Wellington Drive misses 2017 revenue, earnings guidance but hopeful for year ahead

Fri, 26 Jan 2018

By Sophie Boot Jan. 26 (BusinessDesk) - Wellington Drive Technologies says it won't meet 2017 earnings guidance after disappointing revenue in the fourth quarter, and has some supply concerns but remains positive about 2018. The Auckland-based company, which makes energy efficient motors for commercial refrigerators, previously downgraded annual revenue growth guidance after a weaker third quarter to the lower end of, or possibly below, a 25 percent to 35 percent range. It said today it had seen growth of 22.6 percent. Earnings before int...

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