Valence boosts fiscal 1Q revenue guidance

Valence Technology raises fiscal 1st-qtr revenue outlook, cites increased shipments

Associated Press

AUSTIN, Texas (AP) -- Battery maker Valence Technology Inc. raised its fiscal first-quarter revenue guidance Monday, mainly because of significant shipments to an electric vehicle company.The company said that in addition to the shipments to Smith Electric Vehicles, it continues to see strong orders from both new and existing customers.Valence said it expects to post fiscal first-quarter revenue of $13.5 million to $14 million, up from its previous prediction of $8.5 million to $10.5 million.The news sent Valence shares up 8 cents, or 7.8 percent, to $1.11 in morning trading.Valence plans to release its first-quarter results Aug. 3.

View Comments (0)