Capstone Turbine to Host Open House for Equity Analysts and Investors at Newly Consolidated Facility
VAN NUYS, Calif., Sept. 06, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST), the world’s leading clean technology manufacturer of microturbine energy systems, is pleased to announce that it will host an equity analyst and investor open house at its Van Nuys, California facility on Wednesday, October 3, 2018, beginning at 10:00 a.m Pacific Time and concluding at 12:00 p.m. Pacific Time.
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Equity analysts and investors will have the opportunity to tour the recently consolidated Van Nuys manufacturing facility and world headquarters located at 16640 Stagg Street in Van Nuys, California. In addition, participants will be able to ask questions and interact directly with key members of management on an informal basis. Attending from the company will be Darren Jamison, President and Chief Executive Officer; Jayme Brooks, Chief Financial Officer and Chief Accounting Officer; Jim Crouse, Executive Vice President of Sales and Marketing; Jeff Foster, Senior Vice President of Customer Service and Quality; and Kirk Petty, Vice President of Manufacturing, in addition to other key members of the management team.
“We are excited to host an open house as part of our continuous effort to enhance transparency with our shareholders and the investment community and show them firsthand how we successfully combined our two manufacturing facilities into one, and in just nine short months. This was a key piece of our strategic cost-cutting effort, and the results of the consolidation have greatly improved Capstone’s overall efficiency, reduced waste and improved our corporate culture,” said Darren Jamison, Capstone’s President and Chief Executive Officer.
“Using Six Sigma and Lean methodologies, we’ve been able to see significant improvements through the streamlining of all operational processes, including direct manufacturing and administrative support functions,” said Kirk Petty, Capstone’s Vice President of Manufacturing. “As a result of our successful facility consolidation, we have reduced operations overtime approximately 50%, which is making overtime significantly lower as a percentage of revenue. In fact, we recently achieved less than a .002% total annual physical inventory variance which was one of the lowest in Capstone history,” added Mr. Petty.
Company executives will present Capstone’s FY2019 strategic business goals, corporate overview and growth strategy. Company executives will be available for a thirty-minute question and answer session immediately following the company presentation and prior to the facility tour.
“I look forward to sharing management’s vision on how we can continue to improve on the estimated $194 million in annual energy costs and 314,000 tons of carbon we saved customers last year. Furthermore, we have an excellent opportunity to build on our strategic goals and recent achievements,” concluded Mr. Jamison.
Equity analysts and investors interested in attending should contact Integra Investor Relations at cpst@integra-ir.com as pre-registration is required to attend the Open House event and the number of participants is limited.
The Company’s presentation can be viewed the day of the Open House by visiting the Investor Relations section of the Company’s website at www.capstoneturbine.com.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST) is the world’s leading producer of low-emission microturbine systems and was the first to market commercially viable microturbine energy products. Capstone has shipped over 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone is a member of the U.S. Environmental Protection Agency’s Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation’s energy infrastructure and reducing emissions of pollutants and greenhouse gases. A DQS-Certified ISO 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.
For more information about the company, please visit www.capstoneturbine.com. Follow Capstone Turbine on Twitter, LinkedIn and YouTube.
Forward-Looking Statements
This press release contains “forward-looking statements,” as that term is used in the federal securities laws. Forward-looking statements may be identified by words such as “expects,” “believe,” “objective,” “intend,” “targeted,” “plan” and similar phrases. These forward-looking statements are subject to numerous assumptions, risks, and uncertainties described in Capstone's filings with the Securities and Exchange Commission 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 after the date of this release or to reflect the occurrence of unanticipated events.
“Capstone” 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
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
Integra Investor Relations
Shawn M. Severson
415-226-7747
cpst@integra-ir.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a5b8e03f-44e0-4247-9f54-9dce92c1799e
https://www.globenewswire.com/NewsRoom/AttachmentNg/c061590a-3c9b-4842-b054-0ea334900878
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.
Released September 6, 2018
