RunJJ, here are a few of my observations from their press release.
First, they expect the total number of units to be deployed in the field by the end of the year to be 4,000. So far, they have 2,200 deployed - 1,900 prior to this year and 300 in the first quarter of this year. So, to hit the 4,000 units, they are going to need to deploy 600 units per quarter. So, if your $8.2MM number turns out to be accurate, that would represent about 350 units at their current selling price of $24.4K. So, they would have to ship 725 units in each of the last two quarters. Revenue, using their current unit selling price of $24.4K would be $17.7MM in each of the last two quarters. I know that others will point out that Plug has rarely made their numbers, but I had hoped that Plug would learn its lesson and put out reasonable numbers in the future that they can meet. Net/net, I think that their next quarter is going to have to be a lot bigger than $8.2MM or they don't have a chance of making the 4,000 "units deployed" number by the end of the year. If they miss the 4,000 units, then their credibility takes another "broadside".
Second, and I don't understand why they did this, they disclosed that Mercedes had ordered 170 units at a price of $15,000 per unit. I hope that this is some type of "special unit" as their average sell price per unit for the past several quarters has been around $24.4K. By disclosing the price that Mercedes is paying, I'm not sure why any future or existing customer would pay more for a similar unit. I did not listen to the conference call, so I'm not sure if Plug talked about some new lower cost unit they are deploying to increase their market share gains. Given where they are on the costs to build these units (negative margins), a lower selling price without a significant drop in the costs to manufacture, only makes the margin situation worse.
For full disclosure, I do not own Plug stock. I like the story and they seem to have found a market where they can deliver value based on performance with a subsidized price (by tax breaks), but the question is when can they stop the cash flow bleed. I want to see them achieve the milestones they predict, which will give them credibility about future performance, before I invest. This may be a watershed quarter for me based on their results.
You calling me an IDIOT, that is laughable. You have been pumping PLUG for years and here it sits just pennies from all time lows. You have never changed you sentiment in all those years from anything other than "strong buy". YOU are the idiot. Sheet for brains!
Really? Another quarter of negative gross margins? THAT makes you happy?
From a company that has promised to be profitable in 2012?
Wow! PLUG sees new all time lows. More dilution within a year and another reverse split within two!
Speaking of English language, is it Brion or Brian? lol
Call it bashing if you may but QTWW is looking to dilute yet again! A reverse split will not be long behind.