IntriCon Signs New Multi-Year Agreement With its Largest Customer, Further Supporting Long-Term Growth Outlook
IntriCon Corporation (IIN)
Last intricon corporation earnings: 2/24 04:39 pm
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US:NASDAQ Investor Relations:
investorrelations.intricon.com/investor-relations
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Source: GlobeNewswire
ARDEN HILLS, Minn., July 18, 2019 (GLOBE NEWSWIRE) -- IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, today announced that it has secured a four-year Supply Agreement with Medtronic, its largest customer. “We were pleased to receive a four-year contract with our largest Medical customer. While this agreement was anticipated in our 2019 guidance, it further fuels our confidence in the significant long-term growth prospects for our Medical Biotelemetry business,” said Mark Gorder, president and chief executive officer of IntriCon. Concurrently, the company reported preliminary, unaudited revenue for the second quarter 2019 and lowered its revenue and gross margin outlook for full year 2019 to reflect events that are expected to have an impact on the second half of the year. Second Quarter 2019 Preliminary Revenue and One-Time Non-Cash ChargeSubject to quarter-end closing adjustments, IntriCo
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