Plug Power +9% premarket as orders seen quadrupling in 2014

|About: Plug Power, Inc. (PLUG)|By:, SA News Editor

Plug Power (PLUG+8.9% premarket after issuing Q4 results that beat revenue estimates and predicting orders will rise more than fourfold this year to more than $150M.

Unadjusted net loss widened to $28.9M from $8.47M in the year-ago quarter, mainly because of a $20M charge related to a change in the fair value of previously issued common stock warrants.

Bookings reached $32M in the quarter, as strong product sales and maintenance orders were received from large companies such as Wal-Mart, Kroger, BMW and Mercedes-Benz; shipments fell 46% Y/Y to 279 units.

“I am more bullish than ever that Plug Power is moving into a rapid growth cycle,” CEO Andy Marsh says, expecting EBITDA to break even by Q3.

Also: BLDP +7.5%, FCEL +5% premarket.