10-Q Filing

FUELCELL ENERGY INC CIK: 886128 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-110083`
Period End Date	20120131
Filing Date	20120312
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	fcel-20120131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 51 Cash Flow Statement 63

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, liquidation preference value	`RedeemablePreferredStockLiquidationPreference`	$64.02M	USD	Point-in-time
Preferred stock, liquidation preference value	`RedeemablePreferredStockLiquidationPreference`	$64.02M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.41M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.09M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.03M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	138.40M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	140.58M	shares	Point-in-time
Investments - U.S. treasury securities	`HeldToMaturitySecuritiesCurrent`	$4.50M	USD	Point-in-time
Investments - U.S. treasury securities	`HeldToMaturitySecuritiesCurrent`	$12.02M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$21.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	138.40M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$23.89M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	140.58M	shares	Point-in-time
Inventories	`InventoryNet`	$40.10M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	5,679.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	5,679.00	shares	Point-in-time
Inventories	`InventoryNet`	$46.30M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.47M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$132.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$118.19M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$23.43M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$23.93M	USD	Point-in-time
Investment in and loans to affiliate	`InvestmentsInAndAdvancesToAffiliatesAmountOfEquity`	$10.47M	USD	Point-in-time
Investment in and loans to affiliate	`InvestmentsInAndAdvancesToAffiliatesAmountOfEquity`	$10.07M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$18.22M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$16.29M	USD	Point-in-time
Total assets	`Assets`	$169.92M	USD	Point-in-time
Total assets	`Assets`	$183.63M	USD	Point-in-time
Current portion of long-term debt	`DebtCurrent`	$5.06M	USD	Point-in-time
Current portion of long-term debt	`DebtCurrent`	$5.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.84M	USD	Point-in-time
Accounts payable due to affiliate	`DueToAffiliateCurrent`	$325.00K	USD	Point-in-time
Accounts payable due to affiliate	`DueToAffiliateCurrent`	$104.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$26.89M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$23.00M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$58.18M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$64.11M	USD	Point-in-time
Preferred stock obligation of subsidiary	`PreferredStockObligationOfSubsidiary`	$1.07M	USD	Point-in-time
Preferred stock obligation of subsidiary	`PreferredStockObligationOfSubsidiary`	$3.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$105.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$114.17M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$6.75M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$7.00M	USD	Point-in-time
Long-term preferred stock obligation of subsidiary	`LongTermPreferredStockObligationOfSubsidiary`	$12.88M	USD	Point-in-time
Long-term preferred stock obligation of subsidiary	`LongTermPreferredStockObligationOfSubsidiary`	$12.56M	USD	Point-in-time
Long-term debt and other liabilities	`LongTermDebtNoncurrent`	$4.08M	USD	Point-in-time
Long-term debt and other liabilities	`LongTermDebtNoncurrent`	$4.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$128.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$138.15M	USD	Point-in-time
Redeemable preferred stock (liquidation preference of $64,020 at January 31, 2012 and October 31, 2010)	`TemporaryEquityCarryingAmount`	$59.86M	USD	Point-in-time
Redeemable preferred stock (liquidation preference of $64,020 at January 31, 2012 and October 31, 2010)	`TemporaryEquityCarryingAmount`	$59.86M	USD	Point-in-time
Common stock ($.0001 par value); 225,000,000 shares authorized; 140,583,373 and 138,400,497 shares issued and outstanding at January 31, 2012 and October 31, 2011, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock ($.0001 par value); 225,000,000 shares authorized; 140,583,373 and 138,400,497 shares issued and outstanding at January 31, 2012 and October 31, 2011, respectively	`CommonStockValue`	$13.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$689.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$687.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-701.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-707.28M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$13.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$15.00K	USD	Point-in-time
