Brief: Verimatrix Suspends 2020 And 2021 Objectives

Verimatrix SA

21/04/2020 17:00

April 21 (Reuters) - Verimatrix SA  VMX.PA :
    * $20.0 MILLION REVENUE IN Q1 2020
    * 2020 AND 2021 OBJECTIVES ARE SUSPENDED UNTIL MACROECONOMIC
ENVIRONMENT IMPROVES AND REGAIN VISIBILITY
    * TIGHT CONTROL OF EXPENSE TO PRESERVE PROFITABILITY AND
CASH FLOW
WHILE INVESTING IN LONG-TERM GROWTH
    * COMPANY LARGELY DELEVERAGED WITH A SOLID FINANCIAL
POSITION TO
FACE GLOBAL PANDEMIC SITUATION
    * COMPANY'S FINANCIAL DEBT MATURES IN JULY 2022 (EUR 16
MILLION
"OCEANE" CONVERTIBLE BONDS) AND FEBRUARY 2026 ($44 MILLION
BULLET PRIVATE LOAN)
    * AS OF APRIL 15, 2020, COMPANY'S CONSOLIDATED CASH POSITION
WAS
$46 MILLION (COMPARED WITH $54.0 MILLION, AT DECEMBER 31, 2019),
IN LINE WITH OPERATING PLAN AND BUSINESS SEASONALITY
    * ON CORONAVIRUS: CONSEQUENCES OF COVID-19 EPIDEMIC ON
WORLDWIDE
ECONOMIES REMAIN DIFFICULT TO QUANTIFY AND FORECASTING IS A
CHALLENGE AS OF NOW

Source text for Eikon:  ID:nBw5zm3Vla 
Further company coverage:  VMX.PA 

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