20th Nov 2015 07:39
LONDON (Alliance News) - HaloSource Inc on Friday warned it will post a net loss for 2015 higher than market expectations as a result of delays in some customer rollouts and some operational challenges.
The clean water technology company said operational challenges had arisen as it increased manufacturing capacity at its drinking water facility in China, which has temporarily hit its ability to fulfil customer orders and subsequently will reduce its revenue in this segment in the second half of 2015.
HaloSource said that as a result its total revenue for 2015 will be "materially lower" than market expectations. However, it said it is confident that production delays "will in no way impact" marketplace demand for its HaloPure disinfection technology in 2016 and beyond.
Despite this warning, the company reiterated confidence in its strategy and growth opportunities. It cited new product launches with partners like Panasonic Corp in India, a new national partner in China using its technology in its reverse osmosis systems, an improved operating performance in its Recreational Water business, and optimisation in its production and sales coverage in its Environmental Water segment.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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