FuelCell Energy (NASDAQ: FCEL) reported Q4 EPS of ($0.38), $0.10 worse than the analyst estimate of ($0.28). Revenue for the quarter came in at $51.5 million versus the consensus estimate of $44.63 million.

Total backlog was $381.4 million as of October 31, 2015 compared to $333.9 million as of October 31, 2014 and $338.3 million at July 31, 2015.

• Product sales backlog totaled $90.8 million as of October 31, 2015 compared to $113.1 million as of October 31, 2014.
• Service backlog totaled $254.1 million as of October 31, 2015 compared to $196.8 million as of October 31, 2014.
• Advanced Technologies contracts backlog totaled $36.5 million as of October 31, 2015 compared to $24.0 million as of October 31, 2014.

Business Highlights

• United Illuminating purchased its fourth megawatt class fuel cell power plant for a town-wide micro-grid project. FuelCell Energy possesses the expertise and capabilities to model, build and operate this micro-grid, a differentiator in the distributed power generation industry.
• Alameda County, California entered into a power purchase agreement (PPA) for a new 1.4 megawatt fuel cell plant at a correctional facility. This PPA structure is well suited for municipalities to avoid the capital investment in clean on-site power generation.
• Commercial operations began in November 2015 for the grid-support application in Bridgeport, Connecticut purchased by United Illuminating and service revenue from the multi-year service agreement will begin to be recognized.
• Recent progress in the development of multi-megawatt fuel cell parks, includes another development step for the 63 megawatt project in Connecticut with the November site visit and public hearing by the Connecticut Siting Council and the permitting body for siting power generation facilities in the State of Connecticut. The draft decision from the Council is expected in January 2016.
• Advanced Technology backlog at fiscal year-end 2015 included four contracts executed with the U.S. Department of Energy and totaling $39.0 million, including cost-share: (1) $23.7 million project to site a DFC3000® power plant adjacent to an existing coal-fired power plant for both carbon capture and ultra-clean power generation, (2) $10.9 million project to install and operate a 400 kilowatt solid oxide fuel cell power plant, (3) $3.1 million project for automated manufacturing of SOFC, and (4) $1.3 million project adapting existing SOFC stack technology for hydrogen production utilizing a solid oxide electrolyzer cell (SOEC) at very high efficiency.

For earnings history and earnings-related data on FuelCell Energy (FCEL) click here.