27 Feb 2013

Earnings downgrade by lightbulb maker

1:34 pm on 27 February 2013

Energy Mad has downgraded its earnings again.

The energy efficient lightbulb maker Energy Mad is forecasting a loss of $1.1 million because of delays in securing another large order in the United States.

Revenue is expected to be $9.8 million, which Energy Mad says is 58% above the previous year's sales.

Meanwhile, chief financial officer Paul Ravlich will become chief executive.