Hydrogenics Provides Update on Fourth Quarter Outlook
16 12월 2014 - 8:30PM
Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG)
("Hydrogenics" or "the Company"), a leading developer and
manufacturer of hydrogen generation and hydrogen-based power
modules, today announced the delivery delay of two projects
scheduled for shipment in the fourth quarter. The revenue
associated with these customers, approximately $5 million in
aggregate, will now be recognized in the first quarter of
2015.
"Supplier material issues have, unfortunately, caused near-term
delays in planned shipments to two important customers this
quarter," said Daryl Wilson, President & CEO of Hydrogenics.
"These supplier constraints, exacerbated by the fact that the
materials in question failed our internal quality inspection
process, means that customer shipment is impossible until early in
the first quarter of 2015. While we still expect to achieve
positive Adjusted EBITDA1 in the fourth quarter, we are unable to
reach our planned target of exceeding $50 million in revenue and
achieving break-even Adjusted EBITDA1 for 2014 as a whole. While we
are clearly disappointed with the negative impact of these timing
issues, the cost to rectify the supplier material delays will not
be significant. In addition, there has been no fundamental
change in the Company's long-term outlook. We anticipate strong
growth in Power-to-Gas applications and utility-scale power
generation fuel cell projects in the coming year."
Notes:
1. Adjusted EBITDA is defined as net loss excluding stock
based compensation (both cash settled long term compensation
indexed to share price and share based compensation), other finance
income and expenses, depreciation and amortization. These items are
considered by management to be outside of Hydrogenics' ongoing
operational results. Adjusted EBITDA is a non-IFRS measure and
may not be comparable to similar measures used by other
companies.
About Hydrogenics
Hydrogenics Corporation is a world leader in engineering and
building the technologies required to enable the acceleration of a
global power shift. Headquartered in Mississauga, Ontario,
Hydrogenics provides hydrogen generation, energy storage and
hydrogen power modules to its customers and partners around the
world. Hydrogenics has manufacturing sites in Germany, Belgium and
Canada and service centers in Russia, Europe, the US and
Canada.
Forward-looking Statements
This release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995, and under applicable
Canadian securities law. These statements are based on management's
current expectations and actual results may differ from these
forward-looking statements due to numerous factors, including: our
inability to increase our revenues or raise additional funding to
continue operations, execute our business plan, or to grow our
business; inability to address a slow return to economic growth,
and its impact on our business, results of operations and
consolidated financial condition; our limited operating history;
inability to implement our business strategy; fluctuations in our
quarterly results; failure to maintain our customer base that
generates the majority of our revenues; currency fluctuations;
failure to maintain sufficient insurance coverage; changes in value
of our goodwill; failure of a significant market to develop for our
products; failure of hydrogen being readily available on a
cost-effective basis; changes in government policies and
regulations; failure of uniform codes and standards for hydrogen
fuelled vehicles and related infrastructure to develop; liability
for environmental damages resulting from our research, development
or manufacturing operations; failure to compete with other
developers and manufacturers of products in our industry; failure
to compete with developers and manufacturers of traditional and
alternative technologies; failure to develop partnerships with
original equipment manufacturers, governments, systems integrators
and other third parties; inability to obtain sufficient materials
and components for our products from suppliers; failure to manage
expansion of our operations; failure to manage foreign sales and
operations; failure to recruit, train and retain key management
personnel; inability to integrate acquisitions; failure to develop
adequate manufacturing processes and capabilities; failure to
complete the development of commercially viable products; failure
to produce cost-competitive products; failure or delay in field
testing of our products; failure to produce products free of
defects or errors; inability to adapt to technological advances or
new codes and standards; failure to protect our intellectual
property; our involvement in intellectual property litigation;
exposure to product liability claims; failure to meet rules
regarding passive foreign investment companies; actions of our
significant and principal shareholders; dilution as a result of
significant issuances of our common shares and preferred shares;
inability of US investors to enforce US civil liability judgments
against us; volatility of our common share price; and dilution as a
result of the exercise of options; and failure to meet continued
listing requirements of Nasdaq. Readers should not place undue
reliance on Hydrogenics' forward-looking statements. Investors are
encouraged to review the section captioned "Risk Factors" in
Hydrogenics' regulatory filings with the Canadian securities
regulatory authorities and the US Securities and Exchange
Commission for a more complete discussion of factors that could
affect Hydrogenics' future performance. Furthermore, the
forward-looking statements contained herein are made as of the date
of this release, and Hydrogenics undertakes no obligations to
revise or update any forward-looking statements in order to reflect
events or circumstances that may arise after the date of this
release, unless otherwise required by law. The forward-looking
statements contained in this release are expressly qualified by
this.
CONTACT: Hydrogenics Contacts:
Chris Witty
Hydrogenics Investor Relations
(646) 438-9385
cwitty@darrowir.com
Bob Motz, Chief Financial Officer
Hydrogenics Corporation
(905) 361-3660
investors@hydrogenics.com
iShares iBoxx Dollar Hig... (AMEX:HYG)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
iShares iBoxx Dollar Hig... (AMEX:HYG)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024