09:45 AM EST - Ballard Power Systems Inc. : reported a wider loss for the fourth quarter, reflecting an investment loss and a loss on disposal and write down of long-lived assets. The Burnaby-based company's quarterly net loss widened to $18.03 million U.S. or $0.22 U.S. per share from $15.89 million U.S. or $0.14 U.S. per share in the earlier year. During the quarter, the company recorded an investment and other loss of $2.41 million U.S, compared to an income of $2.63 million U.S. a year ago. Also, Ballard posted a loss on disposal and writedown of long-lived assets of $2.79 million U.S., whereas no such items were reported in the prior-year quarter. On average, eight analysts polled by Thomson Reuters expected the company to report a loss of $0.15 U.S. per share for the quarter. Total revenues for the quarter declined six per cent to $18.9 million U.S. from $20.06 million U.S. in the prior year. Analysts anticipated revenues of $19.25 million U.S. for the period. On a pro-forma basis, adjusting for automotive engineering development, revenue increased 61 per cent. Ballard Power Systems Inc.
shares T.BLD are trading up $0.01 at $1.38.
