FuelCell Energy ! (Seite 593)

[linkshaender]

Antwort auf Beitrag Nr.: 60.142.665 von aufschwungost am 19.03.19 18:19:29

Das hat Circle-Jerk doch schon mehrfach beantwortet.
Einfach lesen und nicht nur ignorieren!

[aufschwungost]

Wer drückt das Ding jeden Tag 5% in den Keller.
Das Unternehmen hat doch gar keine News veröffentlicht und fällt jetzt schon 20 Tage am Stück.

[STEV-o]

Ohje, das schaut gar nicht gut aus. Kann aber auch ganz schnell wieder in die andere Richtung gehen... oder noch weiter runter. Wie gesagt, ein großer gamble hier.

[Belfort84]

Hoffen wir mal, dass die 0.30 USD halten.

[aufschwungost]

Aua! Ich dachte die 0.40 USD halten. Offensichtlich lag ich da falsch.

[Circle_Jerk]

Antwort auf Beitrag Nr.: 60.080.547 von Bergfreund am 12.03.19 17:16:44

Zitat von Bergfreund: Zur katastropjalen Gesamtsituation siehe auch seeking alpha vom 8.3.2018 mit dem Titel
On the Verge of Bankruptcy!

Keine Knete mehr,massenhafte Aktienausgaben...Aktienschnitt 3/4 zu 1 droht in Kürze...timeline
an der Börse ende Mai!!!

Es sieht bitter aus..vermute das nach dem Aktienschnitt erneut Shortfonds auftreten werden.

Bf

Der Reverse Split wird ziemlich sicher 1:12 ausfallen. Und ja, das Unternehmen wird weiter neue Aktien an die in die letzten Finanzierungen involvierten Hedge Fons ausgeben müssen, was den Kurs wieder abschmieren lassen wird.

Aber erst einmal brauchen sie eine Genehmigung von der Hauptversammlung Anfang nächsten Monats. Für den Split, für die Erhöhung des genehmigten Aktienkapitals und weitere Dinge. Wenn sie Aktionäre diese Dinge ablehnen, ist es vorbei.

[Bergfreund]

Antwort auf Beitrag Nr.: 60.043.334 von Circle_Jerk am 07.03.19 15:56:12

Zur katastropjalen Gesamtsituation siehe auch seeking alpha vom 8.3.2018 mit dem Titel
On the Verge of Bankruptcy!

Keine Knete mehr,massenhafte Aktienausgaben...Aktienschnitt 3/4 zu 1 droht in Kürze...timeline
an der Börse ende Mai!!!

Es sieht bitter aus..vermute das nach dem Aktienschnitt erneut Shortfonds auftreten werden.

Bf

[Circle_Jerk]

Schlechte Zahlen wie immer. Unrestricted Cash nur noch wenige Millionen oberhalb der in den Kreditbedingungen geforderten Mindestgrenze. Sie brauchen ganz dringend frisches Geld in den nächsten Wochen.

[Wildschwein]

Antwort auf Beitrag Nr.: 60.042.149 von Wildschwein am 07.03.19 14:14:07

Q12019

https://s21.q4cdn.com/256256048/files/doc_financials/4Q18/FC…

[Wildschwein]

