Fuelcell maker Ballard Power's loss narrows on new orders

Tue Jul 29, 2014 8:50pm EDT
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July 29 (Reuters) - Canada's Ballard Power Systems Inc reported a smaller second-quarter loss, helped by continuing demand for its fuelcells that are used in forklifts and telecom networks.

Ballard's net loss narrowed to $4.5 million, or 3 cents per share, in the quarter ended June 30, from $5.2 million, or 5 cents per share, a year earlier.

The Burnaby, British Columbia-based company's revenue rose 27 percent to $18.5 million.

Ballard's U.S.-listed shares, which have risen more than 18 percent in the past 3 months, closed at $4.32 on the Nasdaq on Tuesday. (Reporting by Shubhankar Chakravorty and Narottam Medhora in Bangalore; Editing by Lisa Shumaker)