New Energy Systems (NEWN) to Sell E'Jenie, NewPower Units for $13.4M; Offers Updated FY11 Outlook
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New Energy Systems (AMEX: NEWN) announced the finalization of the sale of its E'Jenie and NewPower battery and battery components business to a group of employees for $13.4 million.
After suspending guidance in August, the company updated the outlook for FY11: sees sales $75-$77 million, vs. the consensus (only one analyst covers the stock) of $100 million, sees adj-EPS of 41-48 cents.
After suspending guidance in August, the company updated the outlook for FY11: sees sales $75-$77 million, vs. the consensus (only one analyst covers the stock) of $100 million, sees adj-EPS of 41-48 cents.
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