Boston, MA 06/06/2014 (wallstreetpr) – FuelCell Energy Inc (NASDAQ:FCEL) didn’t have an impressive second quarter in terms of the sales and revenues. The second quarter witnessed an unexpected decline in sales. However, the company said that the second quarter will be much better. The sales in the second quarter came at $38.3 million. The next two quarter sales are expected to come in a range of $50 million to $60 million. The revenue should be more than $100 million in the next half of the year. The company has lucrative orders in hand and is set to get new orders in the coming time.
The last set back
The company failed to impress the investors in the second quarter. The revenue was below the expectations of the company as well as the analysts. FuelCell Energy Inc (NASDAQ:FCEL) is looking to compensate the loss of the last quarter by eyeing for the new sales contracts. The new contracts will provide the company with the orders of 300 megawatts of power plants in Europe and the US. The aim is to eliminate the weakness of the last quarter. The company was unable to fetch the multi megawatt utility projects in the last quarter. Now, it doesn’t want to repeat the same mistake again.
The new orders
The new orders of 300 megawatts of power plants will positively affect the revenues. The new orders are of higher margin sales and service agreements. It will help to erase the negative impact of declined sales of the last quarter. Thus, FuelCell Energy Inc (NASDAQ:FCEL) will be in a better position to reach the breakeven point of the current financial year. As of now, the company has the order of 70 megawatts of fuel cell annually at the factory located in Torrington, Connecticut. It is putting in efforts to enhance the volume to increase to more than 80 megawatts so has to have a profitable net income for the year.
