08.07.05

8.7.2005: Meldung: Capstone Turbine Corp.: Agreement with Wesco - Follow-On Order from Russia - Board of Directors adopted a Stockholder Rights - Fiscal-Year 2005 Results

Capstone Turbine Announces National Sales Representative Agreement with WESCO
Wednesday July 6, 9:00 am ET

CHATSWORTH, Calif.-- July 6, 2005--Capstone Turbine Corporation (www.microturbine.com; Nasdaq:CPST - News), the world"s leading manufacturer of microturbine energy systems, today announced the signing of a National Sales Representative Agreement with WESCO? Distribution, Inc., (www.wescodist.com) the primary operating entity for Pittsburgh-based WESCO International, Inc. (NYSE:WCC - News).

"This agreement opens the door for a myriad of new sales opportunities for Capstone, because WESCO provides a highly knowledgeable sales team that will expand our reach geographically. Even more importantly, they will provide "feet on the street" that are essential to improving adoption of our products," said John Tucker, Capstone"s Chief Executive Officer.

"Consummation of this agreement is the first of a number of initiatives we expect to announce in the near future, all aimed at accomplishing our strategic objectives, and enhancing value for both customers and shareholders," he said.

WESCO Distribution, Inc. is a leading distributor of electrical construction products and electrical and industrial maintenance, repair and operating (MRO) supplies, and is the nation"s largest provider of integrated supply services with 2004 annual product sales of approximately $3.7 billion. The Company employs approximately 5,350 people, maintains relationships with 24,000 suppliers, and serves more than 100,000 customers worldwide. Major markets include commercial and industrial firms, contractors, government agencies, educational institutions, telecommunications businesses and utilities. WESCO operates five fully automated distribution centers and approximately 350 full-service branches in North America and selected international markets, providing a local presence for area customers and a global network to serve multi-location businesses and multi-national corporations.

The National Sales Representative Agreement between Capstone and WESCO Distribution was signed to enhance the sale of Capstone MicroTurbine? energy systems.

"This arrangement offers Capstone the opportunity to strategically leverage WESCO"s broad capabilities throughout the country," said Tucker. "Their expertise and knowledge in electrical systems and components will be a great addition to complement Capstone"s strategic sales growth initiatives. This will be particularly beneficial in markets where the installation of onsite distributed generation and combined heat and power (CHP) is needed."

Tucker continued, "The talented and professional sales force of WESCO brings to us exactly the capabilities we have been seeking to augment our sales efforts. WESCO"s broad geographic and commercial presence enhances the opportunity for improved sales growth for Capstone MicroTurbines. In particular we anticipate WESCO can create a positive impact for Capstone in large corporate account arenas, such as hotels, apartments and condominiums, and commercial and industrial properties."

About Capstone Turbine

Capstone Turbine Corporation (www.microturbine.com)(Nasdaq:CPST - News) 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 shipped more than 3,000 Capstone MicroTurbine systems to customers worldwide. These award-winning systems have logged more than 9 million hours of documented operation. An ISO 9001:2000 certified company, Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Milan and Tokyo.

"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

Editors:

Spec sheets on Capstone MicroTurbine models are at: www.microturbine.com/technology/specsheets.asp

Some example case studies are at: www.microturbine.com/onsite
Contact:

Capstone Turbine Corporation
General Media:
Keith Field, 818-407-3615
Investor and Investment Media:
Cynthia Martinez, 818-407-3643


Source: Capstone Turbine Corporation





Capstone Records Another Follow-On Order from Russia
Wednesday July 6, 9:20 am ET

MILAN, Italy--July 6, 2005--The European sales and service office of Los Angeles-based Capstone Turbine Corporation (www.microturbine.com; Nasdaq:CPST - News), the world"s leading manufacturer of microturbine energy systems, today announced another follow-on order from its distributor in Russia amounting to a total of 1.7 megawatts of both 60- and 30-kilowatt microturbine products.

