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Plug Power Inc. (PLUG) saw its loss narrow to $19.24 million, or $0.11 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $25.23 million, or $0.14 a share. Revenue during the quarter dropped 15.23 percent to $32.58 million from $38.43 million in the previous year period. Gross margin for the quarter period stood at positive 9.24 percent as compared to a negative 24.50 percent for the previous year period. Operating margin for the quarter stood at negative 36.64 percent as compared to a negative 62.76 percent for the previous year period.
Operating loss for the quarter was $11.94 million, compared with an operating loss of $24.12 million in the previous year period.
"Our fourth quarter operating results underscore significant progress during the year, highlighted by new and repeat customer wins, record deployments, and continued progress driving margin expansion across our GenKey suite of products," stated said Andy Marsh, chief executive officer of Plug Power. "We have clearly cemented ourselves as the leader in hydrogen fuel cell technology within the material handling space, enabling us to accelerate market share growth."
Plug Power expects revenue to be $130 million for fiscal year 2017.
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