Plug Power Inc. (NASDAQ: PLUG) reported fourth-quarter and fiscal year 2014 results before markets opened Thursday. The fuel cell maker posted an adjusted diluted earnings per share (EPS) loss of $0.08 on revenues of $8.0 million. In the same period a year ago, Plug Power reported an EPS loss of $0.25 on revenues of $5.9 million. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for an EPS loss of $0.08 and $7.45 million in revenue.

For the full year, Plug Power reported an EPS loss of $0.34 on revenues of $26.6 million, compared with an EPS loss of $1.07 on revenues of $26.1 million in the prior year. The consensus estimates called for an EPS loss of $0.48 on revenues of $26.05 million.

Plug Power shipped 279 units during the fourth quarter of 2013, compared to 518 units in the fourth quarter of 2012. For the full year, the company shipped 918 units, compared to 1,391 in 2012.

The company has booked $60 million in sales orders already in 2014, after booking $32 million in the fourth quarter of 2013.

Plug Power did not offer guidance, but consensus estimates call for an EPS loss of $0.05 on revenues of $7.85 million in the first quarter. For the full year, revenues are forecast at $63.7 million and the EPS loss is estimated to reach $0.11.

The company’s CEO said:

Although a lot has happened since our last call, I am more bullish than ever that Plug Power is moving into a rapid-growth cycle. We kicked off the first quarter of 2014 by signing a multi-site, multi-year GenKey contract with Walmart that surpassed our Q1 goals. I firmly believe that this continuing momentum will carry on throughout 2014, and that orders for this year will total more than $150 million — almost four times our total for 2013. We also are on track to achieve our goal of EBITDAS break even by Q3 2014.

EBITDAS is defined as the company’s operating earnings (or loss), depreciation, amortization and stock-based compensation.

Gross margins are still negative, but the loss is getting smaller, having dropped from a negative 59.9% in the fourth quarter a year ago to 36% in the fourth quarter of 2013.

In any event, almost nothing Plug Power could have said would have been a weight on its share price. Revenues are higher and promise to rise more following the company’s recent deal with Wal-Mart Stores Inc. (NYSE: WMT). After a sharp drop on Tuesday, the shares gained back a piece Wednesday and are likely to gain back even more Thursday.

Shares were up nearly 6% in premarket trading, at $7.19 in a 52-week range of $0.15 to $11.72. Thomson Reuters had a consensus analyst price target from just two analysts of around $3.15 before these results were announced.

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