Antwort auf Beitrag Nr.: 60.040.541 von MichiMischtMit am 07.03.19 11:30:15

over 0 million of new project construction finance commitments

Q1 2019 Results

FuelCell Energy Reports First Quarter Fiscal 2019
Financial Results and Business Update
 Arranged over $100 million of new project construction finance commitments in the first
quarter of fiscal 2019
 Completed the construction phase of our high efficiency SureSource 4000 plant solution
DANBURY, CT – March 7, 2019 -- FuelCell Energy, Inc. (Nasdaq: FCEL), a global leader in delivering
clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, today
reported financial results for its first fiscal quarter ended January 31, 2019 and key business highlights.
Financial Results
FuelCell Energy, Inc. (the Company) reported total revenues for the first quarter of fiscal 2019 of $17.8
million, compared to total revenues of $38.6 million for the first quarter of fiscal 2018, including:
 Service and license revenues totaled $11.8 million for the first quarter of fiscal 2019 compared to
$4.1 million for the first quarter of fiscal 2018. The increase is primarily due to a higher number
of scheduled module replacements under the Company’s service agreements in the first quarter of
fiscal 2019, as well as the benefit of the long-term service agreement with Korea Southern Power
Company (“KOSPO”) in South Korea entered into during fiscal 2018.
 Generation revenues totaled $1.5 million for the first quarter of fiscal 2019 compared to $1.9
million for the first quarter of fiscal 2018. Revenue was lower primarily due to the timing of plant
maintenance in the first quarter of fiscal 2019 compared with the first quarter of fiscal 2018.
 Advanced technologies contract revenues totaled $4.5 million for the first quarter of fiscal 2019
compared to $3.1 million for the first quarter of fiscal 2018. Revenue was higher for the first
quarter of fiscal 2019 primarily due to the timing and mix of activity under existing contracts.
 Product revenues decreased $29.5 million for the first quarter of fiscal 2019 compared to the first
quarter of fiscal 2018. The decrease is primarily a result of the completion of deliveries in fiscal
2018 under a 20 megawatt (MW) order for a utility project owned by KOSPO.
The gross loss generated in the first quarter of fiscal 2019 totaled $2.2 million, compared to $4.6 million
of gross profit generated in the first quarter of fiscal 2018.
Operating expenses for the first quarter of fiscal 2019 totaled $13.0 million compared to $10.2 million for
the first quarter of fiscal 2018. This increase is related to spending to complete the development and
construction of the SureSource 4000 plant located in Danbury, Connecticut as well as higher professional
related and sales and marketing expenditures due to business activities in the first quarter of fiscal 2019.
Net loss attributable to common stockholders for the first quarter of fiscal 2019 totaled $33.0 million, or
$0.33 per basic and diluted share, compared to $8.4 million, or $0.12 per basic and diluted share, for the
first quarter of fiscal 2018. Net loss attributable to common stockholders in the first quarter of fiscal
2019 includes a deemed dividend totaling $0.5 million and redemption value adjustments of $8.6 million
on the Company’s Series C Convertible Preferred Stock, as well as a deemed dividend of $1.9 million and
$3.8 million of redemption accretion on the Company’s Series D Convertible Preferred Stock. See the
appendix at the end of this release for further details regarding the deemed dividend, redemption value
adjustments and redemption accretion. Together, these non-cash items accounted for approximately $0.15
of the loss per share in the quarter.
FUELCELL ENERGY FIRST QUARTER FISCAL 2019 RESULTS PAGE 2
Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA, a Non-GAAP
measure) in the first quarter of fiscal 2019 totaled ($12.1) million compared to ($2.8) million in the first
quarter of fiscal 2018. Refer to the discussion of Non-GAAP financial measures below regarding the
Company’s calculation of Adjusted EBITDA.
Backlog and Project Awards
The Company had a contract backlog totaling approximately $1.3 billion as of January 31, 2019
compared to contract backlog of approximately $638.5 million as of January 31, 2018.
 Services and license backlog totaled $291.2 million as of January 31, 2019 compared to $178.7
million as of January 31, 2018. Services backlog includes future contracted revenue from routine
maintenance and scheduled module exchanges for power plants under service agreements.
 Generation backlog totaled $982.4 million as of January 31, 2019 compared to $414.5 million as
of January 31, 2018. Generation backlog represents future contracted energy sales under
contracted power purchase agreements between the Company and the end-user of the power. The
previously announced 7.4 MW Long Island Power Authority (“LIPA”) project in Yaphank, New
York was added to Generation backlog during the first quarter of fiscal 2019.
 Advanced technologies contract backlog totaled $37.0 million as of January 31, 2019 compared to
$43.1 million as of January 31, 2018.

