Ballard Raises Revenue and Reduces Loss
Gross margin was 42 percent in Q1, an improvement of 22-points primarily due to a shift in product mix toward higher margin Technology Solutions and Heavy Duty Motive for the China market, including the ongoing establishment of a production line in Yunfu, China for the manufacture and assembly fuel cell stacks. Adjusted Ebitda was ($0.7) million in Q1, an improvement of $6.6 million or 91 percent. Net income was ($2.9) million in the quarter, an improvement of $7.1 million or 71 percent.
Source: IWR Online, 03 May 2017