Brief: LS telcom cuts sales and earnings forecast for 2016/2017

LS telcom AG

30/10/2017 14:54

Oct 30 (Reuters) - LS TELCOM AG  LSXG.DE  
    * SALES AND EARNINGS FOR 2016/2017 ARE EXPECTED TO BE WELL 
BELOW 
THE DOWNWARD REVISED EXPECTATIONS 
    * SEES REVENUE OF AROUND EUR 27.6 MILLION AND NET LOSS OF 
ABOUT 
EUR 4.6 MILLION FOR FY 
    * TURNOVER OF EUR 22.7 MILLION SHOULD ALREADY BE HEDGED FOR 
THE 
CURRENT FINANCIAL YEAR 2017/2018 
    * SEES REVENUE OF MORE THAN EUR 34 MILLION AND NET PROFIT OF 
AT 
LEAST EUR 1 MILLION IN 2017/2018 
    * DECIDED ON COST-REDUCTION PACKAGE WHICH WILL BE GRADUALLY 
IMPLEMENTED IN COURSE OF FISCAL YEAR 2017/2018 
    * COST-REDUCTION PACKAGE WILL RESULT IN ANNUAL SAVINGS OF 
APPROXIMATELY EUR 1 MILLION FROM 2018/19 BEGINNING 
 
Source text for Eikon:  ID:nEQ59lPkSa  
Further company coverage:  LSXG.DE  
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))