Capstone Turbine Corporation Addresses Statements Made in Interview with Bloomberg Reporter
2008-07-24 18:52:00
Capstone Turbine Corporation Addresses Statements Made in Interview with Bloomberg Reporter
CHATSWORTH, Calif.–(EMWNews)–Capstone Turbine Corporation (www.microturbine.com)
(NASDAQ:CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, today addressed items contained in a
Bloomberg news article resulting from an interview with Darren R.
Jamison, the Company’s President and Chief
Executive Officer.
The Bloomberg article, published on July 21, 2008, quotes Mr. Jamison as
saying that sales estimates in the mid-$50 million range for the fiscal
year ending March 31, 2009 “are very
obtainable and reasonable.” The article also
quotes Mr. Jamison as stating that the fiscal year ending March 31, 2012 “is
a reasonable date” for the Company to achieve
an annual profit. Mr. Jamison’s comments were
in response to questions about an analyst’s
specific financial model indicating a revenue target in the mid-$50
million range for the year ended March 31, 2009 and profitability in
2012. The comments were not intended to represent management’s
financial projections or outlook in general.
The Company does not publicly disclose its internal financial
projections. As stated in its Annual Report on Form 10-K for the year
ended March 31, 2008, the Company has established a goal to achieve cash
flow positive when it ships approximately 250 units in a quarter,
depending on the product mix. Although there can be no assurance,
Capstone management believes that the Company will be profitable before
2012.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com)
(NASDAQ:CPST) is the world’s leading producer of low-emission
microturbine systems, and was the first to market commercially viable
microturbine energy products. Capstone Turbine has shipped over 4,000
Capstone MicroTurbine(R) systems to customers worldwide. These
award-winning systems have logged millions of documented runtime
operating hours. Capstone Turbine is a member of the U.S. Environmental
Protection Agency’s Combined Heat and Power Partnership, which is
committed to improving the efficiency of the nation’s energy
infrastructure and reducing emissions of pollutants and greenhouse
gases. A UL-Certified ISO 9001:2000 and ISO 14001:2004 certified
company, Capstone Turbine is headquartered in the Los Angeles area with
sales and/or service centers in New Jersey, New York, Mexico City,
Milan, Bath, Shanghai and Tokyo.
Capstone Turbine Corporation and Capstone MicroTurbine are registered
trademarks of Capstone Turbine Corporation. All other trademarks
mentioned are the property of their respective owners.
This press release contains “forward-looking statements,” as that term
is used in the federal securities laws, about sales estimates for fiscal
2009 and the Company’s profitability goals.
Forward-looking statements may be identified by words such as “expects,”
“objective,” “intend,” “targeted,” “plan” and similar phrases. These
forward-looking statements are subject to numerous assumptions, risks
and uncertainties described in Capstone’s filings with the Securities
and Exchange Commission that may cause Capstone’s actual results to be
materially different from any future results expressed or implied in
such statements. Capstone cautions readers not to place undue reliance
on these forward-looking statements, which speak only as of the date of
this release. Capstone undertakes no obligation, and specifically
disclaims any obligation, to release any revisions to any
forward-looking statements to reflect events or circumstances after the
date of this release or to reflect the occurrence of unanticipated
events.
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