The Company is focused on the design, development, manufacture, sale and service of PEM fuel cells for a variety of applications.
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I have been following this company for the past 20 years. It looks to me like all of their hard work Is about to pay off over the next few years. Buy some now to get your feet wet.and buy more on weakness. Undervalued,misunderstood,and shunned by the all of the doubters,this Is a great opportunity to start accumulating shares of this very well managed company. Third quarter earnings will be released tomorrow (10/28/2010),they should have some good things to say. Onward and upward... TS
Ballard Power Systems 3rd quarter shows substantial Improvement,but stock still goes on sale... John Sheridan, President and CEO said "Our solid third quarter results provide further evidence that Ballard is building the capability for strong revenue growth in clean energy fuel cell products and driving aggressively to profitability. Revenue growth in the quarter was 83% and, on a year-to-date basis, now stands at 45%." He added that, "Our strong liquidity position, with cash reserves of $72.9 million, will enable us to deliver on strong growth prospects in our key fuel cell markets of backup power, distributed generation, material handling andbus."
Third quarter highlights.....
GROWTH
•Revenue of $16.5 million in the quarter and $43.9 million year-to-date, representing growth of 83% and 45%, respectively.
•Total shipments of 683 fuel cell stacks in the quarter and 1,895 fuel cell stacks year-to-date, representing growth of 137% and 105%, respectively.
?Backup power shipments grew 87% to 401 fuel cell stacks in the quarter, for a total of 1,010 fuel cell stacks year-to-date. This reflects shipments to IdaTech, LLC and regional system integrators in South East Asia and Europe.
?Material handling shipments more than doubled in the quarter to 211 fuel cell stacks. On a year-to-date basis, shipments were 755 fuel cell stacks, or more than four times the full-year total of 182 fuel cell stacks in 2009.
•Significant progress in distributed generation, including a sales agreement with K2 Pure Solutions for deployment of a CLEARgenTM fuel cell generator utilizing by-product hydrogen to be sited at a bleach plant in Pittsburg, California, as well as delivery of a utility-scale CLEARgenTM distributed generation system to FirstEnergy Generation Corp. in Ohio.
•Twelve-month rolling order book of $30.0 million.
Guidance
•Ballard reconfirms full-year guidance of revenue growth in excess of 35% and improvement in cash flow from operations of 30%, excluding the cash flow impact of Dantherm Power and a negative foreign exchange impact.