Capstone Turbine Corporation (CPST) saw its loss widen to $8.91 million, or $0.28 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $6.02 million, or $0.34 a share.
Revenue during the quarter dropped 5.94 percent to $20.18 million from $21.46 million in the previous year period. Gross margin for the quarter stood at negative 19.81 percent as compared to a positive 18.88 percent for the previous year period. Operating margin for the quarter stood at negative 50.18 percent as compared to a negative 27.29 percent for the previous year period.
Operating loss for the quarter was $10.13 million, compared with an operating loss of $5.86 million in the previous year period.
Darren Jamison, President and Chief Executive Officer of Capstone, said, "We have full confidence in our business profitability plan and believe that our results show the solid progress we have made to develop new revenue and growth opportunities, and we continue to grow our aftermarket service business, while at the same time streamlining our organization and reducing our cost structure to levels not seen in fourteen years."
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