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Hydrogenics Reports First Quarter 2019 Results

MISSISSAUGA, Ontario, Might 14, 2019 (GLOBE NEWSWIRE) – Hydrogenics Company (NASDAQ: HYGS; TSX: HYG) ("Hydrogenics" or "The Company"), a number one Developer power modules, at the moment reported first quarter 2019 monetary outcomes.

Current Highlights

“I'm pleased to report that we’ve been within the US. stated Daryl Wilson, President and Chief Government Officer. “Our partnership with this key business player globally continues to develop. On the similar time, we’ve just lately introduced an award for the new power plant in New Zealand. Halcyon's Possession – The Tuaropaki Trust and Obayashi Company Tendencies, we’ve a robust stability sheet, and our current demand for high-performance gasoline and cell-powered rail and bus sectors.

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    • tCompany revenue was $ 8.1 million for the first quarter of the yr.
    • Hydrogenics Secured $ 26.5 million for orders for renewable power storage, industrial fuel and power system purposes within the quarter, leading to an order backlog of the first quarter (in $ hundreds of thousands) ) was as follows: December 31, 2018
      backlog Orders
      Acquired [19659033] FX Orders
      Delivered /
      Income
      Acknowledged March 31, 2019
      backlog OnSite Era $ 20.6 $ $ 22.0 $ (0.1 ) $ 2.5 $ 40.0 Power Techniques [19659049] 112.1 four.5 (1.0 ) 5.6 110.0 Complete $ [19659049] 132.7 $ 26.5 $ (1.1 ) $ 8.1 $ 150.zero
      • Of the current backlog of $ 150.zero million, Hydrogenics expects to recognize approximately $ 57.6 million, as of March 31, 2019.
      • Gross profit was $ 3.9 million in income in 2019 compared to $ 3.2 million (39.7% of revenue) in Gross Profit and Gross Margin
      • Cash off costs1 increased $ zero.1 million to $ 5.zero million, up from $ zero.4 million, partially offset
      • Adjusted EBITDA2 loss improved $ 0.6 million to $ 1.zero million This enchancment reflects the higher Gross
      • The web loss for the quarter was $ 2.6 million, or $ (0.15) per share, versus $ 2.zero million, or $ (zero.13) per share, within the first quarter of 2018.

      Notes

      1. Money & Expenditures on the SG & A and R & D, Less Amortization and Depreciation, This can be a non-IFRS measure and different comparable measures.
      1. Adjusted EBITDA is defined as internet loss excluding stock-based compensation (both cash and cash equivalents). settled long run indemnity index; These things are thought-about by the Hydrogenics' ongoing operational outcomes. Adjusted EBITDA can also be a non-IFRS measure

      Conference Name Details
      Hydrogenics will hold a convention name at 1:00 p.m. EDT on Might 14, 2019 to assessment first quarter outcomes. (877) 307-1373 or, for worldwide callers, (678) 224-7873. A stay webcast of the call may also be obtainable on the corporate's web site, www.hydrogenics.com

      An archived copy of the conference name and obtainable on the corporate's website, www.hydrogenics .com, about six hours following the decision.

      About Hydrogenics
      Hydrogenics Corporation is a worldwide chief in engineering and constructing applied sciences. Headquartered in Mississauga, Ontario, Hydrogenics supplies hydrogen era; Hydrogenics has manufacturing websites in Germany, Belgium and Canada

      Forward-looking Statements
      of the US Personal Securities Litigation Reform Act of 1995; We’re wanting ahead to you and your business plan. ; lack of ability to deal with financial progress; our limited working history; incapability to implement our enterprise strategy; fluctuations in our Quarterly outcomes; failure to take care of our buyer base; foreign money fluctuations; failure to take care of satisfactory insurance coverage coverage; modifications in value of our goodwill; failure of a big market to develop our products; failure of hydrogen being available on an economical basis; modifications in government insurance policies and laws; failure to adjust to the requirements of the Code of Conduct; legal responsibility for environmental injury; failure to compete with different developers; failure to compete with traditional and various applied sciences; failure to develop partnerships with unique gear producers, governments, techniques; incapability to acquire materials and elements; failure to manage enlargement of our operations; failure to handle overseas gross sales and operations; failure to recruit, practice and retain key management personnel; lack of ability to integrate acquisitions; failure to develop sufficient manufacturing processes and capabilities; failure to complete the event of commercially viable merchandise; failure to supply cost-competitive products; failure or delay in subject testing of our merchandise; failure to supply freed from defects or errors; incapability to adapt to technological advances or new codes and standards; failure to guard our Mental property; our involvement in Mental property litigation; publicity to product legal responsibility claims; failure to satisfy rules on passive overseas investment corporations; actions of our vital and principal shareholders; dilution because of our widespread shares and most popular shares; lack of ability of US buyers to implement US civil legal responsibility judgments towards us; volatility of our widespread share worth; and dilution because of the exercise of choices. Readers shouldn’t place undue Reliance on Hydrogenics' forward-looking statements. Hydrogenics “Regulatory Filings with the Canadian Securities Regulatory Authority and the US Securities and Trade Commission Additionally, the forward-looking assertion of the date of the discharge, as well as the Hydrogenics Commitment to the Revolution, will probably be revealed. until in any other case required by regulation.

      Hydrogenics Contacts:

      Marc Beisheim, Chief Financial Officer
      Hydrogenics Corporation
      (905) 361-3660
      buyers @ hydrogenics .com

      Chris Witty
      Hydrogenics Investor Relations
      (646) 438-9385
      cwitty@darrowir.com

      Reconciliation of Money Operating Prices to Operating Prices and Adjusted EBITDA to Internet Loss
      (inaudited)