July 30, 2010 / 11:25 AM / 7 years ago

UPDATE 1-Hydrogenics posts narrower Q2 loss on lower expenses

* Q2 loss $0.24/shr vs loss $1.63/shr yr ago

* Q2 revenue down 49 pct

July 30 (Reuters) - Canadian fuel-cell maker Hydrogenics Corp HYG.TO posted a narrower quarterly loss, primarily helped by reduced operating expenses.

For the second quarter, the company reported a net loss $1.0 million, or 24 cents a share, compared with a loss of $6.0 million, or $1.63 a share, a year earlier.

Revenue slumped 49 percent to $2.8 million, hurt by delays in shipments due to customer project delays.

Operating expenses were $2.3 million for the quarter, down 66 percent from a year ago.

The company said order backlog as of June 30 was $19.1 million.

Shares of the Mississauga, Ontario-based company closed at C$3.70 Thursday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Anne Pallivathuckal)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below