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BRIEF-LS telcom cuts sales and earnings forecast for 2016/2017
October 30, 2017 / 2:59 PM / 22 days ago

BRIEF-LS telcom cuts sales and earnings forecast for 2016/2017

Oct 30 (Reuters) - LS TELCOM AG

* SALES AND EARNINGS FOR 2016/2017 ARE EXPECTED TO BE WELL BELOW THE DOWNWARD REVISED EXPECTATIONS​

* SEES REVENUE OF AROUND EUR 27.6 MILLION AND NET LOSS OF ABOUT EUR 4.6 MILLION FOR FY‍​

* TURNOVER OF EUR 22.7 MILLION SHOULD ALREADY BE HEDGED FOR THE CURRENT FINANCIAL YEAR 2017/2018​

* SEES REVENUE OF MORE THAN EUR 34 MILLION AND NET PROFIT OF AT LEAST EUR 1 MILLION ‍IN 2017/2018​

* DECIDED ON COST-REDUCTION PACKAGE WHICH WILL BE GRADUALLY IMPLEMENTED IN COURSE OF FISCAL YEAR 2017/2018​

* COST-REDUCTION PACKAGE WILL RESULT IN ANNUAL SAVINGS OF APPROXIMATELY EUR 1 MILLION FROM 2018/19 BEGINNING Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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