Aterian to Cut Workforce Amid Further Restructuring Measures [MarketWatch]
Aterian, Inc. (ATER)
Company Research
Source: MarketWatch
The technology-enabled consumer products company on Wednesday said that 21 employees and 27 contractors, mainly located in the Philippines and Poland, are affected by the cost-cutting plan. Advertisement The company expects to benefit from annualized savings of about $4 million as a result of the latest measures, as well as to book a restructuring charge of $900,000 in the first quarter due to severance payments. Aterian's outlook comes as the company upgrades the lower-end of its outlook for the fourth quarter following a reduction of its product offering--specially related to its kitchen appliance products. The company guided for quarterly revenue of $31.2 million to $32 million, up from a prior outlook of $28 million to $32 million. This compares with reported revenue of $54.9 million for the same period a year earlier. Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
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News
- Aterian Sets Date for First Quarter 2024 Earnings Announcement & Investor Conference CallGlobeNewswire
- Aterian Announces Improved First Quarter 2024 Net Revenue and Adjusted EBITDA Ranges [Yahoo! Finance]Yahoo! Finance
- Aterian Announces Improved First Quarter 2024 Net Revenue and Adjusted EBITDA RangesGlobeNewswire
- Aterian Partners with Mercado Libre, Latin America's Leading E-Commerce Platform [Yahoo! Finance]Yahoo! Finance
- Aterian Partners with Mercado Libre, Latin America’s Leading E-Commerce PlatformGlobeNewswire
ATER
Earnings
- 3/12/24 - In-Line
ATER
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- ATER's page on the SEC website