March 23, 2020 / 6:58 AM / 12 days ago

BRIEF-Memscap FY Revenue Down At 12.8 Million Euros

March 23 (Reuters) - MEMSCAP SA:

* FY OPERATING PROFIT AT EUR 0.1 MILLION

* FY REVENUE EUR 12.8 MILLION VERSUS EUR 13 MILLION YEAR AGO

* REGARDING COVID-19 PANDEMIC, GROUP’S PRODUCTION SITES LOCATED IN NORWAY AND UNITED STATES (NORTH CAROLINA) REMAIN OPERATIONAL

* ON CORONAVIRUS: GROUP IS CURRENTLY ASSESSING IMPACTS OF THIS PANDEMIC

* FY NET LOSS EUR 0.0 MILLION VERSUS PROFIT EUR 0.3 MILLION YEAR AGO

* OUTLOOK: MEMSCAP PURSUES ITS STRATEGY FOCUSED ON AVIONICS, MEDICAL AND OPTICAL COMMUNICATIONS SEGMENTS, BACKED BY ITS OWN INTELLECTUAL PROPERTY, AS WELL AS DEVELOPMENT OF AN INCREASED FLEXIBILITY OF ITS PRODUCTION CAPACITIES

* AT DEC 31 2019, AVAILABLE CASH OF EUR 3.4 MILLION VERSUS EUR 3.7 MILLION AT DEC 31 2018

* AT DECEMBER 31, 2019, GROUP REPORTED AVAILABLE CASH AT EUR 3.4 MILLION (DECEMBER 31, 2018: EUR 3.7 MILLION) INCLUDING CASH INVESTMENTS (CORPORATE BONDS) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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