Wellington Drive beats 2H sales forecast, will meet earnings guidance

Thu, 14 Feb 2019

By Jenny Ruth Feb. 15 (BusinessDesk) - Wellington Drive Technologies says revenue rose 36 percent in calendar 2018 and it will deliver an operating profit as promised. Revenue in the fourth quarter of US$11.9 million was 43 percent higher than in the same quarter a year earlier, taking full-year revenue to US$41.8 million, or NZ$58.7 million. Wellington had said its second-half revenue would be consistent with its first-half revenue of NZ$28 million but second-half sales came in 9 percent higher at NZ$30.7 million, the company says in...

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