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Ballard Power Systems Q3 Net Loss Worse Than Expected; Gained 7% Tuesday

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Ballard Power Systems (BLD.TO), which gained 7% Tuesday, reported a third quarter net loss of US$9.0 million or $0.10 per share in Q3, a decline of 28% and $24.0 million or $0.28 per share year-to-date, an improvement of 8%.

The average earnings estimate from analysts was for a loss of $0.04.

Revenue of $14.2 million in Q3, represented a decline of $6.4 million and $38.0 million year-to-date, a decline of $17.0 million.

John Sheridan, President and CEO said, "Weak sales and revenue continued through the third quarter, against the backdrop of a challenging economy. As reflected in our revised guidance, supported by a recent strengthening in order activity, we expect stronger Q4 revenue. Also, we expect continuation of the improving trajectories in cash operating expense and cash flow."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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