Remark Holdings: Falls as revenue hit by project completion snags in China

Remark Holdings

07/07/2020 11:51

** Shares of artificial intelligence-based software provider
 MARK.O  slide 18% premarket to $2.12 
    ** MARK's Q1 rev more than halved to $400,000 from $1.2 mln
a year earlier  urn:newsml:reuters.com:*:nPn652dFwa
    ** Co says U.S.-China trade war, COVID-19-related
quarantines and working capital constraints were among factors
which hit results as personnel in China could not continue
project roll outs 
    ** Advertising and Other rev fell by nearly $0.7 mln, partly
due to non-renewal of some Remark Entertainment contracts as co
scaled back such business - MARK
    ** Net loss from Cont Ops narrowed to 5 cents per share vs.
20 cents a year earlier as co reduced headcount and related
expenses
    ** Stock up more than five-fold YTD, as of last close 
    

 (Reporting by Taru Jain)
 ((taru.jain@thomsonreuters.com))