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Tuesday, May 24, 2016 2:11:44 PM
just re-read their PR for the results and saw this factoid which when you stand back is quite amazing:
Had approximately 9,400 GenDrive units under service contracts and/or PPA as of March 31, 2016, as compared to approximately 5,400 GenDrive units under service contracts and/or PPA as of March 31, 2015;
So effectively doubled their installed base in a year. doubling teh quarterly service revenues and with :
a) better coverage of service personel and
b) a fix on the reliability issue of Ballard stacks (so they can do preventative maintenance under their schedule)
should all bode well for future service revenues and margins (making service close to breakeven?)
we know revenues are going 50% per annum but installed base was close to 100% a year growth!
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