This is a cut & paste from 2nd qtr 2017. No product sales there at all and we should be around $3 million better off with taxes and a little better off on margins. According to what I read, we will also have some more (so be it just part of the quarter) generation income. We do have a couple projects which may be completed in the quarter. Thinking $20-$23 million which is right about last year's 2nd quarter or slightly better. The 3rd quarter should beat significantly and we should have several significant developments before 3rd quarter announcements. 2nd from 2017 below!
FuelCell Energy (the Company) reported total revenues for the second quarter of 2017 of $20.4 million, compared to $28.6 million for the comparable prior year period. Revenue components include:
Service and license totaled $12.6 million for the current period compared to $10.4 million for the second quarter of 2016, with the increase reflecting module exchanges in the current period.
Generation totaled $1.6 million for the current period compared to $0.2 million for the second quarter of 2016. The increase reflects the growth in the operating portfolio. As of April 30, 2017 the Company’s operating portfolio totaled 11.2 megawatts under long-term power purchase agreements with five customers and 7.9 megawatts under construction at three locations. A 1.4 megawatt project and a 7.4 megawatt letter of intent were announced subsequent to quarter end and may be added to the Generation portfolio in future quarters.
Product totaled $0.7 million for the current period compared to $15.4 million for the second quarter of 2016. There were no Asian sales in the current quarter unlike the prior year period as South Korean partner, POSCO Energy, is now manufacturing locally under license and royalty agreements.
Advanced Technologies totaled $5.4 million for the current period compared to $2.6 million for the comparable prior year period as new contracts were added.
The gross profit generated in the second quarter of 2017 totaled $0.4 million and the gross margin for the period was 1.9 percent, compared to a gross loss of ($0.2) million incurred for the second quarter of 2016. Margins from the Generation portfolio, Advanced Technology and Service contracts were partially offset by Product gross loss from under-absorption of fixed overhead costs reflecting the low factory production
