StockMarketWire.com - Clean water technology company Mycelx Technologies Corporation downgraded its annual guidance, citing delayed project bids.

Revenue for 2019 was now expected at around $20m, the company said.

Ebitda would be around $2.5m and net profit around $0.5m.

'The company experienced a strong first quarter in 2019 but is facing delays in previously anticipated project bids,' Mycelx said.

'A significant number of these have either moved to 2020 or the start date has been delayed to later this year.'

'Historically, Mycelx has been more active on project bids in the second half of the year, particularly in the Middle East, and therefore expects activity to improve in the second half of 2019.




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