Brief: Synalloy Updates Full Year 2019 Guidance
19/06/2019 19:44
June 19 (Reuters) - Synalloy Corp SYNL.O :
* SYNALLOY UPDATES FULL YEAR 2019 GUIDANCE
* SEES FY 2019 SALES $329 MILLION
* ADJUSTED EBITDA FOR YEAR IS ESTIMATED AT $22 MILLION, DOWN
FROM
PRIOR FORECAST OF $30 MILLION
* SYNALLOY - FY 2019 ADJUSTED EBITDA GUIDANCE REFLECTS
INVENTORY
PRICE CHANGE LOSSES, NEGATIVE MANUFACTURING VARIANCES PROJECTED
TO TOTAL ABOUT $5 MILLION
* SYNALLOY - SINCE LETTER DATED MAY 29, 2019, EXECUTIVE
COMMITTEE
OF CO'S BOARD HAS BEEN IN CONTACT WITH REPRESENTATIVES OF PRIVET
FUND
* PRIVET FUND PRIVET HAS REQUESTED ADDITIONAL DILIGENCE
INFORMATION, WHICH CO WILL BE PROVIDING IN A DATA ROOM LATER
THIS WEEK
Source text for Eikon: urn:newsml:reuters.com:*:nGNX6QSWDG
Further company coverage: SYNL.O
((Reuters.Briefs@thomsonreuters.com;))