Capstone Turbine reports interim Q1 financial results

|About: Capstone Turbine Corporation (CPST)|By:, SA News Editor

Capstone Turbine (CPST -2.8%) reports preliminary Q1 revenue of ~$19.2M down from $21.2M last year

Product revenue decreased ~$3.5M to ~$10.1M, partially as the company allocated 1.6 MWs of product production slots to growing its long-term rental fleet and to a biogas-to-energy demonstration project in Asia.

During the quarter the company signed two new long-term rental contracts totaling 2.6 MWs with 1.0 MW being deployed Q1 2020 and 1.6 MWs to be deployed in the upcoming quarter.

Revenue from accessories, parts and service increased 20% Y/Y to $9.1M.

Cash and cash equivalents was ~$24.6M

Book-to-bill ratio was 1.7:1, with new gross product bookings up ~9% to $17.4M.

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