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Healthcare

BRIEF-Intricon Corp - Is Withdrawing Its Previously Announced Full Year 2020 Guidance

IntriCon Corp:

* INTRICON OFFERS COVID-19 RELATED BUSINESS UPDATE

* INTRICON - FOR Q1 2020, CO EXPECTS TO REPORT REVENUE IN RANGE OF $21.5 MILLION TO $22.5 MILLION COMPARED TO ITS PREVIOUS GUIDANCE OF $23.5 MILLION TO $24.5 MILLION

* INTRICON CORP - AS OF MARCH 31, 2020, INTRICON HAD APPROXIMATELY $37.5 MILLION IN NET CASH AND CASH EQUIVALENTS

* INTRICON CORP - COMPANY DOES NOT CARRY ANY OUTSTANDING DEBT OBLIGATIONS

* INTRICON - TAKEN STEPS INCLUDING DEFERRAL OF NON-STRATEGIC INVESTMENTS AS WELL AS FURLOUGHS AND SALARY REDUCTIONS FOR DIRECTORS AND MANAGEMENT

* INTRICON CORP - IS WITHDRAWING ITS PREVIOUSLY ANNOUNCED FULL YEAR 2020 GUIDANCE

* INTRICON CORP - CANNOT PREDICT SPECIFIC EXTENT OR DURATION OF IMPACT OF COVID-19 ON ITS FULL YEAR FINANCIAL AND OPERATING RESULTS

* INTRICON CORP - ANTICIPATES A NOTABLE INVENTORY LEVEL ADJUSTMENT FOR ITS LARGEST CUSTOMER THAT WILL NEGATIVELY IMPACT Q2 RESULT

* INTRICON - POSTPONED ITS ANTICIPATED “SELF-FITTING SOFTWARE” CLINICAL TRIAL UNTIL SUCH TIME AS IT CAN ENSURE HEALTH AND SAFELY OF TRIAL PARTICIPANTS

* INTRICON - FOR Q1 2020 LOWER THAN ANTICIPATED REVENUE IS PRIMARILY DUE TO COVID-19’S IMPACT ON BUSINESS TRENDS IN MARCH Source text for Eikon: Further company coverage:

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