Brief: Sunworks Reports Q4 Loss Per Share $0.59

Sunworks

30/03/2020 22:49

March 30 (Reuters) - Sunworks Inc  SUNW.O :
    * SUNWORKS REPORTS FOURTH QUARTER 2019 RESULTS
    * Q4 LOSS PER SHARE $0.59
    * Q4 REVENUE $14.4 MILLION
    * SUNWORKS - TAKEN MEASURES TO REDUCE FIXED COSTS & PRESERVE
CASH
FOLLOWING CHALLENGING Q4 2019 & IMPACT OF COVID-19 PANDEMIC
    * TEMPORARILY REDUCED PAY FOR 36 EMPLOYEES
    * SUSPENSION OF ALL COMPENSATION TO MEMBERS OF BOARD OF
DIRECTORS
& CEO
    * AT LEAST A 50% REDUCTION IN PAY FOR OTHER MEMBERS OF
MANAGEMENT
TEAM
    * REDUCED FULL-TIME HEADCOUNT BY 59 PEOPLE, REPRESENTING 30%
REDUCTION SINCE BEGINNING OF YEAR
    * APPLIED FOR A U. S. SMALL BUSINESS ADMINISTRATION DISASTER
BUSINESS LOAN, WHICH IS CURRENTLY UNDER REVIEW

Source text for Eikon:  ID:nGNXxCDm7 
Further company coverage:  SUNW.O 

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