Backlog represents definitive agreements executed by the Company and our customers. Projects with
respect to which the Company intends to retain ownership are included in generation backlog, which
represents future revenue under long-term power purchase agreements. Projects sold to customers (and
not retained by the Company) are included in product and service backlog. Project awards referenced by
the Company are notifications that the Company has been selected, typically through a competitive
bidding process, to enter into definitive agreements. These awards have been publicly disclosed. The
Company is working to enter into definitive agreements with respect to these project awards and, upon
execution of a definitive agreement with respect to a project award, that project award will become
backlog. Project awards that were not included in backlog as of January 31, 2019 include the remaining
32.4 MW LIPA project awards (which are expected to become generation backlog). These awards in total
represent approximately $636.3 million of future revenue potential over the life of such LIPA projects,
assuming the Company retains ownership of the LIPA projects.
Cash, restricted cash and borrowing ability
Cash, cash equivalents, restricted cash, and restricted cash equivalents totaled $68.2 million as of January
31, 2019, including $27.8 million of unrestricted cash and cash equivalents and $40.5 million of restricted
cash and cash equivalents.
The Company also has $90 million of borrowing ability under the project financing loan agreement with
Generate Capital, which may be available for the manufacture, construction, installation, commissioning
and start-up of stationary fuel cell projects approved by Generate Capital.
Project Assets
Long term project assets consist of projects developed by the Company that are structured with power
purchase agreements (PPAs), which generate recurring monthly Generation revenue and cash flow, as
well as projects the Company is developing and expects to retain and operate. Long term project assets
totaled $109.8 million as of January 31, 2019, with such project assets consisting of five previously
completed projects totaling 11.2 MW plus costs incurred to date for previously announced projects that
are under various stages of construction.
FUELCELL ENERGY FIRST QUARTER FISCAL 2019 RESULTS PAGE 3
Business Highlights and Recent Developments – First Quarter Fiscal 2019
 Entered into a $100 million project finance facility with Generate Lending that the Company
expects to use to finance the construction, installation and commissioning of certain of the
Company’s current and future project backlog and awards.
 Completed construction of the first SureSource 4000 fuel cell located in Danbury, Connecticut.
 Continued to execute on 83.1 MW of projects in the generation portfolio backlog.
“Overall, our first quarter was about executing on our longer term vision of building a sustainably
profitable and growth oriented business focused on service solutions” said Chip Bottone, President and
Chief Executive Officer, FuelCell Energy. “Core to this was the establishment of a number of new
project financing relationships that provide FuelCell Energy with efficient capital to continue to develop
and build out our project backlog. In addition, we just completed the development and construction of our
high efficiency utility scale SureSource 4000 located in Danbury, Connecticut. We are committed to
driving our business towards profitability, and this quarter’s accomplishments were major steps towards
that goal.”
Conference Call Information
FuelCell Energy management will host a conference call with investors beginning at 10:00 a.m. Eastern
Time on Thursday, March 7, 2019 to discuss the first quarter results for fiscal 2019. Participants can
access the live call via webcast on the Company website or by telephone as follows:
 The live webcast of this call and supporting slide presentation will be available at
www.fuelcellenergy.com. To listen to the call, select “Investors” on the home page, proceed
to the “Events & Presentations” page and then click on the “Webcast” link listed under the
March 7
th earnings call event listed, or click here.
 Alternatively, participants can dial 647-689-4106 and state FuelCell Energy or the conference
ID number 5884968.
The replay of the conference call will be available via webcast on the Company’s Investors’ page at
www.fuelcellenergy.com approximately two hours after the conclusion of the call.
Cautionary Language
This news release contains forward-looking statements within the meaning of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements with
respect to the Company’s anticipated financial results and statements regarding the Company’s plans and
expectations regarding the continuing development, commercialization and financing of its fuel cell
technology and business plans. All forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those projected. Factors that could cause such a
difference include, without limitation, changes to projected deliveries and order flow, changes to
production rate and product costs, general risks associated with product development, manufacturing,
changes in the regulatory environment, customer strategies, unanticipated manufacturing issues that
