Crystal-growing equipment specialist, PVA TePla has lowered its sales forecast for the year after experiencing a delay in a PV equipment order processing.
The company said that according to the percentage-of-completion (PoC) method in line with IFRS accounting standards, the order was originally expected to be booked as sales revenue in the fourth quarter of 2013. However, this has now been delayed to sometime in 2014.
As a result, PVA TePla has lowered its 2013 revenue forecast to between €60 million – €65 million, compared to previous guidance of €75 million to €85 million.
The company said that it expected to generate a loss for the year of between €9 million – €10 million, compared to a slight profit.
However, business projections for 2014 would seem to be improving for the equipment supplier as it noted that it expected revenue to be in the range of €90 million-100 million. The company said that its order backlog already accounted for 60% of expected sales revenue in 2014.