Capstone Turbine Corp. reported a small net loss on Monday for the third fiscal quarter that beat analyst expectations.
The Chatsworth manufacturer of electricity-generated turbines reported a net loss of $323,000 (-1 cent) for the quarter ended Dec. 31, compared to a loss of $10.7 million (-31 cents) for the same quarter a year ago. Revenue in the quarter increased 12.8 percent to $22.8 million.
Analysts on average expected a loss of 6 cents on revenue of $23 million, according to Thomson Financial Network.
“Our net loss improved 97 percent over last year’s third quarter and Capstone was nearly net income neutral,” Chief Executive Darren Jamison said in a statement. “This is certainly a historic milestone in Capstone’s 30-year history and positions the company for its next stage of evolution.”
The company said it received a large order in October that allowed it to plan production during the quarter.
The company announced results after market close. Shares of Capstone (CPST) closed down 3 cents, or -4 percent, to 70 cents on the Nasdaq. In afterhours trading, shares gained 7.5 percent to 75 cents.