Capstone Turbine Files Notification of Late Filing for Annual Report on Form 10-K.CHATSWORTH Chatsworth, estate, Derbyshire, central England, near Chesterfield. It is the seat of the dukes of Devonshire. Begun in 1552, the present Classical-style Chatsworth House was rebuilt in 1686. , Calif. -- Today, Capstone Turbine Capstone Turbine Corporation NASDAQ: CPST, incorporated in 1988, is a California based gas turbine manufacturer that specializes in microturbine power and heat cogeneration systems. Capstone has sold and shipped more than 3,000 of these one-moving-part systems worldwide. Corporation (www.microturbine.com) (Nasdaq:CPST CPST Cable Programming Services Tier CPST Commission on Professionals in Science and Technology CPST Community Psychiatric Supportive Treatment (Ohio) CPST Child Passenger Safety Technician CPST Classical Perturbation Scattering Theory ), filed a notification of late filing of its annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. with the Securities and Exchange Commission. In the filing, Capstone noted that the Company was filing for a 15-day extension because it was not able to complete the preparation of the consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge and management's assessment of internal controls over financial reporting, as required by the Sarbanes Oxley Act, within the initial filing timeframe provided. Further, Capstone disclosed that it expects to report a net loss of approximately $40 million, or $0.47 per share for its fiscal year ended March 31, 2005, as compared with a net loss of $47.7 million, or $0.58 per share reported for the prior year. Capstone cautioned that the results for fiscal 2005 are subject to change based on the completion of the Company's year-end procedures and the completion of the audit by its outside auditors AUDITORS, practice. Persons lawfully appointed to examine and digest accounts referred to them, take down the evidence in writing, which may be lawfully offered in relation to such accounts, and prepare materials on which a decree or judgment may be made; and to report the whole, together . Capstone reported it expects to file its Form 10-K on or before June 29, 2005. About Capstone Turbine Capstone Turbine Corporation (www.microturbine.com) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems. In 1998, Capstone was the first to offer commercial energy products utilizing microturbine technology, the result of more than ten years of focused research. Capstone Turbine has sold and shipped more than 3,000 Capstone MicroTurbine systems to customers worldwide. These award-winning systems have logged more than 7 million hours of documented operation. This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ," as that term is used in the federal securities laws, about Capstone's business, with regard to, among other items, its expected date of filing the Form 10-K. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan," "driving to" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date of this release or to reflect the occurrence of unanticipated events. "Capstone Turbine Corp" is a registered trademark of Capstone Turbine Corporation. |
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