FuelCell Energy Inc. in Danbury says higher product margins and revenues helped narrow its fiscal first-quarter loss.
The maker of clean-energy power generators lost $11.7 million, or 10 cents a share, in the three months ended Jan. 31, smaller than the $15.4 million, or 18 cents a share, lost the same period a year earlier.
First-quarter revenues more than doubled to $25.8 million from $12.8 million the same period last year.
Among FuelCell’s first-quarter highlights was California utility’s order for 1.4 megawatt generator, and an initial order from the United Kingdom for one of its units.
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The company also raised $18 million through a registered direct offering, enabling it to end the quarter with $70 million of cash and investments on hand.
