Brief: Addvantage Technologies Announces Cost-Reduction Initiative, Designed To Align Expenses With Growing 5-G Demand

ADDvantage Technologies

17/03/2022 13:41

March 17 (Reuters) - ADDvantage Technologies Group Inc
 AEY.O :
    * ADDVANTAGE TECHNOLOGIES ANNOUNCES COST-REDUCTION
INITIATIVE,
DESIGNED TO ALIGN EXPENSES WITH GROWING 5-G DEMAND
    * ADDVANTAGE TECHNOLOGIES - HAS TAKEN ACTION, STARTING IN
MARCH,
TO REDUCE ANNUAL OPERATING, GENERAL, ADMINISTRATIVE EXPENSES FOR
FULTON TECHNOLOGIES
    * ADDVANTAGE TECHNOLOGIES - EXPECTS BENEFIT OF
COST-REDUCTION
ACTIONS TO REDUCE FIXED COSTS BY ABOUT $2.4 MILLION ON ANNUAL
BASIS
    * ADDVANTAGE TECHNOLOGIES - REDUCTIONS AT FULTON
TECHNOLOGIES ARE
ABOUT 60% HEADCOUNT-RELATED AND 40% EXTERNAL OVERHEAD AND
OPERATING EXPENSES

Source text for Eikon:  ID:nGNXcbxXZH 
Further company coverage:  AEY.O 

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