Brief: Atomos Ltd Says Withdrawing Financial Guidance For FY23

Atomos

04/12/2022 22:43

Dec 5 (Reuters) - Atomos Ltd  AMS.AX :
    * HAS TAKEN A CONSERVATIVE APPROACH AND IS WITHDRAWING
FINANCIAL
GUIDANCE
    * NEW INITIATIVES COULD RESULT IN SECOND HALF FY23 SALES
CONSISTENT WITH PREVIOUS HIGHS HOWEVER IT IS TOO EARLY TO
DETERMINE WITH CONFIDENCE
    * COST MANAGEMENT INITIATIVES RESULTING IN FIXED ANNUAL COST
BASE
BEING REDUCED BY APPROXIMATELY 30% BY END OF FY23
    * INITIATIVES WILL RESULT IN BREAKEVEN POINT FOR BUSINESS
REDUCING
TO ABOUT A$60M OF ANNUAL SALES
    * ASSESSING SEVERAL OPTIONS TO COMMERCIALISE ITS SENSOR
TECHNOLOGY
INCLUDING LICENCING, JV ARRANGEMENT, OR OUTRIGHT SALE

Source text for Eikon:  ID:nASXcgkXcj 
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