Brief: Tessco Technologies Q4 Loss Per Share $1.65

Tessco Technologies

12/05/2020 22:26

May 12 (Reuters) - TESSCO Technologies Inc  TESS.O :
    * TESSCO REPORTS FOURTH-QUARTER 2020 FINANCIAL RESULTS
    * Q4 LOSS PER SHARE $1.65
    * Q4 REVENUE $128.2 MILLION VERSUS $145 MILLION
    * SUSPENDS DIVIDEND
    * DURING Q4, WE RECORDED A GOODWILL IMPAIRMENT, REMOVING ALL
REMAINING GOODWILL FROM OUR BALANCE SHEET
    * "OPTIMISTIC THAT WE WILL GROW OUR CARRIER MARKET BUSINESS
IN
FISCAL 2021"
    * AS OF MARCH 29, 2020, OUTSTANDING BALANCE UNDER ITS $75
MILLION
LINE OF CREDIT WAS APPROXIMATELY $26 MILLION
    * TESSCO TECHNOLOGIES -AT THIS TIME, WHILE WE DO SEE SOME
BUILD
DELAYS, DO NOT EXPECT SIGNIFICANT IMPACT IN FISCAL 2021 GIVEN
PLANS & NEEDS OF CARRIERS

Source text for Eikon:  ID:nBw428P4xa 
Further company coverage:  TESS.O 

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