EXFO updates revenue outlook for second quarter of fiscal 2020
EXFO Inc - Subordinate Voting Shares (EXFO)
Last exfo inc - subordinate voting shares earnings: 4/7 04:08 pm
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Source: PR Newswire
QUEBEC CITY, Feb. 24, 2020 /PRNewswire/ - EXFO Inc. (NASDAQ: EXFO) (TSX: EXF) updated today its revenue outlook for the second quarter of fiscal 2020 due to the coronavirus impact on its supply chain and manufacturing operations in China as well as an information technology issue.EXFO now forecasts revenue for the second quarter ending on Feb. 29 will reach approximately US$55 million. Prior revenue guidance had been established between US$66 to US$71 million for the second quarter of fiscal 2020. Management expects revenue to accelerate in upcoming quarters as operations return to full capacity.To contain the spread of infection, Chinese public health authorities have imposed preventive measures within affected regions including an extended shutdown of businesses, restrictions on various forms of public transportation and lockdown periods for individuals—all of which are affecting EXFO's factory and supply chain.EXFO will announce financial results for the second quarter of fiscal 20
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