28th Jan 2014 08:31
LONDON (Alliance News) - Clean energy company Acta SpA Tuesday said it expects to report revenues of more than EUR400,000 for 2013, well up on the EUR233,000 it reported for 2012, but it said sales conversions had been slower that it had forecast.
In a statement, the company said it expects to report an operating loss of about EUR1.2 million, including the share option cost reversal of EUR2.4 million that it had already flagged.
It said it will end the year with cash of EUR2.1 million.
Acta said it is further expanding its production facility, targeting capacity of 40 power units a month for the second half of this year.
The company has sold five Acta Power units, but larger network evaluations of its power system are currently under negotiation. It expects initial network installations to be typically 50 to 150 units per customer network. It also expects to get the first telco approved product certifications for Acta Power early in the second quarter, with network evaluations following shortly afterwards.
Acta said it expects to report its full 2013 results March 26.
Its shares were down 13.2% at 6.835 pence early Tuesday, the second-biggest decline on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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