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Electrovaya Q3 Net Earnings Fall 66%

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Electrovaya (ELVA.TO) said Monday after-trade its fiscal third-quarter net earnings fell 66% to $0.3 million, from $0.9 million, in the prior year period.

The manufacturer of lithium-ion batteries did not provide per share amounts.

Revenue for the quarter ended June 30 edged up 3% year over year to $17.7 million. Analysts polled by FactSet had expected $21.4 million. Chief executive Raj Das Gupta said revenue was affected by delays in some customer programs, including $5 million of high-voltage systems that are now expected to be delivered early in fiscal 2027.

Electrovaya now expects fiscal 2026 normalized revenue of between $70 million to $73 million.

Electrovaya shares closed down C$0.66 to C$12.92 on the Toronto Stock Exchange.

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