U.S. Markets closed

Ballard reports 4Q loss

BURNABY, British Columbia (AP) _ Ballard Power Systems Inc. (BLDP) on Wednesday reported a loss of $1.1 million in its fourth quarter.

On a per-share basis, the Burnaby, British Columbia-based company said it had a loss of 1 cent.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.

The fuel cell technology company posted revenue of $30.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $27.1 million.

For the year, the company reported that its loss widened to $21.1 million, or 13 cents per share. Revenue was reported as $85.3 million.

In the final minutes of trading on Wednesday, the company's shares hit $2. A year ago, they were trading at $1.41.

_____

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

_____

Keywords: Ballard Power Systems, Earnings Report