Hydrogenics reports second quarter 2008 results
Highlights include:
- Revenues up 23% and 63% for the second quarter and year to date respectively, excluding Test Systems business unit.
- Further progress using Hydrogen for renewable energy storage was demonstrated with two significant orders.
- OnSite Generation business increases profitability in the second quarter of 2008.
- Improved year to date gross profit and lower cash operating costs produce a 36% reduction in year over year loss from operations.
- Cash and cash equivalents, restricted cash and short-term investments were $29.8 million as at June 30, 2008, a decrease of $0.7 million from December 31, 2007.
Source: Fuel Cell Today
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