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Recent Developments: On Oct 05, 2009: Capstone Turbine Corporation announced it received follow on orders from two oil and gas customers. The total value of the two follow on orders is approximately $3.0 million for forty-two C30s, one C600 and one C1000. On Sept 23, 2009: Capstone Turbine Corporation has named Al-Nasr International LLC its distributor in the United Arab Emirates. On Sept 21, 2009: Capstone Turbine Corporation announced that it has received an order for two C800 microturbine systems for a new 10 story building in Bogota, Colombia. The total order value is approximately $1.5 million and is the first sale of Capstone C800 microturbines in Colombia and the second recent order in South America after last month's announcement of three C800 microturbines to a large waste water treatment plant in Brazil. On Aug 26, 2009: Capstone Turbine Corporation announced that it named Industrias Energeticas as Capstone's newest distributor in Mexico and subsequently received an order for four C30 C1D2 microturbine systems for offshore oil platforms in the Gulf of Mexico. The total order exceeds $500,000 and is the latest in a series of orders for the low-emission Capstone product that is specially designed for hazardous Class 1, Division 2 environments. Company Analysis Excluding the charge, Capstone delivered strong results for the quarter, and it marks the start of what could be a historic year for the clean energy corporation that has never earned a profit since it became a publicly listed company. Capstone is poised to achieve tremendous growth in future on the back of its strong order backlog. Capstone's backlog as of June 30, 2009 was $59.1 million, an increase of 38% from June 30, 2008 and a decrease of 4% from March 31, 2009. Company has recently received follow on orders from two oil and gas customers. The total value of the two follow on orders is approximately $3.0 million for forty-two C30s, one C600 and one C1000. Both of the orders are scheduled for shipment before the end of Capstone's year end on March 31, 2010. One order is from Aquatec- Maxcon Pty Ltd, Capstone's distributor for the Australian market. The order is for C30 microturbines that will be used in a large coal seam gas exploration and production project in Australia. The second order received was from Capstone's distributor, Pumps & Service, for one C1000 and one C600. This is a follow-on order to the first two C600's sold for use in the oil and gas industry in July 2009. Furthermore, the company will take action to achieve 30% cost reduction. All of this is obviously very exciting news for Capstone. Capstone is satisfying orders around the globe at the current time and as the company gears towards profitability, investors should become more comfortable with holding the stock for the long term. The future prospects of this company are strong as the company continues to grow and expand globally. As for now, we recommend our BUY rating on the stock.PDF Image | Sector: Industrial Goods
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