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Jan 13 (Reuters) - FuelCell Energy Inc (FCEL.O: Quote, Profile, Research), a manufacturer of fuel-cell power plants for electric power generation, said it received a $30.2 million contract from the U.S. Department of Energy, sending its shares up as much as 23 percent.
The contract, awarded for a project's second phase extending from January 2009 through September 2010, is to build a minimum 25 kilowatt (kW) solid oxide fuel cell stack, the company said.
Raymond James analyst Pavel Molchanov said this contract win was a modest positive for FuelCell Energy.
"While it won't be a huge revenue contributor on its own, the long-term commercialization opportunities may be more significant," the analyst said in a note to clients.
For the fiscal year ended Oct. 31, 2008, FuelCell Energy had reported revenue of $100.7 million.
Molchanov also said though rising revenue and margin improvement should lead to a continual narrowing of losses over the next three years, he did not foresee profitability until fiscal 2011 to 2012.
Shares of the company were up 18 percent at $4.67 in morning trade Tuesday on Nasdaq. They had touched a high of $4.85 earlier in the session. (Reporting by Adveith Nair in Bangalore; Editing by Vinu Pilakkott)
[ 本帖最后由 qinsdau 于 2009-1-14 16:36 编辑 ] |
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