Shares of FuelCell Energy Inc. FCEL, -6.22% sank 8.7% in premarket trading Tuesday, after the alternative energy and fuel cell technology company reported a wider-than-expected fiscal first-quarter loss and revenue that fell more than forecast. The net loss for the quarter to Jan. 31 was $46.8 million, or 15 cents a share, after a loss of $41.1 million, or 20 cents a share, in the year-ago period. The FactSet consensus for net per-share losses was 4 cents. Total revenue declined 8.5% to $14.88 million, well below the FactSet consensus of $22.11 million. Service agreements and license revenue fell 12% to $4.9 million, generation revenue dropped 10% to $4.9 million, hurt by a temporary shutdown of several Bridgeport Fuel Cell Project plants, and advanced technologies contract revenue declined 3% to $5.1 million. Backlog decreased 7% to $1.27 billion. The stock has more than doubled (up 101.5%) over the past three months, while the S&P 500 SPX, +0.65% has gained 7.2%.
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