Yesterday, after the market closed, Capstone Turbine (NASDAQ:CPST) released earnings for its first fiscal quarter. The top line number was well below consensus estimates and grabbed the attention of investors and traders. The shares were hammered after hours and dropped as low as $1.10 shortly after the market opened on Friday - a decline of $0.26 (19.1%) - before recovering a little later in the session. In late afternoon trading the shares were at $1.15-$1.16, a percentage loss in the mid-teens.
It was expected that there would be a decline from the record $35.1 million revenue of the fourth quarter of fiscal 2012, but the magnitude caught many by surprise. I had been expecting a larger drop than...
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