Brief: SmileDirectClub Announces Strategic Actions To Increase Profitability

SmileDirectClub

24/01/2022 21:27

Jan 24 (Reuters) - SmileDirectClub Inc  SDC.O :
    * SMILEDIRECTCLUB ANNOUNCES STRATEGIC ACTIONS TO INCREASE
PROFITABILITY
    * AFFIRMS PREVIOUSLY ISSUED REVENUE GUIDANCE FOR FULL YEAR
2021
    * COST REDUCTIONS TO RIGHT SIZE OPERATING STRUCTURE AND
FOCUS
INVESTMENTS ON CORE GROWTH INITIATIVES
    * COMPANY AFFIRMS PREVIOUSLY ISSUED REVENUE GUIDANCE FOR
FULL YEAR
2021
    * ANTICIPATES ONE-TIME REORGANIZATION COSTS BETWEEN Q4 2021
AND
2022 OF APPROXIMATELY $25 MILLION
    * SMILEDIRECTCLUB - CO ANNOUNCED IT HAS SUSPENDED OPERATIONS
IN
MEXICO, SPAIN, GERMANY, NETHERLANDS, AUSTRIA, HONG KONG,
SINGAPORE AND NEW ZEALAND
    * ESTIMATES YEAR-OVER-YEAR COST AND CAPITAL SAVINGS
ASSOCIATED
WITH THESE ACTIONS TO BE APPROXIMATELY $120 MILLION IN 2022
    * WILL CONTINUE TO OPERATE IN AND SCALE ITS PRESENCE IN
UNITED
STATES, CANADA, UNITED KINGDOM, IRELAND, FRANCE AND AUSTRALIA
    * FY2021 REVENUE VIEW $640.6 MILLION -- REFINITIV IBES DATA
    * EXPANSION INTO NEW INTERNATIONAL MARKETS WILL BE PAUSED

Source text for Eikon:  ID:nGNX3RJSLf 
Further company coverage:  SDC.O 

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