Brief: I-Tech Q1 Operating Loss Narrows To SEK 1.0 Million

I-Tech AB

08/05/2020 07:37

May 8 (Reuters) - I-Tech AB  ITECH.ST :
    * I-TECH AB (PUBL) INTERIM REPORT Q1 2020
    * Q1 NET TURNOVER FOR PERIOD AMOUNTED TO KSEK 13 525 (6 170)
    * Q1 OPERATING LOSS SEK 1.0 MILLION VERSUS LOSS SEK 4.4
MILLION
YEAR AGO
    * IN BEGINNING OF YEAR, COVID-19 PANDEMIC LED TO A TEMPORARY
PRODUCTION STOP AT SHIPYARDS, PRIMARILY IN CHINA, WHICH ARE NOW
BACK IN PRODUCTION
    * PRODUCTION STOPPAGE AT SHIPYARDS OCCURRED DURING A PERIOD
OF
NORMAL LOW DEMAND FOR I-TECH'S PRODUCTS
    * SO FAR HAS NOT BEEN NEGATIVELY AFFECTED BY COVID-19
BESIDES AN
INCREASE IN DELIVERY COST

Source text for Eikon:  ID:nWkr85bCb0 
Further company coverage:  ITECH.ST 

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