{"id":16998,"date":"2014-03-11T08:46:13","date_gmt":"2014-03-11T12:46:13","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=16998"},"modified":"2014-03-11T08:18:53","modified_gmt":"2014-03-11T12:18:53","slug":"hydrogenics-corporation-usa-nasdaqhygs-fourth-quarter-and-full-year-loss-narrows","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/hydrogenics-corporation-usa-nasdaqhygs-fourth-quarter-and-full-year-loss-narrows-16998","title":{"rendered":"Hydrogenics Corporation (USA) (NASDAQ:HYGS) Fourth Quarter And Full Year Loss Narrows"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 03\/11\/2014 (wallstreetpr) &#8211; <b>Hydrogenics Corporation (USA) (NASDAQ:HYGS)<\/b> has reported its fourth quarter and full year results for the period ending December 2013 that saw its net loss for the quarter narrow to lows of $3.10 million against highs of $3.39 million reported for the same quarter a year earlier.<\/p>\n<p style=\"text-align: justify;\">The company was able to record revenue for the full year which came in at $42.4 million with a backlog of $57 million and cash amounting to $13.8 million<\/p>\n<p style=\"text-align: justify;\"><b>Fourth quarter Financials<\/b><\/p>\n<p style=\"text-align: justify;\">The fourth quarter saw Hydrogenics revenue surge by 12% coming in at $11 million, mainly as a result of increased sales for the company\u2019s power systems base units. Gross profit was also on an increase coming in at $2.7 million up by 11.1% representing 24.6% of the total revenue.<\/p>\n<p style=\"text-align: justify;\">Hydrogenics Corporation (USA) (NASDAQ:HYGS) cash operating costs for the quarter dropped by 20% coming in at $2.9 million mainly as a result of an increase in R&amp;D funding in the quarter. Hydrogenics Adjusted EBITDA loss for the quarter improved by 93% coming in at $0.2 million attributed to improved levels of profitability.<\/p>\n<p style=\"text-align: justify;\">Net loss for the quarter came in at $3.1 million down by $0.3 million compared to the same quarter a year ago with the company having secured $14.3 million worth of orders for renewable energy storage.<\/p>\n<p style=\"text-align: justify;\"><b>Full year Financials<\/b><\/p>\n<p style=\"text-align: justify;\">Full year saw the company total revenue clock in at $42.4 million an increase of 34% compared to 2012\u2019s total revenues of $10.7 million. Gross profit for the year also increased by $6.8 million to a high of $12.1 million representing 28.4% of the total revenues, this was mainly as a result of improved margins in the OnSite business unit<\/p>\n<p style=\"text-align: justify;\">Cash operating costs for the full year came in at $13.5 million against highs of$15.3 million reported in 2012. Hydrogenics adjusted EBITDA loss dropped to lows of $1.2 million against highs of $10.1 million reported in F2012. Net loss for full year dropped by 30% to $8.9 million from $12.8 million in F2012.<\/p>\n<p style=\"text-align: justify;\">Hydrogenics Corporation (USA) (NASDAQ:HYGS) was up by 15.46% in Monday trading session closing the day at $33.46.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 03\/11\/2014 (wallstreetpr) &#8211; Hydrogenics Corporation (USA) (NASDAQ:HYGS) has reported its fourth quarter and full year results for the period ending December 2013 that [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":17013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[2386,2345],"stock_ticker":[],"class_list":["post-16998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-hydrogenics-corporation-usa-nasdaqhygs","tag-nasdaqhygs","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hydrogenics Corporation (USA) (NASDAQ:HYGS) Fourth Quarter And Full Year Loss Narrows - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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