Identiv Inc: Plunges as forecast disappoints

INVE Technologies

31/01/2020 15:42

(Updates)
    ** Security technology firm's shares  INVE.O  extend
premarket losses, last down ~24% at $4.51
    ** Expects total Q4 rev to range between $18.7 mln and $18.8
mln, which is below Street estimates - Refinitiv data
    ** Company expects net loss of $2.1 million-$2.2 million in
the quarter compared to a profit a year earlier  urn:newsml:reuters.com:*:nGNXc5DtNk
    ** Also lowers 2020 revenue forecast
    ** INVE is also exploring strategic alternatives 
    ** Brokerage Lake Street Capital Markets says multiple
headwinds to have impacted company's Q4, and set to affect 2020
performance too
    ** "While we are disappointed with the new outlook and
expect the stock to get hit, we still believe in the company's
opportunities to drive growth in its markets longer-term" -
brokerage 
    ** Stock gained ~57% in 2019 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))