Ballard Power revises 2012 guidance

Vancouver, Canada

The Company indicated in its February 22 press release that full-year guidance for 2012 implicated revenues of approximately $100 million and an adjusted EBITDA of approximately breakeven. At that time, the Company also indicated that the primary risk factor that could cause a variance to guidance related to "delays in terms of closing and shipping expected sales orders, primarily in our Brazilian and European bus markets."

In the Brazilian bus market, contract negotiations related to the LOI with the City of Sao Paolo signed in December 2011 have been more complex and are taking longer than originally anticipated. Ballard expects to gain greater certainty into this situation in the coming months and remains positive as to the outlook for sales of fuel cell bus modules in Brazil. However, given the delays and the reduced time remaining for shipments

Source: IWR Online, 20 Jun 2012