Kewaunee Scientific Corp: Falls to 6-yr low as Q2 results disappoints

Kewaunee Scientific

16/12/2019 15:41

** Shares of maker of laboratory, healthcare and technical
furniture products  KEQU.O  drop ~27% to a 6-yr low of $13.02 
    ** Stock among top pct. losers across U.S. exchanges; set
for its worst day in over 11 years, if losses hold
    ** Company posts Q2 loss, compared with profit a year
earlier; suspends dividend
    **  Q2 profitability hurt by higher operating costs in its
domestic segment and a number of low-margin orders secured over
the past year - KEQU  urn:newsml:reuters.com:*:nPn8m5Pd9a
    ** KEQU starts restructuring, including a reduction in
workforce; expects to take restructuring-related charge in FY
2020
    ** Including session's losses, stock down ~60% YTD

 (Reporting by Abhishek Manikandan in Bengaluru)
 ((Abhishek.Manikandan@thomsonreuters.com))