Energy efficient lightbulb maker Energy Mad warns its profit is likely to be as low as $100,000 due to setbacks to its sales amibitions in the US and Australia.
The company says its final 2013 financial result will be at the lower end of projections it gave in November when it said profit may vary from $100,000 to $2 million.
Energy Mad lost nearly $500,000 in the six months to September.
The company says there has been slower than expected growth in Australia, and delays to setting up dedicated displays of its bulbs in Walgreen stores in the United States will hold up sales there.
Energy Mad managing director Chris Mardon says the company has been forced to scale back its plans.
It expected to get bulbs on Walgreen displays faster than has happened and orders have been delayed.
The company has decided to be cautious about 12V eco-bulb production in Australia in the New Year and to ensure the product is exactly right before it ramps up its production, he said.
Energy Mad is working on cutting costs by $750,000 a year.
The company also raised $1 million from a share issue to SuperLife Investments to fund its growth.
