May 22, 2020 / 11:42 AM / 15 days ago

BRIEF-Teligent Inc Announces First Quarter 2020 Results

May 22 (Reuters) - Teligent Inc (NEW JERSEY):

* Q1 REVENUE $7.4 MILLION VERSUS $13.1 MILLION

* TELIGENT INC - QTRLY LOSS PER SHARE $0.50

* TELIGENT - NOT IN A POSITION TO PROVIDE GUIDANCE FOR REMAINDER OF 2020

* TELIGENT - ANTICIPATE IMPROVED TOP AND BOTTOM LINE FINANCIAL PERFORMANCE IN Q2 IN COMPARISON TO Q1 OF 2020

* TELIGENT - CURRENT, ANTICIPATED FUTURE FINANCIAL PERFORMANCE OF CO NEGATIVELY IMPACTED DUE TO COVID-19

* TELIGENT -EXECUTIVE LEADERSHIP TEAM & ALL EMPLOYEES WITH ANNUAL SALARIES EXCEEDING $100,000 ACCEPTED 20% & 15% 8-WEEK REDUCTION IN SALARY,RESPECTIVELY

* ANTICIPATE REVERSE SPLIT IN RATIO OF 10:1 WILL BE EFFECTUATED ON MAY 28, 2020

* TELIGENT - FURLOUGHED A PORTION OF EMPLOYEES AT OUR BUENA, NJ MANUFACTURING FACILITY

* TELIGENT - RECORDED IMPAIRMENT CHARGE OF $8.4 MILLION IN CURRENT QUARTER

* TELIGENT - IMPAIRMENT CHARGE IN QUARTER RELATED TO TRADEMARKS, TECHNOLOGY OF $4.9 MILLION & PRODUCT ACQUISITION COSTS OF $3.5 MILLION Source text for Eikon: Further company coverage:

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