Capstone Turbine Inc. reported on Thursday a wider net loss in its fiscal third quarter, which it blamed on a strong dollar and the global economy.
The Chatsworth alternative energy manufacturer posted a net loss of $3.9 million (-1 cent a share) for the quarter ended Dec. 31, compared with a net loss of $2.2 million (-1 cent) in the same period a year earlier. Revenue decreased 19 percent to $30.1 million.
Analysts on average expected a net loss of 1 cent a share on revenue of $38.4 million, according to Thomson Financial Network.
Chief Executive Darren Jamison attributed the drop in revenue to continuing global macroeconomic headwinds and the strong U.S. dollar. But he added that cost-structure improvements have led to a higher gross-margin percentages.
“Our distribution channels get stronger every quarter, our cash balance remains very healthy, and we are experiencing pockets of strength in key geographic and vertical markets,” he said in a prepared statement.
Shares closed up less than 2 cents, or about 2 percent, to 70 cents on the Nasdaq.
Wesco Aircraft Holdings Inc. posted fiscal first quarter earnings on Thursday that missed analyst forecasts, which it attributed to higher expenses related to an acquisition.
The Valencia aerospace supplier reported net income of $19.7 million (20 cents a share) for the quarter ended Dec. 31, compared with $24.4 million (25 cents) in the same period a year earlier. Revenue increased 66 percent to $374 million.
Analysts on average expected net income of 29 cents a share on revenue of $391 million, according to Thomson Financial Network.
The company said it experienced higher selling, general and administrative expenses resulting from the $550 million acquisition last year of Haas Group Inc., a supply-chain management firm in West Chester, Pa. Growth in operations as well as an increase in interest expense also contributed to lower net income.
Shares closed down 1 cent, or a fraction of 1 percent, to $13.04 on the New York Stock Exchange.