Ballard Power (NASDAQ: BLDP) reported Q1 EPS of $0.05, $0.02 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $9.3 million versus the consensus estimate of $14.33 million.

"In the first quarter, we made progress building our foundation for long-term growth by achieving several key deliverables," said Randy MacEwen, President and CEO. "Most notably, through our newly positioned Technology Solutions platform, we completed a landmark transaction with Volkswagen Group that surfaced value from our intellectual property portfolio by combining it with our intellectual capital-intensive engineering services. This transaction enabled us to report a $7.0 million profit in the first quarter and strongly positions us for long-term automotive fuel cell exposure."

"We continue to expect 2015 revenue to be heavily weighted in the second half of the year. We are seeing significant progression of our sales pipeline based on repeat customer business and complemented by attractive new customers in both our Power Products and Technology Solutions platforms."

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