conversion at almost double the October price - still $126.7 mln remaining but given the favorable conditions this should be no problem at all anymore
Yes - and there are another $210 mln in debt maturities which come up in 2015 so in fact they will have to raise $665 mln in 2015 and there's no chance to get even a fraction of that
Clearly this was just another bad report but the gross margin did improve to 10.9% qoq - no one should pay attention to your annual number. Investors should care for the current state of the business which is as murky as it has always been with decreasing backlog and huge cash burn rates.
But the gross margin is indeed slightly improved from last quarter and vastly improved yoy. It doesn't change anything but freaks like you should get banned here.
I don't think the company call was great - analysts were seemingly disappointed about the cash flow guidance for FY15 and much higher capex plans. Add some severe forex headwinds and the lower than expected outlook for Q1 and FY15 and you have all ingredients for a double digit decline in place tomorrow
Why - the company has sunk billions of dollars into their products just to arrive at a measly 11% gross margin after more than 15 years of product marketing. Their technology does fit into some niche markets but really won't take the future by storm.
1. They didn't sell anything during the quarter as backlog is down substantially
2. Their cash position is down by $25 mln qoq
3. What about EBITDA break-even by Q4FY14 ?
4. They are planning for huge capex increases to expand manufacturing despite not having the orders
yeah - it has actually improved from $133 mln in Q3 to $108 mln in Q4
Even FCEL investors can't be that dumb really. The yoy cash position improvement is due to the company selling millions of shares to new investors during that time frame
I would strongly advice to short any after hours move here as the results are once again pretty ugly.
Investors might get fooled by the revenue performance and the improved gross margins but this was very much expected following several quarters of severe misses on all key metrics.
But the company burned a breathtaking $25 mln in cash during the quarter (almost double the amount of Q3) and sold virtually NOTHING as product backlog is down significantly and even the service backlog is down quarter over quarter.
will buy if this moves lower tomorrow
the shares are worthless without the Rosneft contract - the company needs $500 mln within a few months or will have to file for CH11
not sure what you are talking about - NADL needs to raise $500 mln in 2015 to serve upcoming debt maturities and pay for their newbuild semisub and they won't be able to borrow a single cent at current market conditions.
You are not really talking about the tiny Relion-Telco contract already announced on the last conference call ?
I heavily suggested shorting the shares on the day Andy recycled that old news again. Down $1.20 since then.
NADL is doomed with 80% of their fleet projected to sit idle nine months from now. At the same time the company needs to raise around $500 mln in short term financing in 2015.
Repsol already denied any talks this morning - guess they decided to bid for some assets in bankruptcy rather than acquiring tons of debt at a premium now.
no chance - they will first have to deal with their near term debt maturities to avoid bankruptcy