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FuelCell widens adjusted EBITDA loss in fiscal Q4, FY'18

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FuelCell widens adjusted EBITDA loss in fiscal Q4, FY'18

FuelCell Energy Inc. on Jan. 10 reported a fiscal fourth-quarter 2018 adjusted EBITDA loss of $8.8 million, compared to a loss of $5.0 million in the fourth quarter of fiscal 2017.

Net loss attributable to common stockholders during the quarter ending Oct. 31, 2018, was $17.9 million, or 19 cents per basic and diluted share, compared to $10.8 million, or 17 cents per basic and diluted share, a year ago. The results include a deemed dividend of $1 million on the company's series C convertible preferred stock and $2.1 million of redemption accretion on the company's series D convertible preferred stock.

Revenues for the quarter totaled $17.9 million, compared to $47.9 million in the fourth quarter of fiscal 2017.

For fiscal 2018, the company reported an adjusted EBITDA loss of $32.7 million, compared to a loss of $30.5 million in fiscal 2017.

Net loss attributable to common stockholders was $62.2 million, or negative 75 cents per share, compared to $57.1 million, or negative $1.14 per share, in fiscal 2017.

Revenue for the period totaled $89.4 million, a decrease from $95.7 million, in the prior-year period.