Enova Warns of Slower Business

0

Shares of Enova Systems Inc. fell after the company said it expect to expects orders for its electric vehicle drive systems from a major customer in the United Kingdom to drop “significantly” this year and next.

Ennova, based in Torrance, had expected to supply Tanfield Group Plc with at least 1,000 drive units in 2008, but only 144 have been delivered so far this year, the company said in a Tuesday news release.

The component maker had forecast supplying as many as 3,000 units to the U.S. manufacturer next year.

Enova shares dropped 54 cents, or 17 percent, to $2.60 in midday trading Tuesday on the Amex.

No posts to display