(Adds details from the statement)
March 17 (Reuters) - Fuel cell maker Plug Power Inc reported a bigger-than-expected quarterly loss as costs and expenses more than doubled, sending its shares down nearly 11 percent in premarket trading.
Plug Power, whose fuel cells offer a pollution-free alternative to power forklifts, said revenue more than doubled to $21.5 million for the fourth quarter.
Analysts on average, however, had expected $26.3 million, according to Thomson Reuters I/B/E/S.
Plug Power, which counts Daimler AG, Wal-mart Stores Inc and Coca-Cola Co among its customers, has been under investors' radar for uneven revenue recognition as some customers delayed payments to work out financing.
On an adjusted basis, the company reported a quarterly loss of 8 cents per share for the quarter ended Dec. 31, bigger than average estimate of a 4 cents loss.
Cost of product revenue jumped 71 percent to $10.4 million.
The company reiterated its 2015 sales forecast of at least $100 million. Analysts on average were expecting $107.1 million.
Net loss attributable to common shareholders narrowed to $7.2 million, or 4 cents per share, from $28.9 million, or 28 cents per share, a year earlier when it recorded a $21 million charge related to stock warrants.
The company recorded a $6.1 million gain related to stock warrants in the latest reported quarter.
(Reporting by Sneha Banerjee and Anannya Pramanick in Bengaluru; Editing by Don Sebastian)