impact power plant performance, changes in critical accounting policies, potential volatility of energy
prices, rapid technological change, competition, and the Company’s ability to achieve its sales plans and
cost reduction targets, as well as other risks set forth in the Company’s filings with the Securities and
Exchange Commission. The forward-looking statements contained herein speak only as of the date of this
press release. The Company expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statement to reflect any change in the Company’s expectations or any
change in events, conditions or circumstances on which any such statement is based.
About FuelCell Energy
FUELCELL ENERGY FIRST QUARTER FISCAL 2019 RESULTS PAGE 4
FuelCell Energy, Inc. (NASDAQ: FCEL) delivers state-of-the-art fuel cell power plants that provide
environmentally responsible solutions for various applications such as utility-scale and on-site power
generation, carbon capture, local hydrogen production for both transportation and industry, and long
duration energy storage. Our systems cater to the needs of customers across several industries, including
utility companies, municipalities, universities, government entities and a variety of industrial and
commercial enterprises. With our megawatt-scale SureSource™ installations on three continents and with
more than 8.0 million megawatt hours of ultra-clean power produced, FuelCell Energy is a global leader in
designing, manufacturing, installing, operating and maintaining environmentally responsible fuel cell
distributed power solutions. Visit us online at www.fuelcellenergy.com and follow us on Twitter
@FuelCell_Energy.
SureSource, SureSource 1500, SureSource 3000, SureSource 4000, SureSource Recovery, SureSource Capture, SureSource
Hydrogen, SureSource Storage, SureSource Service, SureSource Capital, FuelCell Energy, and FuelCell Energy logo are all
trademarks of FuelCell Energy, Inc.
Contact: FuelCell Energy, Inc.
[e-mail]
203.205.2491
Source: FuelCell Energy
# # # #
FUELCELL ENERGY FIRST QUARTER FISCAL 2019 RESULTS PAGE 5
FUELCELL ENERGY, INC.
Consolidated Balance Sheets
(Unaudited)
(Amounts in thousands, except share and per share amounts)
January 31,
2019
October 31,
2018
ASSETS
Current assets:
Cash and cash equivalents, unrestricted $ 27,750 $ 39,291
Restricted cash and cash equivalents – short-term 5,601 5,806
Accounts receivable, net 8,321 9,280
Unbilled receivables 12,387 13,759
Inventories 54,802 53,575
Other current assets 8,273 8,592
Total current assets 117,134 130,303
Restricted cash and cash equivalents – long-term 34,863 35,142
Project assets 109,819 99,600
Property, plant and equipment, net 47,405 48,204
Goodwill 4,075 4,075
Intangible assets 9,592 9,592
Other assets 23,067 13,505
Total assets $ 345,955 $ 340,421
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt $ 38,869 $ 17,596
Accounts payable 19,905 22,594
Accrued liabilities 11,051 7,632
Deferred revenue 17,213 11,347
Preferred stock obligation of subsidiary 951 952
Total current liabilities 87,989 60,121
Long-term deferred revenue 22,769 16,793
Long-term preferred stock obligation of subsidiary 15,282 14,965
Long-term debt and other liabilities 66,883 71,619
Total liabilities 192,923 163,498
Redeemable Series B preferred stock (liquidation preference of $64,020 at
January 31, 2019 and October 31, 2018) 59,857 59,857
Redeemable Series C preferred stock (liquidation preference of $7,470 and $8,992
as of January 31, 2019 and October 31, 2018, respectively) 7,470 7,480
Redeemable Series D preferred stock (liquidation preference of $25,426 and
$30,680 as of January 31, 2019 and October 31, 2018, respectively) 26,851 27,392
Total Equity:
Stockholders’ equity
Common stock ($0.0001 par value; 225,000,000 shares authorized at
January 31, 2019 and October 31, 2018; 108,415,259 and 95,672,237
shares issued and outstanding at January 31, 2019 and October 31, 2018,
respectively) 11 10
Additional paid-in capital 1,074,308 1,073,454
Accumulated deficit (1,015,069) (990,867)
Accumulated other comprehensive loss (396) (403)
Treasury stock, Common, at cost (156,501 at January 31, 2019 and October 31,
2018) (363) (363)
Deferred compensation 363 363
Total stockholders’ equity 58,854 82,194
Total liabilities and stockholders’ equity $ 345,955 $ 340,421
FUELCELL ENERGY FIRST QUARTER FISCAL 2019 RESULTS PAGE 6
FUELCELL ENERGY, INC.
Consolidated Statements of Operations
(Unaudited)
(Amounts in thousands, except share and per share amounts)
Three Months Ended
January 31,
2019 2018
Revenues:
Product $ - $ 29,530
Service and license 11,772 4,104
Generation 1,479 1,892
Advanced Technologies 4,532 3,087
Total revenues 17,783 38,613
Costs of revenues:
Product 3,422 26,137
Service and license 12,319 3,406
Generation 1,636 1,609
Advanced Technologies 2,611 2,826
Total cost of revenues 19,988 33,978
Gross (loss) profit (2,205) 4,635
Operating expenses:
Administrative and selling expenses 6,759 6,142
Research and development expense 6,280 4,046
Total costs and expenses 13,039 10,188
Loss from operations (15,244) (5,553)
Interest expense (2,464) (2,141)
Other income, net 160 476
Loss before benefit for income taxes (17,548) (7,218)
Benefit for income taxes - 3,035
Net loss (17,548) (4,183)
Series B preferred stock dividends (800) (800)
