That's wrong. The technology is far too expensive due to the cost of hydrogen and current US demand is mainly artificial because of tax incentives running out in 2016. Without huge subsidies there's no chance for fuel cells to replace meaningful parts of the lead-acid powered fork lift fleets. There have been huge reliability problems by PLUG powered devices also. Downtime of their fuel cell forklift trucks due to repairs is a multiple of lead-acid powered forklifts.
As PLUG is in fact guiding for a record revenue quarter, revenues will have to be at least $21.5 mln so my early guess of between $15-20 mln looks clearly wrong. But again, if they had numbers above analyst estimates and progress in bookings and margins they would have put this in the press release. Still believe that revenues will come in substantially below analyst estimates and bookings and margins to disappoint.
Perhaps management should care for their business instead of going on bus tours.
No, but how many of the now shipped units will be recognized in Q2 ? You need to ask yourself why they don't give out the revenues and bookings numbers despite already knowing them.
No statements on product or service gross margins either - would strongly expect very poor revenues, margins and bookings for Q2. Analysts will scratch their heads about the company maintaining guidance at this time.
From Q4/FY14 report:
"The Company shipped 957 GenDrive units and had GenFuel installation sales associated with eight sites during the fourth quarter of 2014 compared to 279 GenDrive units and no GenFuel installation sales in the fourth quarter of 2013. Total revenue for the fourth quarter of 2014 was $21.5 million, comprised of $12.2 million for product revenue, $8.4 million for service revenue and $0.9 million for research and development (R&D) contract revenue."
So this time they shipped less units and I don't see 8.4 mln dollar in service revenue either. Add the revenue recognition issues and Q2 revenues might come in between $15-20 mln compared to analyst expectations of $25 mln.
Well, no information about revenue recognition from the units shipped and no information about bookings. Would expect revenues to be again a fraction of analyst estimates.
Well - in fact it was RGSE that violated the rules obviously. New SEC subpoena just disclosed.
I guess the debtholders are far better off with the shares now that they can sell into the market instead of getting nothing in bankruptcy. And that was the main reason behind the exchange.
The timing of the offering is actually screaming out loudly "WE HAD ANOTHER ABYSMAL QUARTER". Would short with no fear here going into Q2 earnings.
Well, actually they employed a pump-and-dump scheme for the offering which for itself is pretty telling about the company and its management. Even more telling is the timing of the offering. Not only that they obviously burned through ALL of the cash taken in from option exercises during the quarter they also clearly had another abysmal quarter. Otherwise they would have just reported preliminary numbers before the offering announcement to show some progress.
Well. It has already given back the whole gain from yesterday... I am spot on once again.
Really? I fully expect shares to end up being worthless and are willing to stay short until the pre-packaged Tengram deal is announced.
They aren't debt free. There's still a fully drawn bank credit line outstanding. And obviously they burned through another $5 mln in cash AND had another abysmal quarter - otherwise they would have pre-announced good or at least in line preliminary numbers before the offering to attract buyers. Sell.
Well - they wouldn't have offered the shares just before quarter end if they had anything great in the cards from an earnings perspective. Obviously they even burned through the $4 million from warrant exercises.
Another abysmal quarter is clearly in the cards here. Would short the shares.