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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Idatech | LSE:IDA | London | Ordinary Share | GB00B1WTNQ84 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIDA RNS Number : 4378K IdaTech PLC 20 April 2010 For Immediate Release 20 April 2010 Trading Update ("IdaTech" or "the Company") IdaTech plc (AIM: IDA) a global leader in the development and manufacture of clean and reliable PEM fuel cell products for critical backup power markets today provides the following trading update. The Company advises a downward revision to its revenue expectations for 2010, while maintaining its current year guidance on unit sales, gross margin, operating profit cash usage and net debt expectations. The reduction in revenue outlook has occurred primarily due to a requirement by an Indian telecommunications company, BSNL, to re-tender a multi- billion dollar infrastructure programme, into which IdaTech expected to sell several hundred systems this year. The Company does not expect to make up that volume between now and the end of the year. In addition, the product mix is likely to be more skewed towards basic hydrogen units than anticipated, which sell for lower overall price. Importantly, these hydrogen units are producing a positive contribution margin and IdaTech has found them useful to help prime the adoption rate for its reformed fuel cell products. Outside the BSNL tender, the Company continues to see growing demand and adoption for its products in its core geographies. IdaTech is highly focused on completing the development of its next generation methanol fueled backup power product. This product offers increased performance at a cost that can profitably compete with diesel generators. The Company maintains its guidance for launching that product in the second half of 2010. For further information please contact: +----------------------------------+----------------------------+ | IdaTech plc | +1 541 383 3390 | +----------------------------------+----------------------------+ | Harol Koyama, Chief Executive | | | Officer | | +----------------------------------+----------------------------+ | James Cooke, Chief Financial | | | Officer | | +----------------------------------+----------------------------+ | | | +----------------------------------+----------------------------+ | Numis Securities Limited | +44 (0) 20 7260 | | | 1000 | +----------------------------------+----------------------------+ | Michael Meade | | +----------------------------------+----------------------------+ | | | +----------------------------------+----------------------------+ | Buchanan Communications | +44 (0) 20 7466 5000 | +----------------------------------+----------------------------+ | Charles Ryland / Catherine Breen | | +----------------------------------+----------------------------+ | | | +----------------------------------+----------------------------+ This information is provided by RNS The company news service from the London Stock Exchange END TSTLKLLFBZFZBBB
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