Brief: SMART sees weaker-than-anticipated fiscal 2016

Standard Mercantile Acquisition

09/10/2015 13:30

Oct 9 (Reuters) - SMART Technologies Inc  SMA.TO : 
 * Updates financial outlook and announces strategic review 
 * Says sales from smart kapp are growing at a slower rate than originally 
   envisaged 
 * Says outlook for fiscal 2016 will be weaker than anticipated 
 * Says has retained evercore partners as its financial advisor to assist in the 
   strategic review process 
 * Board will consider alternatives to improve value for shareholders 
 * Initiatives could be considered include sale of co or other business 
   combination, recapitalization of co 
 * Management has taken action to significantly reduce expenses, primarily 
   relating to kapp sales, marketing, related research and development spend 
 
* Source text for Eikon  ID:nCNWLjdDWa  
 
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