February 27, 2020 / 12:48 PM / a month ago

BRIEF-Pine Technology Holdings Posts HY Loss Attributable $12.2 MLN Versus

Feb 27 (Reuters) - Pine Technology Holdings Ltd:

* HY LOSS ATTRIBUTABLE $12.2 MILLION VERSUS LOSS OF $13.7 MILLION

* HY REVENUE $77.4 MILLION VERSUS $62.8 MILLION

* EXPECTED THAT DONGGUAN FACTORY WILL EXPERIENCE DELAY IN RESUMING ORIGINAL PRODUCTION SCHEDULES DUE TO COVID-19 OUTBREAK

* THERE WILL BE LATE DELIVERY OF PRODUCTS DURING SECOND HALF OF FISCAL YEAR

* SHORTAGE OF EMPLOYEES AND PROLONGED APPROVAL PROCEDURES AS A RESULT OF ADMINISTRATIVE MEASURES IS EXPECTED TO BE TEMPORARY

* ANTICIPATED THAT COMPUTER SOFTWARE AND HARDWARE, SYSTEM DEVELOPMENT BUSINESS WILL FACE BIG CHALLENGES IN H2 OF FISCAL YEAR

* POTENTIAL IMPACT ON BUSINESSES OF GROUP MAY NEGATIVELY AFFECT FINANCIAL RESULTS OF GROUP FOR H2

* PREVENTION MEASURES AFFECTED APPROVAL PROCEDURES FOR SOFTWARE AND HARDWARE AND SYSTEM DEVELOPMENT BUSINESS

* AFFECT TO APPROVAL PROCEDURES WILL LIKELY CAUSE DELAY IN MEETING INITIALLY PLANNED SCHEDULES DURING SECOND HALF

* COVID-19 EPIDEMIC MAY NEGATIVELY AFFECT FINANCIAL RESULTS OF GROUP FOR SECOND HALF OF FISCAL YEAR Source text for Eikon: Further company coverage:

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