FuelCell Energy Inc., a Danbury manufacturer of clean-burning power plants, said its net loss narrowed in the fiscal third quarter despite a slowdown in revenues.
The company lost $15.7 million, or 21 cents a share, in the three months ended July 31, compared to $26.8 million, or 39 cents a share, lost the same period a year earlier.
Revenues declined to $23 million in the latest quarter from $27.9 million a year ago due to difficult credit markets and corporate delays in capital spending, FuelCell said.
The company’s product backlog, including long-term service agreements, was $104.8 million at quarter end, compared to the $100.7 million reported as of July 31, 2008.Â
FuelCell said it is in discussions with project developers and financiers for the 43.5 megawatts of fuel cell projects approved under Connecticut’s renewable portfolio standards (RPS) that requires utilities to purchase 27 percent of their peak electricity needs, or about 1,000 megawatts, from clean power sources by 2020.
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