Treasury stock, Common, at cost (5,679 shares at January 31, 2012 and October 31, 2011)	`TreasuryStockValue`	$-53.00K	USD	Point-in-time
Treasury stock, Common, at cost (5,679 shares at January 31, 2012 and October 31, 2011)	`TreasuryStockValue`	$-53.00K	USD	Point-in-time
Deferred compensation	`CommonStockIssuedEmployeeStockTrust`	$53.00K	USD	Point-in-time
Deferred compensation	`CommonStockIssuedEmployeeStockTrust`	$53.00K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-17.83M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-13.45M	USD	Point-in-time
Noncontrolling interest in subsidiaries	`MinorityInterest`	$-995.00K	USD	Point-in-time
Noncontrolling interest in subsidiaries	`MinorityInterest`	$-924.00K	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-18.83M	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-14.38M	USD	Point-in-time
Total liabilities and deficit	`LiabilitiesAndStockholdersEquity`	$169.92M	USD	Point-in-time
Total liabilities and deficit	`LiabilitiesAndStockholdersEquity`	$183.63M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Product sales and revenues	`SalesRevenueGoodsNet`	$29.60M	USD	1 Quarter
Product sales and revenues	`SalesRevenueGoodsNet`	$25.76M	USD	1 Quarter
Research and development contracts	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$2.32M	USD	1 Quarter
Research and development contracts	`ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned`	$1.74M	USD	1 Quarter
Total revenues	`Revenues`	$31.34M	USD	1 Quarter
Total revenues	`Revenues`	$28.08M	USD	1 Quarter
Cost of product sales and revenues	`CostOfGoodsSold`	$28.06M	USD	1 Quarter
Cost of product sales and revenues	`CostOfGoodsSold`	$27.66M	USD	1 Quarter
Cost of research and development contracts	`ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross`	$1.57M	USD	1 Quarter
Cost of research and development contracts	`ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross`	$2.34M	USD	1 Quarter
Total costs of revenues	`CostOfRevenue`	$29.23M	USD	1 Quarter
Total costs of revenues	`CostOfRevenue`	$30.40M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$2.10M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-2.32M	USD	1 Quarter
Administrative and selling expenses	`SellingGeneralAndAdministrativeExpense`	$4.05M	USD	1 Quarter
Administrative and selling expenses	`SellingGeneralAndAdministrativeExpense`	$3.76M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$3.78M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$4.25M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$8.30M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$7.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.44M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-10.61M	USD	1 Quarter
Interest expense	`InterestExpense`	$630.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$54.00K	USD	1 Quarter
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-198.00K	USD	1 Quarter
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-362.00K	USD	1 Quarter
License fee and royalty income	`LicenseFeeAndRoyaltyIncome`	$359.00K	USD	1 Quarter
License fee and royalty income	`LicenseFeeAndRoyaltyIncome`	$424.00K	USD	1 Quarter
Interest and other income, net	`InterestAndOtherIncome`	$196.00K	USD	1 Quarter
Interest and other income, net	`InterestAndOtherIncome`	$41.00K	USD	1 Quarter
Loss before redeemable preferred stock of subsidiary	`IncomeLossBeforeRedeemablePreferredStockOfSubsidiary`	$-5.82M	USD	1 Quarter
Loss before redeemable preferred stock of subsidiary	`IncomeLossBeforeRedeemablePreferredStockOfSubsidiary`	$-10.46M	USD	1 Quarter
Accretion of redeemable preferred stock of subsidiary	`AccretionOfRedeemablePreferredStockOfSubsidiary`	$-525.00K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.99M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.82M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$199.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-11.01M	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.01M	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-71.00K	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-69.00K	USD	1 Quarter
Net loss attributable to FuelCell Energy, Inc.	`NetIncomeLoss`	$-10.94M	USD	1 Quarter
Net loss attributable to FuelCell Energy, Inc.	`NetIncomeLoss`	$-5.94M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$800.00K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$800.00K	USD	1 Quarter
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-11.74M	USD	1 Quarter
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.74M	USD	1 Quarter
Net loss per share to common shareholders	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Net loss per share to common shareholders	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageSharesOutstandingBasicAndDiluted`	115.09M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageSharesOutstandingBasicAndDiluted`	139.56M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-11.01M	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.01M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$540.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$780.00K	USD	1 Quarter
