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UPDATE: Ballard Power Systems Up 4% as Reports Q2 Results, Provides 2011 Business Outlook

Ballard Power Systems (BLD.TO) announced its consolidated financial results for the second quarter ended June 30, 2011. In its 2011 Business Outlook, Ballard confirmed its full-year guidance for revenue growth in excess of 30%. "As previously noted, the company expects revenue to be weighted toward second half of the year, with growth driven by accelerating momentum in all four Fuel Cell Product markets, particularly bus," it said. Ballard also confirmed its full-year guidance for Adjusted EBITDA improvement in excess of 40%. "This improvement trajectory is expected to be supported by the revenue growth outlined above, a shift in mix toward higher margin products and continuing reductions in both product costs and cash operating cost base."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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