BURNABY, British Columbia (AP) — BURNABY, British Columbia (AP) — Ballard Power Systems Inc. (BLDP) on Thursday reported a loss of $17.5 million in its fourth quarter.
The Burnaby, British Columbia-based company said it had a loss of 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The fuel cell technology company posted revenue of $33.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $29.8 million.
For the year, the company reported that its loss narrowed to $90.9 million, or 30 cents per share. Revenue was reported as $99.4 million.
The company’s shares closed at $2.15. A year ago, they were trading at $1.20.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLDP at https://www.zacks.com/ap/BLDP
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