Phoenix Solar has amended its revenue expectations for its 2012 financial year with revenue expected to drop to between €150 and €170 million (US$194 to US$200 million) for the year.
Previous estimates by the company had its yearly consolidated revenue to range between €210 and €240 million (US$272 and US$310 million), but Phoenix Solar cited lower business volume and challenging sales in Eurozone countries leading it to re-evaluate its projected revenue earnings. The company did note that as a result of its restructuring, its loss before interest and taxes (EBIT) for the year will remain between €19 and €25 million (US$25 and US$32 million); a figure lower than 2011.
The company further pointed out that current accounting shows its consolidated revenues for the first nine months of 2012 to total around €125 million (US$162 million). It plans to review its outlook for 2013, but currently expects revenues for next year to range between €280 and €310 million (US$362 and US$400million) with an EBIT between €-5 to €0 million.
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