•Net income for the second quarter was $3.8 million, or $0.02 per share on an unadjusted basis.
•Plug Power saw record revenues at $17.3 million for the second quarter, which is three-times greater than that seen in the first quarter of 2014.
•The company shipped 687 units during the second quarter of 2014 compared to 246 units in the second quarter of 2013.
•Plug had $168.6 million of cash and net working capital of $190.4 million at June 30, 2014 compared to $5.0 million and $11.1 million, respectively, at the end of 2013.
Plug Power (NASDAQ:PLUG) just reported its second quarter earnings figures. It was one heck of a quarter which has triggered a small short squeeze as shares are up 7% at the time of this writing. The company saw total revenue for the second quarter come in at a record of $17.3 million. This revenue was made up of $12.6 million of product revenue, $4.4 million of service revenue and $0.3 million of research and development contract revenue. This compares to total revenue of $7.5 million for the comparable 2013 quarter, which was comprised of $5.6 million of product revenue, $1.5 million of service revenue and $0.4 million of research and development contract revenue. What is more, the company shipped 687 units of its GenDrive system during the second quarter of 2014 compared to 246 units in the second quarter of 2013. However, the company is still
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