Capstone Turbine Shares Slide as Q4 Revenue Misses View

0
746
Capstone Turbine, CPST, Industrial Electrical Equipment, Industrial goods
Capstone Turbine, CPST, Industrial Electrical Equipment, Industrial goods

Capstone Turbine (CPST) shares retreated in late trading Thursday after the maker of microturbine energy systems reported lower-than-expected revenue in its fiscal Q4 and matched Street expectations with earnings.

Shares were down as much as 7% in after-hours trading, although have trimmed that loss to 5%. The stock closed regular trading up 2% and is up 21% this year.

The company said net loss shrank to $3.4 million, or $0.01 loss per share, in the quarter, from a net loss of $4.1 million, or $0.01 loss per share, last year. That matched the consensus.in a Capital IQ survey.

Revenue improved to $36.4 million in the three-month period ended March 31, from $35.4 million, a year earlier. The result fell short of the $38.9 million average estimate of 6 analysts compiled by Capital IQ.

LEAVE A REPLY

Please enter your comment!
Please enter your name here