Brief: Q-Free: Operational And Financial Impact Of The Corona Virus Outbreak

Q-Free ASA

01/04/2020 09:06

April 1 (Reuters) - Q-Free ASA  QFR.OL :
    * Q-FREE ASA (QFR): OPERATIONAL AND FINANCIAL IMPACT OF THE
CORONA
VIRUS OUTBREAK
    * TEMPORARY CAPACITY REDUCTION AT OUR MANUFACTURING SITE FOR
INFOMOBILITY PRODUCTS IN UK DUE TO LOCAL QUARANTINE RULES.
    * EXTRAORDINARY CURRENCY EXCHANGE RATES THAT INFLUENCE OUR
COST
BASE NEGATIVELY
    * DELAYED TAG PURCHASES AND ORDERS FOR SMALLER PRODUCT
DELIVERIES
    * DELAYED DECISION PROCESSES RELATED TO NEW TENDERS AND
CONTRACT
AWARDS
    * IT IS IMPOSSIBLE TO PREDICT MAGNITUDE AT THIS STAGE,
    * EXPECTS A TEMPORARY NEGATIVE FINANCIAL IMPACT FROM CORONA
VIRUS
CRISIS
    * SOME EMPLOYEES HAVE BEEN PERMANENTLY OR TEMPORARILY LAID
OFF
    * QREMAINING EMPLOYEES HAVE AGREED TO A TEMPORARY SALARY
REDUCTION
DURING THESE CHALLENGING TIMES.
    * LIQUIDITY IS CURRENTLY TIGHT BUT DOES NOT HAVE A
SIGNIFICANT
NEGATIVE IMPACT ON DAY-TO-DAY OPERATIONS

Source text for Eikon:  ID:nWkr4KCPbP 
Further company coverage:  QFR.OL 

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