Brief: Tobii Q1 Operating Loss Narrows To SEK 23 Million

Tobii AB

29/04/2020 06:35

April 29 (Reuters) - Tobii AB  TOBII.ST :
    * TOBII INTERIM REPORT FOR THE FIRST QUARTER 2020
    * Q1 CONSOLIDATED REVENUE ROSE BY 5% TO SEK 380 MILLION
(363)
    * Q1 OPERATING RESULT AMOUNTED TO SEK -23 MILLION (-38)
    * ALTHOUGH Q1 DEVELOPED WELL, WE EXPECT A SIGNIFICANT
NEGATIVE
IMPACT ON SALES IN Q2
    * COST REDUCTION PROGRAM IS NECESSARY, BOTH TO MANAGE A
LOWER
REVENUE SHORT TERM AND TO ACHIEVE PROFITABILITY IN TOBII TECH IN
LINE WITH OUR EARLIER AMBITION
    * IT WILL MOST LIKELY NOT BE POSSIBLE TO REACH GROUP'S
FINANCIAL
TARGETS IN 2020, INCLUDING TARGET FOR GROUP TO REACH
PROFITABILITY FOR FULL YEAR
    * WE WILL REVIEW FINANCIAL TARGETS ONCE SITUATION HAS
STABILIZED

Source text for Eikon:  ID:nWkrbyKTgR 
Further company coverage:  TOBII.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 587785110;))