Wellington Drive narrows 3Q loss, forecasts 'modest' full year uplift

Fri, 05 Dec 2014

By Suze Metherell Dec. 5 (BusinessDesk) - Wellington Drive, the unprofitable manufacturer of energy efficient motors, narrowed its third quarter loss and revised guidance for a "modest level" of sales growth. The company posted a loss of $725,000 in the three months ended Sept. 30, narrowing from a loss of $969,000 in the same period a year earlier, it said in statement. Sales fell to $3.8 million from $4.7 million, while earnings before interest, tax, depreciation and amortisation was a smaller loss of $509,000 compared to a loss of $840...

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