By Marc Silverstini
Danbury-based FuelCell, which employs about 220 workers at a manufacturing facility in Torrington reprted wider losses for both the fourth quarter and fiscal year, despite higher revenues for both periods. FuelCell reported a net loss of $24.3 million, or 35 cents per diluted share, for the quarter that ended Oct. 31, compared with a loss of $16.8 million, or 25 cents per diluted share, for the fourth quarter of 2007. For the year, it reported a net loss of $96.6 million or $1.41 per diluted share, compared with a net loss of $71.9 million or $1.16 per diluted share for fiscal 2007.
Revenues for the fourth quarter jumped 59 percent to $26.2 million, while revenues for the fiscal year improved by 109 percent to $100.7 million. For the year, the company doubled its revenues, tripled its production rate from 11 megawatts of power to 30 MW, and achieved its cost control goals, said R. Daniel Brdar, FuelCell's chariman and CEO.
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