Ballard Power (BLDP) Posts Inline Q2 Loss of 6c/Share

Ballard Power (NASDAQ: BLDP) reported Q2 EPS of ($0.06), in-line with the analyst estimate of ($0.06). Revenue for the quarter came in at $11.2 million versus the consensus estimate of $10.93 million.

Adjusted EBITDA2 of ($4.8) million, an increase in Adjusted EBITDA loss on a year-over-year basis, reflecting the decline in gross margin.

"Although we were disappointed with second quarter financial results, during the quarter we made important foundational progress on our journey to deliver long-term shareholder value with a business model featuring high growth, scale and sustainable profitability," said Randy MacEwen, President and CEO. "First, we announced a definitive agreement to acquire Protonex Technology Corporation, a private company with a strong growth trajectory based on compelling power management products and a portable fuel cell portfolio for use in military and industrial applications. Second, we are executing our China strategy, including new anchor partnerships in China for fuel cell buses and trams."

Mr. MacEwen continued, "We have a customer-centric business model, a committed team, a strong brand and industry leading technology, intellectual property, products and deployment experience."

Tony Guglielmin, CFO added, "With the closing of our recent equity financing, we have a strong balance sheet to support organic growth as well as M&A and investment opportunities. We continue to expect 2015 revenue from our current lines of business to be heavily weighted in the second half of the year, underpinned by significant progress in our sales pipeline for both Power Products and Technology Solutions platforms."

For earnings history and earnings-related data on Ballard Power (BLDP) click here.

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