Watching Stuart Energy for many reasons,SRNYF
Anyone interested in Li Ka Shing/China & Hydro Transportation should keep on watch.
Hydrogen fuel firm Stuart Energy expects to double third-quarter revenue
Updated at 13:51 on January 15, 2004, EST.
TORONTO (CP) - Stuart Energy Systems Corp. expects to double its quarterly revenue, mainly due to an acquisition in early 2003, the maker of filling stations for hydrogen-fuelled vehicles said Thursday.
For the fiscal third quarter ended Dec. 31, 2003, Stuart Energy said it expects to record sales of about $5.2 million, up 102 per cent from a year earlier and up 35 per cent from the second quarter.
The company's purchase of Vandenborre Technologies N.V. in February 2003 helped Stuart reach its sales objective of triple-digit growth. The expected sales would mark the company's fifth consecutive quarter of record sales revenue.
Stuart Energy also said Thursday it plans to make a public offering of common shares, but did not say how many would be offered, or when.
Shares in Stuart Energy Systems (TSX:HHO) traded up four cents Thursday at $3.72 on the Toronto stock market.
