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News Breaks
June 27, 2013
17:33 EDTCDTICDTi announces registered public offering of common stock and warrants
News For CDTI From The Last 14 Days
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October 21, 2014
08:07 EDTCDTICDTi reports preliminary Q3 revenue from cont. ops. $9.3M, consensus 11.6M.
The company said that the lower revenue was largely due to a sharp downturn in retrofit demand at a time when DuraFit sales had not yet begun to ramp. As a result, the company expects to report a third quarter operating loss from continuing operations of between $2M-$2.5M, including $0.8M related to severance and charges. The standard exhaust and specialty parts business will be classified as assets held for sale and discontinued operations in CDTi's financial statements.
08:06 EDTCDTICDTi sells standard exhaust, specialty parts busines assets for $1.3M
Clean Diesel Technologies sold substantially all of the assets of its Reno, Nevada-based standard exhaust and specialty parts business on October 20 for approximately $1.3M in cash, subject to certain working capital adjustments. In addition to DuraFit, the company anticipates demand for retrofit products will be stronger in Q4, but that demand will tail off in succeeding quarters. In response to the slowdown in its retrofit business, the company has streamlined its staffing to better align its cost structure with the anticipated softening demand. Combined with measures taken earlier in the quarter, which included consolidation of various staff positions and relocating its corporate office with existing operations in Oxnard, California, these actions will result in an estimated annual reduction in manufacturing and operating expense of approximately $1.2M..

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