Brief: Casa Systems Increases 2019 Revenue Guidance And Announces CFO Transition

Casa Systems

24/01/2020 12:18

Jan 24 (Reuters) - Casa Systems Inc  CASA.O :
    * REASES GAAP REVENUE GUIDANCE FOR FISCAL YEAR 2019 AND
ANNOUNCES
CFO TRANSITION
    * SEES FY 2019 REVENUE $275 MILLION TO $280 MILLION
    * RAISING ITS FISCAL YEAR 2019 GAAP REVENUE GUIDANCE RANGE
FROM
$255 MILLION TO $270 MILLION TO $275 MILLION TO $280 MILLION
    * MAURIZIO NICOLELLI, CHIEF FINANCIAL OFFICER, HAS NOTIFIED
COMPANY OF HIS INTENTION TO RESIGN
    * CASA SYSTEMS - NICOLELLI HAS AGREED TO ASSIST IN ORDERLY
TRANSITION OF HIS CFO RESPONSIBILITIES AND WILL REMAIN WITH
COMPANY UNTIL JANUARY 31, 2020
    * INTENDS TO RETAIN AN EXECUTIVE SEARCH FIRM AND INITIATE A
SEARCH
FOR A PERMANENT CFO
    * CASA SYSTEMS - ALSO EXPECTS TO MEET OR EXCEED ITS FY 2019
GUIDANCE FOR GROSS MARGIN, ADJUSTED EBITDA, & GAAP & NON-GAAP
DILUTED NET LOSS PER SHARE
    * BOARD OF DIRECTORS HAS APPOINTED SCOTT BRUCKNER AS INTERIM
CFO
UNTIL A PERMANENT CFO HAS BEEN APPOINTED
    * NICOLELLI'S RESIGNATION  TO PURSUE CFO OPPORTUNITY OUTSIDE
OF
COMMUNICATIONS TECHNOLOGY INDUSTRY
    * ANNOUNCED THAT IT IS RAISING ITS FISCAL YEAR 2019 GAAP
REVENUE
GUIDANCE RANGE FROM $255 MILLION TO $270 MILLION TO $275 MILLION
TO $280 MILLION
    * FY2019 REVENUE VIEW $261.0 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nGNX5Ktn8n 
Further company coverage:  CASA.O 

 ((Reuters.Briefs@thomsonreuters.com;))