Capstone Turbine missed Wall Street estimates on earnings but beat them on revenue in its fiscal second quarter.
The Van Nuys manufacturer of microturbines reported on Tuesday a net loss of $4.4 million, (-7 cents a share) on revenue of $22.2. million for the quarter ending Sept. 30. That compares to a net loss of $3.7 million (-9 cents) on revenue of $19.8 million in the same period a year earlier.
Analysts on average expected earnings of -5 cents on revenue of $21.7 million, according to Thomson Financial Network.
Chief Executive Darren Jamison said he was pleased Capstone had double-digit year-over-year revenue growth despite a disruption in its factory protection plan revenue due to a transition to a new California distributor.
“We do, however, expect our service revenue to see a rebound in the third quarter and accelerate in the fourth quarter of fiscal 2019 as our service business normalizes from the California distributor change out and returns to growth,” Jamison said in a statement.
Shares of Capstone (CPST) closed up a fraction of a cent, or a fraction of a percent, to 85 cents on the Nasdaq.