Energy Mad posts wider-than-expected annual loss of $2.5 million after bulb delays crimp sales

Energy Mad posts wider-than-expected annual loss of $2.5 million after bulb delays crimp sales
By Tina Morrison May 28 (BusinessDesk) – Energy Mad, which has twice downgraded its 2013 earnings expectations, today posted a wider-than-expected loss of $2.5 million after design, manufacturing and production problems crimped sales. Energy Mad, which listed in late 2011, had forecast a $4 million profit for the year ended March 31 in its prospectus. The company subsequently lowered its forecast twice, most recently in February when it predicted a loss of $1.1 million. The Christchurch-based company also posted a loss in 2012 against a fore...