Capstone"s distributor in Russia, BPC Energy (www.capstone.ru), today ordered the systems, which will be deployed at four different sites, including a shopping center and telecommunications facilities. In April 2005, BPC Energy ordered approximately 2.3 megawatts of 60-kilowatt Capstone MicroTurbine? energy systems. A half-megawatt of those systems will be used to provide power and heat at a hotel in Moscow and 1.8 megawatts of C60s will generate power and heat at a ski resort near St. Petersburg.

"Our research identified Russia as a potentially good market and today we are seeing that become reality with repeatable business opportunities for our products," Capstone VP of Sales and Service, Tony Hynes, said from a recent seminar in Moscow. "These opportunities are coming to fruition as we gain momentum in that market, thanks to the reliability and effectiveness demonstrated by the Capstone systems expertly deployed across Russia by our distributor BPC Energy."

"We are having great success with our Capstone MicroTurbine systems," said Alexander Skorokhodov, Executive Director of BPC Energy. "The successes we are having with existing Capstone installations are excellent examples to our new customers. Businesses in our growing economy here are searching for clean and reliable energy solutions. We are showing them that the proven Capstone MicroTurbines are the match to those needs. Capstone"s products are the cornerstone of BPC"s businesses growth."

About Capstone Turbine

Capstone Turbine Corporation (www.microturbine.com) (Nasdaq:CPST - News) 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 shipped more than 3,000 Capstone MicroTurbine systems to customers worldwide. These award-winning systems have logged more than 9 million hours of documented operation. An ISO 9001:2000 certified company, Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Milan and Tokyo.

"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

Editors: Publication-quality photos of one of BPC"s microturbine installations are at: www.microturbine.com/whatsnew/morePhotos.asp?newsid=352

Spec sheets on Capstone MicroTurbine models are at: www.microturbine.com/technology/specsheets.asp

Some example case studies are at: www.microturbine.com/onsite
Contact:

Capstone Turbine Corporation
General Media:
Keith Field, 818-407-3615
Investor and Investment Media:
Cynthia Martinez, 818-407-3643


Source: Capstone Turbine Corporation




Capstone Turbine Board Adopts Stockholder Rights Plan to Ensure Fair and Equal Treatment for All Stockholders in the Event of a Coercive or Unfair Takeover Attempt

Wednesday July 6, 9:25 am ET

CHATSWORTH, Calif.-- July 6, 2005--Capstone Turbine Corporation (the "Company") (Nasdaq:CPST - News) announced today that its Board of Directors adopted a Stockholder Rights Plan to ensure all of Capstone"s stockholders receive fair and equal treatment in the event of a proposed takeover or use of a partial tender offer to gain control of the Company and that its Board has the opportunity to maximize value for all of its stockholders.

"From time to time, including in the recent past, Capstone has received expressions of interest from third parties. The goal of the Rights Plan is not to prevent an acquisition of the Company, but rather to protect the Company and its stockholders from coercive or unfair takeover tactics that could deprive the Board and stockholders of opportunities to maximize the Company"s value," John Tucker, President and Chief Executive Officer of Capstone said. "The Rights Plan is designed to deter coercive takeover tactics, including the accumulation of shares in the open market or through private transactions, and to prevent an acquiror from gaining control of the Company without offering a fair price to all of the Company"s stockholders."

The plan is initially not dilutive and, until the rights separate from the underlying common shares and become exercisable following certain events, is not expected to have any effect on the trading of the common shares of the Corporation or reported earnings and cash flow per share on a fully diluted or non-diluted basis.

Pursuant to the Plan, Rights will be distributed as a dividend at the rate of one Right for each share of common stock, par value $0.001 per share, of the Company held by stockholders of record as of the close of business on July 18, 2005. The Rights are set to expire on July 18, 2015 but are subject to a so-called "sunset provision," which would terminate the Rights Plan unless the Company"s stockholders specifically approve its continuation at the 2008 annual stockholders meeting.

