Capstone Turbine Corporation (NASDAQ:CPST), the maker of clean-energy microturbines, said it will participate in the alphaDIRECT Virtual Conference Series to discuss its preliminary fiscal fourth-quarter results for 2020 and provide an update on its coronavirus (COVID-19) business continuity plan.
The presentation, scheduled for 2.00pm ET on April 23, will be made by Capstone Turbine CEO Darren Jamison and CFO Eric Hencken. Their talk will be followed by a short question and answer session.
The presentation will be webcast live and available for replay at Capstone’s website www.capstoneturbine.com and under the alphaDIRECT investor center at https://www.alphadirectadvisors.com.
Capstone boss Jamison said that during this unprecedented coronavirus pandemic and “collapse of global crude oil prices,” the company felt it “prudent” to participate in the alphaDIRECT Virtual Conference Series.
“We have the opportunity to provide a brief overview of how Capstone Turbine has been navigating through these globally turbulent times, and outline some of the important steps that we have taken to mitigate the current business environment," Jamison said.
"Additionally, we wanted to provide an update on our continuing strategy to put ourselves in the best position possible to deliver on our stated goal of positive adjusted EBITDA in the current quarter," he added.
Capstone has responded to the coronavirus outbreak with a Business Continuity Plan focused on its “employees, customers, supply chain partners and shareholders.” In keeping with the blueprint, Capstone said it is supporting critical Aftermarket Factory Protection Plan (FPP) long-term service contracts and spare parts deliveries to “essential critical infrastructure customers,” such as energy, health care, wastewater treatment, and food manufacturing.
It is doing this while sustaining two key business goals — cash flow and liquidity. The company aims to be adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) positive in the upcoming June quarter.
"In these uncertain times, the health and safety of our Capstone and distributor employees, their families, and our communities are of the highest importance, as well as doing everything possible to still deliver on our stated goal of positive adjusted EBITDA in the current quarter," said Capstone CFO Hencken.
"We believe we can achieve this goal through a reduction in costs from our COVID-19 Business Continuity Plan and by leveraging our high margin, reoccurring revenue streams," he added.
To register for and attend the webcast, use this link: https://globalmeet.webcasts.com/starthere.jsp?ei=1308882&tp_key=362bd38f0e
Capstone, based in Van Nuys, California, offers a product line-up of microturbines that can produce anywhere from 30 kilowatts to 10 megawatts of power, operating on a variety of gaseous or liquid fuels. To date, Capstone has shipped over 9,000 units to 73 countries.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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