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alternative energy
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Below is one of our free research papers on alternative energy. If the term paper below is not exactly what you're looking for, you can search our essay database for other topics.
FuelCell Energy , Inc. (Nasdaq:FCEL), a leading manufacturer of high efficiency ultra-clean power plants using renewable and other fuels for commercial, industrial, government, and utility customers, today reported results and accomplishments for its first quarter ended January 31, 2010.
Financial Results FuelCell Energy reported total revenues for the first quarter of 2010 of $14.6 million compared to $21.7 million in the same period last year. Product sales and revenues in the first quarter were $12.8 million compared to $19.0 million in the prior year quarter. Product mix was primarily sales of stack modules to POSCO Power, FuelCell Energy 's manufacturing and distribution partner in South Korea compared to complete power plants in the prior year quarter resulting in lower overall product revenue. The Company's product sales backlog including long-term service agreements totaled $84.1 million as of January 31, 2010 compared to $70.9 million as of January 31, 2009. Margins on product sales and revenues improved over the prior year quarter by $4.7 million driven by sales of lower cost megawatt--class modules. The product cost-to-revenue ratio improved 7 percent to 1.41-to-1 in the first quarter compared to 1.52-to-1 in the first quarter of 2009. The ratio was negatively impacted by commissioning-related costs in South Korea and lower sales compared to the prior year quarter. Research and development contract revenue was $1.8 million compared to $2.7 million i...
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