BLDP - Ballard Announces Third Quarter 2007 Results Wednesday November 7, 11:45 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Nov 7, 2007 -- Ballard Power Systems (Toronto:BLD.TO - News)(NasdaqGM:BLDP - News), a world leader in the development, manufacture and sale of hydrogen fuel cells, announced its operating and financial results for the quarter ended September 30, 2007 today. All amounts are in U.S. dollars, unless otherwise noted.
"Ballard's positive financial results and overall increase in commercial market shipments in the third quarter show evidence of building momentum and solid execution," said John Sheridan, Ballard's President and Chief Executive Officer.
Financial Highlights: Third Quarter 2007
- Revenue growth of 53% to $17.6 million (2006Q3: $11.5 million).
- Product and service revenue grew 59% this quarter to $12.6 million (2006Q3: $7.9 million) as higher shipments in automotive, carbon fiber and power generation products as well as increased non-recurring engineering services for power generation were partially offset by a decline in field service for buses.
- Engineering development revenue grew 40% to $4.9 million in the third quarter (2006Q3: $3.5 million).
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