Each Right initially will entitle stockholders to buy one unit of a share of preferred stock for $10.00. The Rights generally will be exercisable only if a person or group acquires beneficial ownership of 15% or more of the Company"s common stock or commences a tender or exchange offer upon consummation of which such person or group would beneficially own 15% or more of the Company"s common stock.

If any person becomes the beneficial owner of 15% or more of the Company"s common stock, other than pursuant to a tender or exchange offer for all outstanding shares of the Company approved by a majority of the independent directors not affiliated with a holder of 15% or more of the Company"s stock, then each Right not owned by a 15%-or-more stockholder or related parties will entitle its holder to purchase, at the Right"s then current exercise price, in lieu of the unit of preferred stock, shares of the Company"s common stock (or, in certain circumstances as determined by the Board, cash, other property, or other securities) having a value of twice the Right"s then current exercise price. In addition, after any person has become a 15%-or-more stockholder, if the Company is involved in a merger or other business combination transaction with another person in which the Company does not survive or in which its common stock is changed or exchanged, or sells 50% or more of its assets or earning power to another person, each Right will entitle each holder, other than any person who has become a 15%-or-more stockholder, to purchase, at the Right"s then current exercise price, shares of common stock of such other person having a value of twice the Right"s then current exercise price.

The Company will generally be entitled to redeem the Rights at $0.0001 per Right or exchange the Rights for one share of common stock per Right at any time until 10 days (subject to extension) after a public announcement that a 15% position in the Company"s common stock has been acquired.

Details of the Stockholder Rights Plan are outlined in a letter that will be mailed to all stockholders.

About Capstone Turbine

Capstone Turbine Corporation? (www.microturbine.com; Nasdaq:CPST - News) 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 shipped more than 3,000 Capstone MicroTurbine? systems to customers worldwide. These award-winning systems have logged more than 9 million hours of documented operation. An ISO 9001:2000 certified company, Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Milan and Tokyo.

"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation.
Contact:

Sitrick & Company, Inc.
Michael Sitrick, 310-788-2850


Source: Capstone Turbine Corporation




Capstone Turbine Announces Fiscal-Year 2005 Results
Wednesday July 6, 4:11 pm ET

CHATSWORTH, Calif.-- July 6, 2005--Capstone Turbine Corporation? (Nasdaq:CPST - News; www.microturbine.com) reported results for its fiscal year 2005 in its Form 10-K filed with the Securities and Exchange Commission on June 29, 2005.


"We are pleased with the progress we made in fiscal 2005 to build Capstone," said John Tucker, President and CEO of Capstone. "A year ago, we developed our strategic plan for transitioning Capstone into a cash flow positive and profitable company. In the first year of executing on that plan, we made progress in all of our identified initiatives. Focusing our marketing efforts and growing business in our targeted markets was one key element of the plan. The growth in orders, with fiscal 2005 orders more than 190% of the order rate recorded in fiscal 2004, demonstrates our initial success in penetrating these targeted markets. This success came in part from our work to rationalize our channels and to create a more tailored approach to the targeted markets. In fiscal 2005, approximately 90% of our sales were still generated by our distributors and dealers."

Tucker continued, "A key enabling factor to our market success came from the improvements we made in our product robustness. As a result of these improvements, we are more confident today that customers" applications of Capstone MicroTurbines? will produce positive performance for their businesses. The improvements also resulted in an ability to lower our standard warranty costs by one-third for new sales. We are very pleased that more than 9 million operating hours have been accumulated for Capstone MicroTurbines. We look forward to the continuing growth in the run-time hours for our products." In announcing Capstone"s expanded fuel capabilities for its C60 microturbines, Tucker said, "We believe the additions we have made to the operating fuels for our model C60 microturbines, gaseous propane and compress natural gas, and our expected introduction of a C60 biogas model in late fall of this year, will provide even greater appeal to our target markets."

