Ballard Power Systems, a Vancouver British Columbia, Canada based fuel cell manufacturer is flirting with becoming profitable.
The enthusiasm surrounding fuel cells has been the roller coaster ride of the past generation with hopes pushing Ballard’s stock for example beyond $120 while today it’s about $1.
But Ballard stays in the hunt, average product cost has fallen by 60%, revenue is expected to surpass $100 million in fiscal 2012, more than double 2009 results, and the company is projecting it will have positive cash flow in the second half of 2012.
Ballard might hit the breakeven mark, with another deal done, for “adjusted” earnings before interest, taxes, depreciation and amortization, a financial measuring number of operating performance that excludes certain items. Adjusted earnings suggest that true profitability is within reach.