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-198.00K	USD	1 Quarter
Loss from equity investment	`IncomeLossFromEquityMethodInvestments`	$-362.00K	USD	1 Quarter
Accretion of redeemable preferred stock of subsidiary	`AccretionOfRedeemablePreferredStockOfSubsidiary`	$-525.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.63M	USD	1 Quarter
Depreciation	`Depreciation`	$1.45M	USD	1 Quarter
Amortization of bond premium and interest expense on Series 1 Preferred	`AmortizationOfBondPremium`	$581.00K	USD	1 Quarter
Amortization of bond premium and interest expense on Series 1 Preferred	`AmortizationOfBondPremium`	$20.00K	USD	1 Quarter
Other non-cash transactions	`OtherNoncashIncomeExpense`	$175.00K	USD	1 Quarter
Other non-cash transactions	`OtherNoncashIncomeExpense`	$-11.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.25M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.94M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.05M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$880.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.61M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.92M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-370.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-249.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.25M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-6.18M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$12.11M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.15M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$251.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$926.00K	USD	1 Quarter
Treasury notes matured	`TreasuryNotesMatured`	$12.00M	USD	1 Quarter
Treasury notes matured	`TreasuryNotesMatured`	$7.50M	USD	1 Quarter
Treasury notes purchased	`TreasuryNotesPurchased`	$22.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.57M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.25M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$55.00K	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$64.00K	USD	1 Quarter
Proceeds from debt	`ProceedsFromRepaymentsOfDebt`	$1.00M	USD	1 Quarter
Payment of preferred dividends and return of capital	`PaymentOfPreferredDividendsAndReturnOfCapital`	$800.00K	USD	1 Quarter
Payment of preferred dividends and return of capital	`PaymentOfPreferredDividendsAndReturnOfCapital`	$4.29M	USD	1 Quarter
Proceeds from sale of common stock, net of registration fees	`ProceedsFromIssuanceOfCommonStock`	$1.19M	USD	1 Quarter
Proceeds from sale of common stock, net of registration fees	`ProceedsFromIssuanceOfCommonStock`	$17.88M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$18.02M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.15M	USD	1 Quarter
Effects on cash from changes in foreign currency rates	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-2.00K	USD	1 Quarter
Effects on cash from changes in foreign currency rates	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$2.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.38M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.62M	USD	1 Quarter
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$51.41M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.47M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.09M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.03M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$51.41M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.47M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.09M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.03M	USD	Point-in-time
Cash interest paid	`InterestPaid`	$63.00K	USD	1 Quarter
Cash interest paid	`InterestPaid`	$54.00K	USD	1 Quarter
Common stock issued in settlement of prior year bonus obligation	`CommonStockIssuedInSettlementOfPriorYearBonusObligation`	$550.00K	USD	1 Quarter
Common stock issued in settlement of prior year bonus obligation	`CommonStockIssuedInSettlementOfPriorYearBonusObligation`	$707.00K	USD	1 Quarter
Common stock issued for Employee Stock Purchase Plan in settlement of prior year accrued employee contributions	`CommonStockIssuedForEmployeeStockPurchasePlanInSettlementOfPriorYearAccruedEmployeeContributions`	$84.00K	USD	1 Quarter
Common stock issued for Employee Stock Purchase Plan in settlement of prior year accrued employee contributions	`CommonStockIssuedForEmployeeStockPurchasePlanInSettlementOfPriorYearAccruedEmployeeContributions`	$58.00K	USD	1 Quarter
Accrued sale of common stock, cash received in subsequent period	`AccruedSaleOfCommonStockCashReceivedInSubsequentPeriod`	$193.00K	USD	1 Quarter
Accrued fees related to sale of common stock	`AccruedFeesRelatedToSaleOfCommonStock`	$112.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.