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Capstone Turbine forecasts reduced revenue in FQ3

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

Capstone Turbine (NASDAQ:CPST-6% after-hours after disclosing select preliminary results for its December quarter and strategic changes to its internal sales and marketing organization.

CPST says FQ3 preliminary revenue fell 3.3% to $17.4M from $18M in the year-ago quarter, including a 22% Y/Y decline in product revenue to $7.9M that it expects will add to net losses and EBITDA results for the quarter.

Total cash and cash equivalents as of Dec. 31 are estimated to come in at $16.7M, vs. $20.9M as of Sept. 30.

Based on growth of its aftermarket business, CPST says it remains committed to its goal of reaching positive adjusted EBITDA in the June 2020 quarter.

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