OAK PARK, MI, May 10 /CNW/ - Azure Dynamics Corporation (TSX: AZD)(OTC:
AZDDF) ("Azure" or the "Company"), a world leader in the development
and production of hybrid electric and electric components and
powertrain systems for commercial vehicles, today announced that it
plans to release its first quarter 2011 earnings on Tuesday, June 14
after the financial markets close. Azure Dynamics will report its first
quarter 2011 results for the first time under International Financial
Reporting Standards (IFRS) which replaces Canadian Generally Accepted
Accounting Principles (GAAP) effective January 1, 2011 for all publicly
accountable enterprises in Canada.
A conference call is scheduled for 5:00 p.m. eastern daylight time the
same day. Interested listeners can access the call toll free at (877) 407-4134 and should call in at least 15 minutes before start time. Participants
from outside North America can participate in the call by dialing (201) 689-8430.
The Company anticipates that the adoption of IFRS will not have an
impact on the Company's strategy or operations. However, certain
elements of the Consolidated Statement of Financial Position and
results of operations will be determined differently from those that
were previously reported under Canadian GAAP. The CSA granted a 30-day
extension to those issuers filing their first IFRS interim financial
report, which means companies will have until June 14, 2011 to report
results for the three-month period ended March 31, 2011.
Azure's earnings release and an accompanying presentation will be posted
to the Company's website, www.azuredynamics.com, immediately prior to the call. For those unable to participate in the
live conference, a call replay will be posted on Azure's website
following the call no later than June 15, 2011.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world leader in
the development and production of hybrid electric and electric
components and powertrain systems for commercial vehicles. Azure is
strategically targeting the commercial delivery vehicle and shuttle bus
markets and is currently working internationally with a variety of
partners and customers. The Company is committed to providing customers
and partners with innovative, cost-efficient, and
environmentally-friendly energy management solutions. For more
information on how Azure Dynamics products are Driving a World of
Difference, please visit www.azuredynamics.com.
The TSX Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements Advisory
Certain information included in this press release constitutes
forward-looking statements and information and future-oriented financial information under applicable
securities legislation and is provided for the purpose of expressing management's current expectations
and plans for the future. Readers are cautioned that reliance on such information may not be
appropriate for other purposes, such as making investment decisions.
More particularly, this press release contains statements concerning
Azure's anticipated fourth quarter and year-end earnings release and conference call. The forward-looking
statements are based on a number of key expectations and assumptions made by Azure, including
expectations and assumptions concerning achievement of current timetables. Although Azure believes
that the expectations and assumptions used to develop the forward-looking statements are
reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give
no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions,
by their very nature they involve numerous risks and uncertainties that contribute to the
possibility that the projections and forecasts in the forward-looking statements will not occur and that
actual performance or results could differ materially from those anticipated in the forward-looking
statements. Additional information on these risks and other factors that could affect Azure's operations and
financial results are included in reports on file with the Canadian securities regulatory authorities and
can be accessed through the SEDAR website at www.sedar.com.
The forward-looking statements contained in this press release are made
as of the date hereof and Azure undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws. Additionally, Azure undertakes no obligation
to comment on the expectations of, or statements made by, third parties about Azure.
SOURCE Azure Dynamics Corporation
For further information:
Juris Pagrabs, Vice President, Investor Relations, (248) 298-2403 ext 7570
Patrick Liebler, Liebler Group, 248-229-4418