Postponed deliveries seen to cripple Hansen Transmissions revenue in FY 2010/2011
(ADPnews) - Oct 20, 2010 - Belgian gearboxes maker Hansen Transmissions International NV (LON:HSN) revised its revenue forecast for fiscal 2010/2011, and said it expected sales to fall 10% in annual terms, as it trimmed volume projections for the second half of the year due to changed customer delivery schedules.
In its previous guidance, the company projected a revenue growth of 5% to 10%.
In addition, the company said it had amended its banking covenants in a bid to keep its financial flexibility.
Hansen Transmissions will publish a full report for the first half to September 30 on October 28.