Australia's Atomos hits record low on withdrawing forecast

Atomos

05/12/2022 01:04

** Shares of Atomos Ltd  AMS.AX  fall as much as 18.2% to an
all-time low of A$0.072 per share 
    ** Video technology co says it is withdrawing financial
guidance for FY23  urn:newsml:reuters.com:*:nASX9KDPfv
    ** Shares of co set for worst day since Oct 20, if losses
hold
    ** Says Black Friday sales, which are a material contributor
to first-half sales, were below co's expectations 
    ** Says co to focus on cost management initiatives which
will reduce fixed annual cost base by about 30% by the end of
FY23 
    ** Shares of co are down 90.6% YTD as of last close 
($1 = 1.4669 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))