CALGARY, July 18, 2012 /CNW/ - (TSX:HEM) Hemisphere GPS today issued
preliminary second quarter financial results along with its second
quarter reporting date and conference call details. The Company also
provided updated guidance for 2012.
Q2 Preliminary Results and 2012 Guidance
For its second quarter ended June 30, 2012, Hemisphere GPS expects to
report revenues of approximately US$19.5M. Stronger year-over-year
revenue growth in the second quarter in Canada and Asia were tempered
by slower sales in the US as a result of the significant drought
conditions impacting the US corn belt, Hemisphere GPS' largest sales
region. Ongoing political and economic issues in Europe and South
America also impaired year-over-year growth during the quarter.
Based on the impact of these conditions, Hemisphere GPS has lowered is
guidance for revenue growth in 2012 to 10%.
Q2 Conference Call Notice
Hemisphere GPS will release its second quarter financial results prior
to the open of trading on the Toronto Stock Exchange on August 1st 2012. A conference call and webcast for shareholders, analysts and
other members of the investment community has been scheduled the same
day at 11:00 a.m. Eastern Time (9:00 a.m. Mountain Time) to discuss the
financial results and provide an update on operations.
To participate in the conference call, please dial 1-647-427-7450 or
1-888-231-8191 approximately 10 minutes before the conference call and
provide conference ID 12337426. Please note that a live webcast of the
call will be available on the Hemisphere GPS Web site at http://www.hemispheregps.com. The webcast will be archived for later review.
A recording of the call will be available through August 8. Please dial
1-416-849-0833 or 1-855-859-2056 and enter passcode 12337426 to listen
to the rebroadcast.
About Hemisphere GPS
Hemisphere GPS designs and manufactures innovative, cost-effective GPS
(GNSS) products for positioning, guidance, and machine control
applications in agriculture, marine, survey, construction, and other markets. The Company holds numerous patents and other
intellectual property and owns several leading brand names, including Outback Guidance®, a leading brand in precision GPS for agriculture. The Company is
headquartered in Calgary, Alberta, with major product development,
sales, and marketing facilities in Arizona, Kansas, and Australia.
Hemisphere GPS is listed on the Toronto Stock Exchange (TSX) trading
under the symbol "HEM" and is one of the TSX Cleantech designated companies. For more
information about Hemisphere GPS, please go to www.hemispheregps.com.
The above disclosure contains certain forward-looking statements that
involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond Hemisphere GPS' control,
including: the impact of general economic conditions, industry
conditions, increased competition, the lack of availability of
qualified personnel or management, fluctuations in foreign exchange or
interest rates, stock market volatility and market valuations of
companies with respect to the announced transactions and the final
valuations thereof, and obtaining required approvals of regulatory
authorities. Hemisphere GPS' actual results, performance or achievement
could differ materially from those expressed in, or implied by these
forward-looking statements and, accordingly, no assurances can be given
that any of the events anticipated by the forward-looking statements
will transpire or occur, or if any of them do so, what benefits,
including the amount of proceed, that Hemisphere GPS will derive there
SOURCE Hemisphere GPS Inc.
For further information:
Chief Financial Officer
Hemisphere GPS Inc.
e.vestor Communications Inc.