LONDON (Thomson Financial) - Enova Systems Inc. posted a wider
second-quarter loss, as operating costs more than offset a 218 percent rise in
sales, and said quarterly revenues for the rest of 2008 may decline after an
order cancellation and change in customer strategy.
"Although we have seen indications for future production growth, there can
be no assurances there will be continuing demand for our products and services,"
the maker of electric, hybrid and fuel cell digital power management systems
added.
Th!nk Global cancelled an order and engineer Tanfield Group changed its
growth strategy.
For the three months to June 30, 2008, Enova's net loss widened to $2.95
million from $2.60 million a year earlier though revenue soared to $3.37 million
from $1.06 million. Operating expenses rose to $2.65 million from $1.90 million
TFN.newsdesk@thomson.com
jro/ajb
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