FuelCell's stock drops toward a 13-month low after surprise decline in revenue, wider-than-expected loss

Shares of FuelCell Energy Inc. FCEL, -6.83% sank 5.1% toward 13-month debased successful premarket trading Wednesday, aft the substance compartment exertion institution reported a wider-than-expected fiscal fourth-quarter nonaccomplishment arsenic gross amazingly declined. The nett nonaccomplishment for the 4th to Oct. 31 was $24.98 million, oregon 7 cents a share, aft a nonaccomplishment of $19.66 million, oregon 8 cents a share, successful the year-ago period. The fig of shares outstanding accrued to a weighted mean of 366.67 cardinal from 236.38 million. The FactSet statement for per-share losses was 3 cents. Total gross dropped 18.0% to $13.94 million, portion the FactSet statement called for 28% summation to $21.77 million. The diminution successful gross was driven by a $5.6 million, oregon 102% decline, successful work agreements and licence gross to antagonistic $0.1 million, portion the FactSet statement was for a 22% summation to $6.6 million. The institution said the backlog was mostly unchanged. "Looking forward, we are focused connected executing against our existing task backlog, portion simultaneously expanding our annualized accumulation rate, repositioning our marque for the aboriginal and gathering the adjacent procreation income structure," said Chief Executive Jason Few. The banal has tumbled 47.5% this year, portion the S&P 500 SPX, -0.10% has climbed 27.4%.