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Plug Power posts profit on stock warrant gain
August 14, 2014 / 11:25 AM / in 3 years

Plug Power posts profit on stock warrant gain

Aug 14 (Reuters) - Fuel-cell maker Plug Power Inc reported a quarterly net profit, helped by a $9.6 million gain related to its stock warrants.

The company reported a net income of $3.8 million, or 2 cents per share, in the second quarter ended June 30, compared with a net loss of $9.3 million, or 14 cents per share, a year earlier.

The year-earlier quarter included a charge related to a change in value of the company’s stock warrants.

Revenue rose 131 percent to $17.32 million.

The company’s shares rose 6 percent to $6.20 in premarket trading. (Reporting by Swetha Gopinath in Bangalore)

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