Series C preferred stock deemed dividend and redemption value adjustment (9,005) (3,463)
Series D preferred stock deemed dividend and redemption accretion (5,685) -
Net loss attributable to common stockholders $ (33,038) $ (8,446)
Loss per share basic and diluted:
Net loss per share attributable to common stockholders $ (0.33) $ (0.12)
Basic and diluted weighted average shares outstanding 99,860,421 72,024,811
FUELCELL ENERGY FIRST QUARTER FISCAL 2019 RESULTS PAGE 7
Appendix
Further Detail on Statement of Operations Accounting for the Series C Convertible Preferred Stock
and the Series D Convertible Preferred Stock:
Net loss attributable to common stockholders in the first quarter of fiscal 2019 includes a deemed
dividend totaling $0.5 million on the Company’s Series C Convertible Preferred Stock, redemption value
adjustments of $8.6 million also on the Company’s Series C Convertible Preferred Stock, deemed
dividends totaling $1.9 million on the Company’s Series D Convertible Preferred Stock, as well as $3.8
million of redemption accretion on the Company’s Series D Convertible Preferred Stock. Installment
conversions of the Company’s Series C Convertible Preferred Stock in which the conversion price was
below the adjusted conversion price of $1.50 per share, $0.58 per share, $0.50 per share, or $0.43 per
share (as in effect on applicable installment conversion dates) resulted in a variable number of shares
being issued to settle the installment amount and were treated as a partial redemption of the Series C
Convertible Preferred Stock. Installment conversions of the Company’s Series D Convertible Preferred
Stock in which the conversion price was below $1.38 (the conversion price of the Series D Convertible
Preferred Stock as of January 31, 2019) resulted in a variable number of shares being issued to settle the
installment amount and were treated as a partial redemption of the Series D Convertible Preferred Stock.
The Series C Convertible Preferred adjustment of $8.6 million for the first quarter of fiscal 2019 reflects
the trigger of a beneficial conversion feature resulting from the reduction in conversion price and the
resulting adjustment of the instrument to redemption value. The Series D Convertible Preferred Stock
redemption accretion of $3.8 million for the first quarter of fiscal 2019 reflects the accretion of the
difference between the carrying value and the amount that would be redeemed should stockholder
approval not be obtained for common stock issuance equal to 20% or more of the Company’s outstanding
voting stock prior to the issuance of the Series D Convertible Preferred Stock.
Non-GAAP Financial Measures
Financial Results are presented in accordance with accounting principles generally accepted in the United
States (“GAAP”). Management also uses non-GAAP measures to analyze and make operating decisions
on the business. Earnings before interest, taxes, depreciation and amortization (EBITDA) and Adjusted
EBITDA are alternate, non-GAAP measures of cash utilization by the Company.
These supplemental non-GAAP measures are provided to assist readers in determining operating
performance. Management believes EBITDA and Adjusted EBITDA are useful in assessing performance
and highlighting trends on an overall basis. Management also believes these measures are used by
companies in the fuel cell sector and by securities analysts and investors when comparing the results of
FuelCell Energy with those of other companies. EBITDA differs from the most comparable GAAP
measure, net loss attributable to FuelCell Energy, Inc., primarily because it does not include finance
expense, income taxes and depreciation of property, plant and equipment and project assets. Adjusted
EBITDA adjusts EBITDA for stock-based compensation and restructuring charges, which are considered
either non-cash or non-recurring.
While management believes that these non-GAAP financial measures provide useful supplemental
information to investors, there are limitations associated with the use of these measures. The measures are
not prepared in accordance with GAAP and may not be directly comparable to similarly titled measures of
other companies due to potential differences in the exact method of calculation. The Company's nonGAAP financial measures are not meant to be considered in isolation or as a substitute for comparable
FUELCELL ENERGY FIRST QUARTER FISCAL 2019 RESULTS PAGE 8
GAAP financial measures, and should be read only in conjunction with the Company's consolidated
financial statements prepared in accordance with GAAP.
The following table calculates EBITDA and Adjusted EBITDA and reconciles these figures to the GAAP
financial statement measure Net loss.
Three Months Ended January 31,
(Amounts in thousands) 2019 2018
Net loss $ (17,548) $ (4,183)
Depreciation 2,199 2,128
Benefit for income taxes - (3,035)
Other (income)/expense, net (1)
(160) (476)
Interest expense 2,464 2,141
EBITDA $ (13,045) $ (3,425)
Stock-based compensation expense 982 617
Adjusted EBITDA $ (12,063) $ (2,808)
(1) Other (income) expense, net includes gains and losses from transactions denominated in foreign currencies, changes in
fair value of embedded derivatives, and other items incurred periodically, which are not the result of the Company’s
normal business operations.