February 21, 2008 / 4:55 AM / 10 years ago

Ballard posts $15.9 million net loss in 4th quarter

TORONTO (Reuters) - Ballard Power Systems BLD.TO BLDP.O reported on Wednesday a net loss for the fourth quarter of 2007 of $15.9 million, or $0.14 per share, compared with a net loss of $128.7 million, or $1.13 per share, a year earlier.

The Vancouver, British Columbia-based company said the 88 percent decrease in its net loss was primarily due to $114.6 million of losses from discontinued operations recorded in the last quarter of 2006 related to Ballard’s disposition of its electric drive operations.

Loss from continuing operations increased 13 percent in the fourth quarter of 2007 to $15.9 million, or $0.14 per share, compared with a loss from continuing operations of $14.1 million, or $0.12 per share, for the same period in the previous year.

Reporting by Renato Andrade; Editing by Ben Tan

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