BURNABY, British Columbia (AP) — BURNABY, British Columbia (AP) — Ballard Power Systems Inc. (BLDP) on Thursday reported a loss of $46.5 million in its fourth quarter.
On a per-share basis, the Burnaby, British Columbia-based company said it had a loss of 16 cents. Losses, adjusted for asset impairment costs, were 14 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The fuel cell technology company posted revenue of $24.5 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $26.4 million.
For the year, the company reported that its loss widened to $324.2 million, or $1.08 per share. Revenue was reported as $69.7 million.
The company's shares closed at $1.25. A year ago, they were trading at $2.88.
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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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