Capstone Announces 1Q 2007 Results
Capstone Turbine Corporation (Nasdaq:CPST)reported results for its first quarter ended June 30, 2006 in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 9, 2006. Capstone’s revenue for the fiscal 2007 first quarter was $6.6 million, representing an increase of over 70% from $3.8 million for the prior year comparable quarter. However, this represents a decrease of 13% from the fourth quarter fiscal 2006 revenue of $7.6 million. “The year-over-year growth in revenue indicates that demand for microturbines is growing; however, new sales from the New York market are not increasing as quickly as originally planned. The delay in the MEA approval and extended product demonstrations have resulted in a longer than anticipated sales cycle. We remain confident that the New York market offers Capstone a substantial opportunity to grow; therefore, we have redoubled our efforts in this market,” said Mark Gilbreth, Capstone’s Interim President and CEO. Backlog at the end of the first quarter was $5.4 million, a decrease of over 55% from the end of the prior year comparable quarter and approximately 24% from the end of the prior quarter. The decrease in backlog reflects improved lead times from order to shipment […]