IkeGPS misses positive cash flow target in March quarter on delayed order

Tue, 04 Apr 2017

By Paul McBeth April 5 (BusinessDesk) - IkeGPS missed a goal of positive cash flow in the March quarter after Stanley Black & Decker pushed out a large order of the laser measurement toolmaker's Stanley Smart Measure Pro products. Wellington-based ikeGPS shipped 30,500 units of the Stanley Smart Measure Pro units to Europe's building market in the year ended March 31, missing the latest projection of 39,500 when Stanley Black & Decker delayed an order for 9,000 units until the first-half of 2018, it said in a statement. That reduced the...

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