Capstone Turbine Informs of Temporary Production Interruption.Business Editors 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.--(BUSINESS WIRE)--Sept. 17, 2003 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 (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 ) (www.microturbine.com), today announced that it has temporarily delayed production of certain models of its products. "We identified quality issues in some components used in the manufacturing of certain models of our products. Given our focus on quality and our objective of delivering high quality products to our customers that perform consistently over their lifetimes, we felt it was imperative to delay shipments until this can be resolved. We are actively working to correct the affected components and anticipate production will resume near the end of this quarter," said John Tucker For other persons named John Tucker, see John Tucker (disambiguation). John G. Tucker (born September 29, 1964) is a former Canadian professional ice hockey centre who played twelve seasons in the National Hockey League in the 1980s and 90s. , Capstone's new Chief Executive Officer. Mr. Tucker continued, "We do not anticipate that backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. or new orders from customers will be materially impacted by this temporary delay. However, third quarter results are expected to be lower than previously expected, as we are currently estimating shipments will be between 1.4 and 2.3 megawatts and sales will be approximately $2 to $3 million. We expect that orders previously scheduled to ship in the third quarter will now shift into the fourth quarter." About Capstone Turbine Capstone Turbine Corporation (www.microturbine.com; Nasdaq:CPST) is the world's leading producer of low-emission adj. 1. producing little emission of atmospheric pollutants; as, a low-emission vehicle s>. microturbine systems. In 1998, Capstone was the first to offer commercial power products utilizing microturbine technology, the result of more than ten years of focused research. Capstone Turbine has sold and shipped more than 2,500 commercial production Capstone MicroTurbine systems to customers worldwide. These award-winning Adj. 1. award-winning - having received awards; "this award-winning bridge spans a distance of five miles" systems have logged more than 4 million hours of 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 the company's objectives, the success of its work to remedy the situation, the accuracy of its estimates regarding anticipated shipments and revenues, the probability of resuming production as anticipated, and the impact on backlog, orders and shipments. 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. Such factors include, but are not limited to Capstone's ability to remedy the issue in the anticipated time frame and other factors detailed in the Company's filings with the Securities and Exchange Commission. Capstone cautions readers not to place undue reliance on these 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. All other trademarks mentioned in this press release are the property of their respective owners. |
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