Wellington Drive lifts 3rd-qtr sales 25%, affirms annual guidance

Wed, 26 Oct 2016

By Paul McBeth Oct. 27 (BusinessDesk) - Wellington Drive Technologies, which makes energy efficient motors for commercial refrigerators, lifted third-quarter revenue 25 percent and is still targeting positive earnings for the year. Revenue rose to $6.3 million in the three months ended Sept. 30 from $5.1 million a year earlier, the Auckland-based company said in a statement. Adjusted earnings before interest, tax, depreciation and amortisation was a loss of $427,000 in the quarter, smaller than the $607,000 ebitda loss reported a year ea...

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