Windar Photonics' revenues hit by slow start in Asia

Windar Photonics' (LON:WPHO) revenues will be lower than expected this year due to a slow start in the Asian wind turbine retrofit market. The company has developed a laser guided tool that makes wind turbines run more efficiently but has experienced delays expanding and educating its installation team in Asia. Windar has bolstered is presence on the continent with a new Shanghai office, a move that it expects to resolve the problem, but not this year and 2015 will see a material revenue shortfall from Asia compared to expectations, it warned. Sales in the rest of the world are in line with expectations, though sales and losses in 2015 overall will be materially affected by Asia. Windar Photonics recently received its first order for a new integrated control system US company IQ Innovations and a first test order from a European turbine manufacturer for a newly developed 4-beam laser guided unit. The new 4-beam unit not only measures wind speed and direction but also wind shear, which is particularly relevant for the larger wattage turbines that can come under considerable loads in certain winds. Windar does not expect the two new products to contribute much in 2015, but will help underpin revenues in 2016.