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Active Power retracts guidance following Chinese fiasco, shares -11.4% AH

  • Active (ACPW) says it won't hit its Q3 revenue and EPS targets, or its full-year revenue growth, adjusted EBITDA, and net income targets. The company blames weaker-than-expected Chinese sales caused by having a mistaken understanding of a Chinese distribution partnership. (PR)
  • Whereas Active previously announced it had struck a partnership with an IT services firm known as Digital China Information Service Company (a division of a Fortune China 100 firm), it actually struck a deal with Qiyuan Network System Limited, which is unaffiliated with Digital China.
  • CFO Steve Fife: "Our experience this year in China has been very disappointing and for now is unpredictable." Indeed.
  • Q3 results arrive on Oct. 29.
Comments (2)
  • tripleblack
    , contributor
    Comments (13442) | Send Message
     
    Shocked! I am SHOCKED I say!

     

    Why, who would imagine such a problem with "a Chinese distribution partnership"?

     

    Anyone?

     

    (Everyone?)
    5 Sep 2013, 08:43 PM Reply Like
  • thotdoc
    , contributor
    Comments (1417) | Send Message
     
    TB-good to see u over here.
    5 Sep 2013, 11:58 PM Reply Like
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