HaloSource Inc Trading Statement (7351I)
December 11 2015 - 1:00AM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 7351I
HaloSource Inc
11 December 2015
11 December 2015
HaloSource, Inc.
("HaloSource" or the "Company")
Trading Update
HaloSource, Inc. (HAL.LN, HALO.LN), the global clean water
technology solutions company trading on London's AIM, today
announces that, further to our announcement of 20 November 2015,
the Company has successfully resumed full production at our
Drinking Water facility in China and is now actively fulfilling
customer orders. This follows an extended shutdown of our Drinking
Water facility due to unexpected operational challenges in relation
to the production of cartridges as we increased manufacturing
capacity.
Whilst we now have installed increased manufacturing capacity to
meet existing and future market demand, the shutdown of the
facility has resulted in a further delay in orders that were
previously expected to be delivered in 2015. The majority, if not
all, of these orders are now expected to be shipped in the first
quarter of 2016. Accordingly, we now expect that Drinking Water
revenues for the second half will be lower than previously
anticipated. As a result, we expect total consolidated revenues for
the year ending 31 December 2015 to be materially lower than
current market expectations and in the range of $18 million to $19
million, resulting in the net loss for the full year being
consequentially higher than market expectations and net cash being
approximately $4 million at the year-end. The Company is exploring
opportunities to strengthen its balance sheet and improve cash
generation.
We expect a strong 2016 as market demand for our class leading
HaloPure Drinking Water technology continues to increase in the
fast-growing point-of-use drinking water segment and we look to
grow the number of customers who will deploy our technology in
their water purification systems.
Enquiries:
HaloSource, Inc.
Martin Coles, Chief Executive via Newgate below
Officer
James Thompson, Chief Financial
Officer
Susan Brown, Director Corporate
Communications
Newgate (PR Adviser)
James Benjamin +44 20 7680 6550
Alex Shilov halosource@newgatecomms.com
Lydia Thompson
Liberum Capital (NOMAD and Joint
Broker)
Richard Bootle
Jill Li
Steve Pearce +44 203 100 2222
Allenby Capital (Joint Broker)
Chris Crawford
Kat Perez +44 203 328 5656
About HaloSource
HaloSource, Inc. creates innovative solutions for water
purification that serve people, preserve the planet and protect our
most valuable resource. The Company works with scientists and
industry experts across the globe in search of new ways to improve
water quality and has been awarded more than 70 patents for its
ground breaking chemistries, which provide effective and
environmentally responsible solutions to the growing issue of water
stress.
Founded in Seattle, Washington, HaloSource has grown to become
an influential leader in three market segments: drinking water,
recreational water, and environmental water treatment and
remediation. HaloSource is headquartered in the US with operations
in China and in India. Learn more about the Company's research and
development and future cutting edge technologies by visiting
www.halosource.com.
HaloKlear, HaloPure, and SeaKlear are either trademarks or
registered trademarks of HaloSource, Inc. All other trademarks,
brand names or product names belong to their respective
holders.
This document contains certain forward-looking statements
relating to the Company. The Company considers any statements that
are not historical facts as "forward-looking statements". They
relate to events and trends that are subject to risk and
uncertainty that may cause actual results and the financial
performance of the Company to differ materially from those
contained in any forward-looking statement. These statements are
made by management in good faith based on information available to
them and such statements should be treated with caution due to the
inherent uncertainties, including both economic and business risk
factors, underlying any such forward-looking information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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