Danbury clean energy device manufacturer FuelCell Energy increased its second quarter revenues 75 percent while decreasing its year-over-year losses, according to company filings.
FuelCell generated $42.4 million in revenue in the second quarter vs. $24.2 million in the second quarter 2012. Production at its facilities increased 25 percent to 70 megawatts in the second quarter.
The company’s net loss dropped to $8.2 million, or 4 cents per share, vs. $9.1 million, or 6 cents per share, in the second quarter 2012.
FuelCell, like all fuel cell manufacturers, has never had a profitable quarter, as it hasn’t reached the production capacity to make money on its products. The company aims to be profitable – at least on an earnings before debt, interest, taxes, depreciation, and amortization basis – by the end of the year.