"Our success has come in part from our expanded market presence," said Tony Hynes, Vice President of Sales and Service for Capstone. "In fiscal 2005, we opened a field service office in Japan to support our distributors and end users in that region. We also opened sales and service offices in New York and Italy. Our Italian office, which serves as our European headquarters, has already reported orders for fiscal year 2006 of more than 7 megawatts. This represents roughly the same level of business in Europe, in just over three months in fiscal 2006, as Capstone has received from Europe since its first sales of microturbines in 1998. We are delighted at the success our regional presence has delivered." Further, Hynes announced, "As a result of the success we have had with our local presence, we are opening Capstone Mexico and are exploring the possibility of an office in Boston. Our new office in New York has already produced 2.4 megawatts of new orders since it opened in December 2004. We believe our prospects are very strong for continuing business growth in the Northeastern United States."

Year-to-date orders in fiscal 2006 reported by Capstone were 9.8 megawatts and backlog as of July 6th stands at 17.1 megawatts. "This level represents more megawatts in backlog today than Capstone shipped in all of fiscal 2005," said Tucker. "The investments we made in building our business in fiscal 2005 are already paying off in fiscal 2006. With our tremendous early successes in fiscal 2006, we are closing in on our targeted sales level for the year. We expect that further changes we are making in the business, such as our new National Sales Representative agreement with WESCO Distribution that we announced earlier today, and additional developments we expect to announce soon, will provide us even more momentum in our targeted markets."

In summarizing Capstone"s revisit of its three-year strategic plan, Tucker said, "We reconfirmed our target markets of CHP/CCHP, Resource Recovery, Power Reliability and Remote Power when we revisited our strategic plan. Our approach to our distribution channels, combining sales through distributors and dealers, as well as direct sales and lead generation by sales representatives, was also reaffirmed. Our goals for fiscal 2006 include doubling our sales as compared with fiscal 2005, reaching a positive gross margin and reducing our cash burn. We continue to target reaching cash flow positive in our fiscal year 2007 that ends March 31, 2007."

Capstone"s financial highlights for fiscal 2005 included sales of $17.0 million, up $4.4 million from $12.6 million reported for fiscal 2004. The majority of the increase in sales reflected higher demand for the Company"s C60 model microturbines. Backlog at the end of fiscal 2005 was 10.8 megawatts, reflecting backlog at the beginning of the year of 6.5 megawatts, orders during the period of 20.8 megawatts and shipments of 16.5 megawatts.

The reported gross loss was $6.9 million for fiscal 2005, an improvement of $9.9 million from the $16.8 million loss reported in fiscal 2004. Lower warranty costs accounted for the change between periods.

Operating expenses were $34.2 million for the year, up $2.1 million from the prior year. The higher spending resulted primarily from higher consulting costs for Sarbanes-Oxley compliance work, information technology systems developments and market development activities.

Capstone"s net loss was $39.4 million, an improvement of $8.3 million from the $47.7 million loss reported in fiscal 2004. Fiscal 2005"s reported net loss was $0.47 per share as compared with $0.58 a year earlier.

Cash usage in the fiscal year was $38.8 million, an increase of $8.6 million from fiscal year"s cash usage of $30.2 million. The higher cash usage was largely attributable to cash used for inventory purchases in the current year as opposed to cash sources from inventory reductions in the prior year.

Cash and cash equivalents at the end of the year were $63.6 million.


About Capstone Turbine

Capstone Turbine Corporation? (www.microturbine.com) (Nasdaq:CPST - News) 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 shipped more than 3,000 Capstone MicroTurbine? systems to customers worldwide. These award-winning systems have logged more than 9 million hours of documented operation. An ISO 9001:2000 certified company, Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Milan and Tokyo.

"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.


Contact:

Capstone Turbine Corporation
General Media Inquiries:
Keith Field, 818-734-5465
Investor and Investment Media Inquiries:
Cindy Martinez, 818-407-3643 (Investor Info.)


Source: Capstone Turbine Corporation
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