Nov 14 (Reuters) - Azure Dynamics posted a wider third-quarter net loss on higher cost of sales, and the auto component maker said it expects revenue for the year to be at the lower-end of the forecast range.
July-September net loss rose to C$9.8 million, or 1 Canadian cent per share, from C$6.7 million, or 1 Canadian cent a share, a year ago.
Quarterly revenue rose nearly seven-fold to C$12.4 million, helped by improved performance at its European operations.
Azure expects revenue for the year to be at the lower end of C$38-C$45 million.
The company, which makes components for electric and hybrid electric vehicles, said tight municipal budgets will likely squeeze sales going forward. (Reporting by Gowri Jayakumar in Bangalore; Editing by Joyjeet Das)