Loss from continuing operations was $56.8 million in 2007, compared to $57 million in 2006. This equates to a loss of $0.50 per share, same as in 2006. In the fourth quarter of 2007, loss from continuing operations increased 13% to $15.9 million, compared to $14.1 million for the same period in 2006.
Ballard noted that cash reserves were $145.6 million on December 31, 2007, compared to $161.4 million in the third quarter of 2007.
For the year ended December 31, 2007, product and service revenues increased by $6.8 million, or 19%, to $43.4 million and engineering development revenue increased by $8.9 million, or 67%, to $22.2 million, compared to 2006.
Ballard noted that, in fuel cell growth markets of materials handling, backup power and residential cogeneration, total shipments were 298 units in the fourth quarter of 2007, an increase of 96% from the same quarter in 2006. The full year total of 849 units shipped represents a growth of 84% over 2006, the company said.
