EXHIBIT
99.2
FOR IMMEDIATE RELEASE
Capstone Turbine Announces Preliminary Third Quarter Fiscal 2007 Operating Results
CHATSWORTH, Calif.(BUSINESS WIRE) Jan 19, 2007 Capstone Turbine Corporation,
(www.microturbine.com; Nasdaq: CPST), today reported that it expects its fiscal third quarter 2007
revenue to exceed analysts consensus. The company said it expects revenue for the quarter of
approximately $5.7 million, exceeding analysts consensus estimate of $3.6 million. This estimate
reflects an increase of approximately 97% over the revenue recorded for the previous quarter ended
September 30, 2006 of $2.9 million.
The company also expects its cash and cash equivalents balance to decrease by approximately $13.9
million to $25.5 million as of December 31, 2006, from the
$39.4 million balance at September 30, 2006. The decrease in
cash and cash equivalents reflects the timing of cash receipts on the increased revenue for the
quarter and payments of the companys short-term liabilities. However, upon successful closing of
the equity offering also announced today, the company expects a cash and cash equivalents balance
of approximately $68.0 million.
In
addition, the company expects its backlog to improve to
$8.1 million, or an increase of 19%, from the $6.8 million as of September 30, 2006.
We are pleased to report that our third quarter revenue of approximately $5.7 will
substantially exceed analysts expectations and almost double the $2.9 million in revenue reported
for the second quarter, said Darren Jamison, President and CEO of Capstone Turbine Corporation.
The third-quarter revenue reflects significant increases in product sales in the North
American, European and Russian markets,
added Jamison.
The information set forth above is estimated and is subject to change. The company is
currently finalizing its financial statements for the third quarter ended December 31, 2006.
Complete results for that quarter will be announced at the close of the market on Friday, February
9, 2007. The company also will hold a live conference call and
webcast to discuss its financial
results. Any investor or interested individual can listen to the
webcast, which is scheduled to begin at 1:45 p.m. PST (4:45 p.m. EST) on February 9, 2007, by
logging on the companys investor relations webpage at www.microturbine.com. A replay of the
webcast will be available on the site for 90 days.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com; Nasdaq: CPST) is the worlds leading producer
of low-emission microturbine systems, and was the first to market commercially viable microturbine
energy products. Capstone Turbine has shipped thousands of Capstone MicroTurbine systems to
customers worldwide. These award-winning systems have logged millions of documented runtime
operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agencys
Combined Heat and Power Partnership, which is committed to improving the efficiency of the nations
energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO
9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales
and/or service centers in New York, Mexico City, Milan, Nottingham, Shanghai and Tokyo.
Capstone Turbine Corporation and Capstone MicroTurbine are registered trademarks of Capstone
Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains forward-looking statements, as that term is used in the federal
securities laws, with regard to its financial results for the third quarter ended December 31,
2006. Forward-looking statements may be identified by words such as expects, objective,
intend, targeted, plan and similar phrases. These forward-looking statements are subject to
numerous assumptions, risks and uncertainties. Actual results could vary significantly based on a
variety of factors, including factors described in Capstones filings with the Securities and
Exchange Commission, which may cause Capstones actual results to be materially different from any
future results expressed or implied in such statements. Capstone cautions readers not to place
undue reliance on these forward-looking statements, which speak only as of the date of this
release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release
any revisions to any forward-looking statements to reflect events or circumstances after the date
of this release or to reflect the occurrence of unanticipated events.
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Source:
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Capstone Turbine Corporation |
Contact:
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Capstone Turbine Corporation |
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Alice Barsoomian, 818-407-3628 |