Fuel-cell Commercialization Pushed Ballard Into Red

Ballar loses C$5.7 million in quarter ending September 30.

Published: 31-Oct-2000

TORONTO, Oct 31 (Reuters) - Ballard Power Systems Inc. said on Tuesday that the continuation of field trials for its fuel cells, offset by a cost reduction programme, resulted in a smaller loss for its third quarter.

Ballard said it lost C$5.7 million or 6 Canadian cents a share in the quarter ended September 30 compared with losses of C$22 million or 26 Canadian cents a share in the year earlier period.

Revenues in the period rose to C$26.8 million compared with a year-earlier C$11.9 million, with C$13.2 million derived from investment income.

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