Hardide wins a $1.9 million production order for next-generation components

Hardide ($HDD-LSE) received its first production order for second-generation energy-sector components from an existing North American customer. The order is worth approximately $1.9 million, with delivery scheduled during the first two months of the company’s next financial year. Production will be divided equally between its UK and US facilities.

Existing orders for the first-generation components continue alongside the new program. Management expects further orders and anticipates the second-generation range becoming a larger part of the sales mix. Those expectations should be distinguished from the confirmed initial order. Hardide said the award is already included in the board’s expectations, so it is not a newly announced earnings upgrade. The customer was not identified, and the order value is not the same as the profit it will generate.

Sources:

• Hardide — second-generation component order