Hydrogenics Reports Second Quarter 2009 Results
Mississauga, Ontario. August 14, 2009 – Hydrogenics Corporation (NASDAQ: HYGS;
TSX: HYG), a leading developer and manufacturer of hydrogen generation and fuel cell
products, today reported second quarter 2009 results. Results are reported in US dollars and
are prepared in accordance with Canadian generally accepted accounting principles.
Financial Highlights
• Received shareholder and court approvals to move forward with a previously
announced non-dilutive financing transaction that will bring roughly C$10.8 million
before transaction costs, to bolster our balance sheet.
• Revenues were $5.5 million and $11.1 million for the three and six months ended June
30, 2009, decreases of 36% and 35%, respectively, from the comparable periods in
2008, excluding our Test Systems business unit.
• Gross margin was 16% for the three months ended June 30, 2009, a decrease of
seven percentage points from the comparable period in 2008. Gross margin was 22%
for the six months ended June 30, 2009...
http://www.sedar.com/...anyDocuments.do?lang=EN&issuerNo=00014832 -----------
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