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**Plug Power loses $12M in third quarter**
Publication date: 28-April-2004 Source:Business Review
Plug Power Inc. (Nasdaq: PLUG) of Latham reported a net loss of $12 million, or 16 cents a diluted share, for the first quarter ended March 31, down from a net loss of 13.8 million, or 27 cents a diluted share, for the same period last year. The fuel-cell maker also reported an increase in revenues with $3.3 million, up from $3 million the year before. The 2003 net loss included $3 million related to the acquisition of H Power of Belleville, N.J. The company announced that it had completed distribution agreements with three international companies that provide equipment and services to the power industry: Hidrener Hydrogen Energy Systems Inc. of Turkey; siGEN Ltd. of Aberdeen Scotland; and IST Group Ltd. of South Africa. Other highlights for the quarter include the shipment of 20 GenCore systems to customers in the United States, Europe, Asia and South Africa. Also, the company announced the second phase of a home energy station project with Honda R&D of Japan. The station will be a home-based unit that will power homes and vehicles. ~


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