2012 Q3 Form 10-Q Financial Statement

#000088612812000004 Filed on September 07, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $29.69M $31.16M
YoY Change -4.71% 65.13%
Cost Of Revenue $32.43M $31.02M
YoY Change 4.54% 37.09%
Gross Profit -$2.738M $137.0K
YoY Change -2098.54% -103.64%
Gross Profit Margin -9.22% 0.44%
Selling, General & Admin $4.580M $3.578M
YoY Change 28.0% -14.61%
% of Gross Profit 2611.68%
Research & Development $3.193M $3.918M
YoY Change -18.5% -15.19%
% of Gross Profit 2859.85%
Depreciation & Amortization $1.320M $1.620M
YoY Change -18.52% -10.5%
% of Gross Profit 1182.48%
Operating Expenses $7.773M $7.496M
YoY Change 3.7% -14.82%
Operating Profit -$10.51M -$7.359M
YoY Change 42.83% -41.41%
Interest Expense $544.0K $847.0K
YoY Change -35.77% -269.4%
% of Operating Profit
Other Income/Expense, Net $656.0K $470.0K
YoY Change 39.57%
Pretax Income -$10.02M -$7.830M
YoY Change 27.96% -40.05%
Income Tax -$9.000K $0.00
% Of Pretax Income
Net Earnings -$9.922M -$7.754M
YoY Change 27.96% -40.49%
Net Earnings / Revenue -33.42% -24.88%
Basic Earnings Per Share -$0.06 -$0.07
Diluted Earnings Per Share -$0.06 -$0.07
COMMON SHARES
Basic Shares Outstanding 185.9M shares 126.9M shares
Diluted Shares Outstanding 185.9M shares 126.9M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $73.80M $49.50M
YoY Change 49.09% -6.07%
Cash & Equivalents $62.46M $31.48M
Short-Term Investments $0.00 $18.00M
Other Short-Term Assets $6.084M $7.000M
YoY Change -13.09% 48.94%
Inventory $49.00M $38.70M
Prepaid Expenses
Receivables $20.24M $16.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $149.1M $112.0M
YoY Change 33.11% 9.91%
LONG-TERM ASSETS
Property, Plant & Equipment $22.45M $23.30M
YoY Change -3.65% -19.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.800M $10.30M
YoY Change -4.85% -59.13%
Other Assets $15.67M $11.30M
YoY Change 38.69% 769.23%
Total Long-Term Assets $47.95M $44.90M
YoY Change 6.79% -18.81%
TOTAL ASSETS
Total Short-Term Assets $149.1M $112.0M
Total Long-Term Assets $47.95M $44.90M
Total Assets $197.0M $156.9M
YoY Change 25.58% -0.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.87M $15.90M
YoY Change -31.63% 74.73%
Accrued Expenses $20.45M $25.40M
YoY Change -19.47% 62.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.200M $10.60M
YoY Change -41.51% 960.0%
Total Short-Term Liabilities $88.23M $89.50M
YoY Change -1.42% 85.3%
LONG-TERM LIABILITIES
Long-Term Debt $4.028M $17.70M
YoY Change -77.24% 331.71%
Other Long-Term Liabilities $6.300M $7.300M
YoY Change -13.7% -70.45%
Total Long-Term Liabilities $4.028M $25.00M
YoY Change -83.89% -13.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $88.23M $89.50M
Total Long-Term Liabilities $4.028M $25.00M
Total Liabilities $111.4M $113.6M
YoY Change -1.94% 47.72%
SHAREHOLDERS EQUITY
Retained Earnings -$725.5M
YoY Change
Common Stock $751.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) -$53.00K
YoY Change
Treasury Stock Shares 5.679K shares
Shareholders Equity $25.98M $43.30M
YoY Change
Total Liabilities & Shareholders Equity $197.0M $156.9M
YoY Change 25.58% -0.19%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income -$9.922M -$7.754M
YoY Change 27.96% -40.49%
Depreciation, Depletion And Amortization $1.320M $1.620M
YoY Change -18.52% -10.5%
Cash From Operating Activities -$15.16M $820.0K
YoY Change -1948.78% -112.42%
INVESTING ACTIVITIES
Capital Expenditures -$970.0K -$480.0K
YoY Change 102.08% 50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$600.0K
YoY Change -100.0% -98.15%
Cash From Investing Activities -$970.0K -$1.070M
YoY Change -9.35% -96.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.69M -5.250M
YoY Change -665.52% -116.91%
NET CHANGE
Cash From Operating Activities -15.16M 820.0K
Cash From Investing Activities -970.0K -1.070M
Cash From Financing Activities 29.69M -5.250M
Net Change In Cash 13.56M -5.500M
YoY Change -346.55% -34.37%
FREE CASH FLOW
Cash From Operating Activities -$15.16M $820.0K
Capital Expenditures -$970.0K -$480.0K
Free Cash Flow -$14.19M $1.300M
YoY Change -1191.54% -120.7%

