 30, the company posted a net loss of $31.9 million, or 17 cents a share, including the charge of $19.6 million.

It had posted a net loss of $9.9 million, or 6 cents a share, a year earlier.

Revenue, however, jumped 18 percent to $15.5 million as average revenue per unit rose to $91,000 from $58,000 a year ago, helped by the introduction of some higher-priced products.

The company's backlog as of Sept. 30 climbed 18 percent to $59.3 million from the year-ago period.

Analysts on average were expecting Capstone to post a loss 9 cents a share, on revenue of $14.9 million, according to Thomson Reuters I/B/E/S.

Shares of the company were trading at $1.07 after the bell. They closed at $1.19 Monday on Nasdaq. (Reporting by Biswarup Gooptu in Bangalore; Editing by Deepak Kannan)

 
 
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