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Ballard to miss 2014 guidance

2015-01-02 17:38:58| Industrial Machines - Topix.net

Ballard Power Systems says it won't achieve its guidance for 2014 revenue and adjusted earnings as a result of alleged contract breaches by Azure Hydrogen, which was licensed to assemble Ballard products for the Chinese market. Ballard says it it won't recognize any of the $3 million in revenue that it had expected to book from Azure in the fourth quarter and will record an impairment charge of $4.5 million from outstanding receivables owed by Azure.

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Category:Industrial Goods and Services

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