Facts In Submission

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us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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fcel Accretion Of Redeemable Preferred Stock Of Subsidiary
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fcel Accretion Of Redeemable Preferred Stock Of Subsidiary
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CY2012Q3 fcel Accumulated Depreciation On Long Term Stacks
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6900000 USD
CY2011Q4 fcel Accumulated Depreciation On Long Term Stacks
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2400000 USD
fcel Adjustment For Modification Of Redeemable Preferred Stock Of Subsidiary
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0 USD
fcel Adjustment For Modification Of Redeemable Preferred Stock Of Subsidiary
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CY2012Q3 fcel Adjustment For Modification Of Redeemable Preferred Stock Of Subsidiary
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CY2011Q3 fcel Adjustment For Modification Of Redeemable Preferred Stock Of Subsidiary
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fcel Amortization Of Bond Premium
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fcel Amortization Of Bond Premium
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CY2011Q4 fcel Carrying Value Of Series1 Preferred Shares
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CY2012Q3 fcel Carrying Value Of Series1 Preferred Shares
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CY2011Q4 fcel Carrying Value Of Series1 Preferred Shares
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16700000 USD
CY2012Q3 fcel Carrying Value Of Series1 Preferred Shares
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CY2011Q4 fcel Commercial Customers Accounts Receivable
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20886000 USD
CY2012Q3 fcel Commercial Customers Accounts Receivable
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fcel Common Stock Issued For Employee Stock Purchase Plan In Settlement Of Prior Year Accrued Employee Contributions
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fcel Common Stock Issued For Employee Stock Purchase Plan In Settlement Of Prior Year Accrued Employee Contributions
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125000 USD
fcel Common Stock Issued In Settlement Of Prior Year Bonus Obligation
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fcel Common Stock Issued In Settlement Of Prior Year Bonus Obligation
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550000 USD
CY2012Q3 fcel Common Stock Ownership Percentage
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CY2012Q3 fcel Completed Standard Component
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fcel Convertible Loan To Affiliate
ConvertibleLoanToAffiliate
0 USD
fcel Convertible Loan To Affiliate
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600000 USD
fcel Costs For Repair And Upgrades
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3600000 USD
CY2012Q2 fcel Date Payment Received From Sale Of Stock
DatePaymentReceivedFromSaleOfStock
2012-05-02
fcel Income Loss Before Redeemable Preferred Stock Of Subsidiary
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fcel Income Loss Before Redeemable Preferred Stock Of Subsidiary
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CY2012Q3 fcel Letters Of Credit Expiration Date
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2017-04-01
CY2012Q3 fcel License Fee And Royalty Income
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CY2011Q3 fcel License Fee And Royalty Income
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499000 USD
fcel License Fee And Royalty Income
LicenseFeeAndRoyaltyIncome
1287000 USD
fcel License Fee And Royalty Income
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1258000 USD
CY2012Q3 fcel Long Term Preferred Stock Obligation Of Subsidiary
LongTermPreferredStockObligationOfSubsidiary
12893000 USD
CY2011Q4 fcel Long Term Preferred Stock Obligation Of Subsidiary
LongTermPreferredStockObligationOfSubsidiary
12878000 USD
CY2011Q4 fcel Long Term Stack Residual Value
LongTermStackResidualValue
15092000 USD
CY2012Q3 fcel Long Term Stack Residual Value
LongTermStackResidualValue
14530000 USD
CY2011Q4 fcel Loss Reserve On Service Agreements
LossReserveOnServiceAgreements
8900000 USD
CY2012Q3 fcel Loss Reserve On Service Agreements
LossReserveOnServiceAgreements
