MISSISSAUGA, Ontario, April 4, 2014 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (Nasdaq:HYGS) (TSX:HYG), ("Hydrogenics" or "the Company") a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that customer-driven timing of deliveries have impacted revenue for the first quarter of 2014. Hydrogenics expects to realize between $7.0 and $7.5 million of revenue for the three months ended March 31, 2014. However, the Company re-iterates the previously announced 2014 outlook that it will exceed $50 million in revenue and will surpass break-even Adjusted EBITDA 1 for the year. This view is supported as follows:
- The Company finished 2013 with $57 million in backlog;
- Approximately $40 million of the current contracted backlog will be realized as revenue in calendar 2014; and
- Other sales pipeline opportunities closing into backlog in the first and second quarters will have revenue potential for the second half of 2014.
CONTACT: For further information, contact: Bob Motz, Chief Financial Officer (905) 361-3660 firstname.lastname@example.org Chris Witty Hydrogenics Investor Relations (646) 438-9385 email@example.com