Ballard Power Systems Inc. announced that it will fall short of its guidance for 2014 revenue and adjusted earnings. The problem stems from alleged contract breaches by Azure Hydrogen, which was licensed to assemble Ballard products for the Chinese market. It has given notice that it's terminating two licensing agreements with Azure, one to assemble bus power modules and the other to assemble telecom backup power systems. The company says it won't recognize any of the $3 million in revenue it had expected to book from Azure in the fourth quarter and will record an impairment charge of $4.5 million from outstanding receivables owed by Azure.

In October it expected 2014 revenue to be 20% above the previous year, down from its previous guidance of 30% revenue growth.