6900000 USD
CY2012Q1 fcel New Common Stock Issuance
NewCommonStockIssuance
23000000 shares
CY2012Q2 fcel New Common Stock Issuance
NewCommonStockIssuance
20000000 shares
fcel Payment Of Preferred Dividends And Return Of Capital
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6506000 USD
fcel Payment Of Preferred Dividends And Return Of Capital
PaymentOfPreferredDividendsAndReturnOfCapital
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CY2011Q4 fcel Preferred Stock Obligation Of Subsidiary
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CY2012Q3 fcel Preferred Stock Obligation Of Subsidiary
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CY2012Q2 fcel Proceeds Received For New Common Stock Issuance
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CY2012Q1 fcel Proceeds Received For New Common Stock Issuance
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32000000 USD
CY2012Q3 fcel Quarterly Scheduled Dividend Payments
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300000 CAD
CY2012Q3 fcel Redeemable Preferred Stock Liquidation Preference
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64020000 USD
CY2011Q4 fcel Redeemable Preferred Stock Liquidation Preference
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64020000 USD
CY2011Q4 fcel Reserve For Long Term Service Agreement
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11096000 USD
CY2012Q3 fcel Reserve For Long Term Service Agreement
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9429000 USD
CY2011Q4 fcel Reserve For Performance Guarantees
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2200000 USD
CY2012Q3 fcel Reserve For Performance Guarantees
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2500000 USD
CY2011Q4 fcel Reserve For Repair And Upgrade Program
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7949000 USD
CY2012Q3 fcel Reserve For Repair And Upgrade Program
ReserveForRepairAndUpgradeProgram
4365000 USD
CY2012Q3 fcel Restricted Stock Awards Outstanding
RestrictedStockAwardsOutstanding
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fcel Return Of Capital And Dividend Payments On Series1 Preferred Shares
ReturnOfCapitalAndDividendPaymentsOnSeries1PreferredShares
4100000 CAD
fcel Return Of Capital And Dividend Payments On Series1 Preferred Shares
ReturnOfCapitalAndDividendPaymentsOnSeries1PreferredShares
4100000 USD
CY2011Q3 fcel Significant Customer Revenue Percentage
SignificantCustomerRevenuePercentage
0.74
fcel Significant Customer Revenue Percentage
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0.78
fcel Significant Customer Revenue Percentage
SignificantCustomerRevenuePercentage
0.81
CY2012Q3 fcel Significant Customer Revenue Percentage
SignificantCustomerRevenuePercentage
0.82
fcel Treasury Notes Matured
TreasuryNotesMatured
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fcel Treasury Notes Matured
TreasuryNotesMatured
49000000 USD
fcel Treasury Notes Purchased
TreasuryNotesPurchased
0 USD
fcel Treasury Notes Purchased
TreasuryNotesPurchased
33019000 USD
CY2012Q3 fcel Us Government Accounts Receivable Total
UsGovernmentAccountsReceivableTotal
1513000 USD
CY2011Q4 fcel Us Government Accounts Receivable Total
UsGovernmentAccountsReceivableTotal
1064000 USD
CY2012Q3 fcel Weighted Average Shares Outstanding Basic And Diluted
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CY2011Q3 fcel Weighted Average Shares Outstanding Basic And Diluted
WeightedAverageSharesOutstandingBasicAndDiluted
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fcel Weighted Average Shares Outstanding Basic And Diluted
WeightedAverageSharesOutstandingBasicAndDiluted
158548998 shares
fcel Weighted Average Shares Outstanding Basic And Diluted
WeightedAverageSharesOutstandingBasicAndDiluted
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CY2012Q3 dei Amendment Flag
AmendmentFlag
false
CY2012Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--10-31
CY2012Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2012Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q3 dei Document Period End Date
DocumentPeriodEndDate
2012-07-31
CY2012Q3 dei Document Type
DocumentType
10-Q
CY2012Q3 dei Entity Central Index Key
EntityCentralIndexKey
0000886128
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
185870084 shares
CY2012Q3 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2012Q3 dei Entity Registrant Name
EntityRegistrantName
FUELCELL ENERGY INC

Files In Submission

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