Earnings: Capstone, Point.360Thursday, February 9, 2017
Capstone Turbine Corp.’s beat analyst expectations despite a substantial loss.
The Chatsworth manufacturer of small electricity-generating turbines reported a net loss of $8.9 million (-26 cents a share) on revenue of $20.2 million for the quarter ended Dec. 31. That compares to a net loss of $6 million (-34 cents) for the same quarter last year.
Analysts on average expected a net loss of 24 cents a share on revenue of $20.2 million, according to Thompson Financial Network.
“We have full confidence in our business profitability plan and believe that our results show the solid progress we have made to develop new revenue and growth opportunities,” Chief Executive Darren Jamison said in a statement. “We continue to grow our aftermarket service business, while at the same time streamlining our organization and reducing our cost structure to levels not seen in 14 years.”
Capstone shares closed up 4 cents or 5 percent to 74 cents on the Nasdaq.
Point.360, a Los Angeles digital post-production management company, reported a net loss of $3.6 million (-28 cents a share) on revenue of $6.6 million for the quarter ended Dec. 31. That compares to a net loss of $2.3 million (-18 cents) for the same quarter a year ago.
No analysts follow the company.
“The timing of revenues has put pressure on the company's cash flow. In response to lower revenues, operating costs have been reduced,” Chief Executive Haig Bagerdjian said in a statement.
Point.360 shares closed unchanged at 32 cents on the Nasdaq.