Wellington Drive affirms annual guidance after lifting 1st-qtr sales 33%

Tue, 09 Apr 2019

By Rebecca Howard April 10 (BusinessDesk) - Wellington Drive Technologies reported first-quarter revenue growth of 33 percent but maintained its annual guidance, stating the outlook for the second half is unclear and potentially weaker. The company, which began as a developer of energy-efficient motors and has since expanded into areas as diverse as the internet of things and retail food and beverage, said revenue in the three months to March 31 was $15.8 million versus $11.9 million in the same period a year earlier. Earnings before i...

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