Brief: AstroNova Reports Q4 Loss Per Share Of $0.19

AstroNova

12/03/2020 13:43

March 12 (Reuters) - AstroNova Inc  ALOT.O :
    * ASTRONOVA ANNOUNCES FINANCIAL RESULTS FOR FOURTH-QUARTER
AND
FULL-YEAR FISCAL 2020
    * Q4 LOSS PER SHARE $0.19
    * Q4 REVENUE $30.5 MILLION VERSUS $37.2 MILLION
    * ASTRONOVA - DUE TO NEAR-TERM INDUSTRY DYNAMICS, NOTABLY
BOEING
737 MAX PRODUCTION HALT, HAVE TAKEN ACTIONS TO BRING COSTS IN
LINE WITH CURRENT MARKET ENVIRONMENT
    * ASTRONOVA - IMPLEMENTED 5% HEADCOUNT REDUCTION & OTHER
INITIATIVES, EXPECT TO RESULT IN AN ANNUALIZED EXPENSE SAVINGS
OF $1.5 MILLION TO $2.0 MILLION
    * ASTRONOVA - HAVE MADE SOME ADDITIONAL CHANGES TO SALES
MANAGEMENT STRUCTURE, EXPECT WILL RESULT IN MORE EFFICIENT &
EFFECTIVE GLOBAL SALES PROCESSES
    * "BELIEVE COST-CUTTING MEASURES POSITION US FOR A RETURN TO
PROFITABILITY AS WE MOVE FORWARD IN FISCAL 2021"
    * ADDITIONAL DELAYS IN 737 MAX RETURN TO SERVICE WILL
NEGATIVELY
IMPACT NEARER TERM RESULTS
    * ASTRONOVA - ALSO CLOSELY MONITORING COVID-19 VIRAL
OUTBREAK FOR
POTENTIAL IMPACTS ON CUSTOMER DEMAND AND OUR SUPPLY CHAIN

Source text for Eikon:  ID:nBw5cbyP6a 
Further company coverage:  ALOT.O 

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