Capstone Turbine Reports Select Preliminary Q2 Fiscal 2020 Financial Results
Q2 Fiscal 2020 Financial Results Webcast to be Held on Thursday, November 7, 2019, at 1:45 PM Pacific Time (4:45 PM Eastern Time)
VAN NUYS, CA / ACCESSWIRE / October 17, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, is announcing select preliminary results for its fiscal second quarter ended September 30, 2019.
Select Preliminary Financial Highlights of Fiscal 2020 Second Quarter:
- Total preliminary revenue for the second quarter was $20.7 million, an increase of $1.5 million, or 8%, from $19.2 million in the previous quarter.
- Total preliminary revenue was down 7% on a year-over-year basis as the company allocated 1.6 MW of production slots to grow its factory long-term microturbine rental fleet with no production slots allocated to rental units in the year-ago quarter.
- Book-to-bill ratio was 1.0:1 for the second quarter of fiscal 2020 up from 0.7:1 in the year-ago quarter.
- Total cash and cash equivalents as of September 30, 2019, are estimated to be $20.9 million, compared to $24.6 million as of June 30, 2019.
"We are executing well against our multiple strategic initiatives which should lead to a future of reduced quarterly cash burn, improved gross margins, lower direct material costs, and lower operating expenses," said Darren Jamison, President and Chief Executive Officer of Capstone. "We have demonstrated excellent progress on improving our business model in the near-term, which should be evident in our second quarter Adjusted EBITDA results," added Mr. Jamison.
Conference Call and Webcast
Capstone will host a live webcast on Thursday, November 7, 2019, at 1:45 PM Pacific Time (4:45 PM Eastern Time) to provide the results of the second quarter fiscal 2020, ended September 30, 2019. Capstone will discuss its financial results and will provide an update on its business activities. At the end of the conference call, Capstone will host a question-and-answer session to provide an opportunity for financial analysts to ask questions. Investors and interested individuals are invited to listen to the webcast by logging on to Capstone's investor relation's webpage at www.capstoneturbine.com. A replay of the webcast will be available on the website for 30 days.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST) is the world's leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup, providing scalable systems focusing on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid fuels and are the ideal solution for today's distributed power generation needs. To date, Capstone has shipped over 9,000 units to 73 countries and have saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.
This press release contains "forward-looking statements," as that term is used in the federal securities laws. Forward-looking statements may be identified by words such as "expects," "believes," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
"Capstone" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
Capstone Turbine Corporation
Investor and investment media inquiries:
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Shawn M. Severson
SOURCE: Capstone Turbine Corporation
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Released October 17, 2019