Plug Power Net Loss Deepens in Q1

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Plug Power (NASDAQ: PLUG  ) results for the company's fiscal Q1 2013 have been released. For the quarter, revenue totaled $6.4 million, a decline from the $7.8 million in the same period the previous year. Net loss deepened over the same time frame, coming in at $8.6 million ($0.18 per basic and diluted share) compared to Q1 2012's shortfall of $6.6 million ($0.28).

This most recent quarter's bottom line was affected by a $2.1 million non-cash charge that came about because of a change in the fair value of Plug Power's stock warrants.

In spite of the comparatively weak results, the company sounded an optimistic note on its future potential. It quoted its CEO Andy Marsh as saying that the firm's "sales prospects and funnel remain strong for the rest of the year, and we expect that the business steps taken over the past six months will result in increased customer traction."

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  • Report this Comment On May 15, 2013, at 9:36 AM, stockattackon wrote:

    Ummm.... there is another article released hours apart from this one stating that Q1 losses narrowed and the loss was considerably less than expected. Just go to PLUG stock and look at the updated articles there is one posted that contradicts this article. They were posted a few hours apart. Which one is correct?

  • Report this Comment On June 12, 2013, at 7:16 PM, rjames0107 wrote:

    I think the press release you saw may have been referring to 'operating loss' on the 10-Q, which was the loss before factoring in the 2.1 mil fair value loss on the stock warrants. The press release probably referred to the operating loss instead of the net loss (referred to in the article above) in order to paint a rosier picture, and some would probably argue that that is a more appropriate number to focus on.

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