Brief: X-FAB Withdraws FY 2020 Guidance Due To COVID-19

X-Fab Silicon Foundries Europese Vennootschap

02/04/2020 17:20

April 2 (Reuters) - X FAB SILICON FOUNDRIES EV  XFAB.PA :
    * X-FAB ANNOUNCES FIRST QUARTER REVENUES AND WITHDRAWS ITS
FULL-YEAR GUIDANCE IN LIGHT OF THE COVID-19 PANDEMIC
    * X-FAB CLOSED Q1 OF 2020 WITH REVENUES AMOUNTING TO USD
126.8
MILLION (PRELIMINARY), WITHIN GUIDANCE RANGE OF USD 125-132
MILLION
    * Q1 2020 NOT IMPACTED BY THE COVID-19 PANDEMIC
    * THROUGHOUT ENTIRE Q1, BOOKINGS TRENDED UPWARDS RECORDING A
TOTAL
OF USD 148.2 MILLION
    * WITHDRAWAL OF FULL-YEAR GUIDANCE
    * VISIBILITY ON HOW X-FAB'S BUSINESS WILL EVOLVE IN
REMAINDER OF
YEAR IS LOW
    * IT CAN THEREFORE NO LONGER BE ENSURED THAT X-FAB WILL MEET
FY
GUIDANCE PROVIDED IN FEB THIS YEAR WITH ANTICIPATED REVENUE
GROWTH OF 10%

Source text for Eikon:  ID:nBw4pkPVda 
Further company coverage:  XFAB.PA 

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