March 12, 2020 / 1:45 PM / 3 months ago

BRIEF-AstroNova Reports Q4 Loss Per Share Of $0.19

March 12 (Reuters) - AstroNova Inc:

* ASTRONOVA ANNOUNCES FINANCIAL RESULTS FOR FOURTH-QUARTER AND FULL-YEAR FISCAL 2020

* Q4 REVENUE $30.5 MILLION VERSUS $37.2 MILLION

* ASTRONOVA - DUE TO NEAR-TERM INDUSTRY DYNAMICS, NOTABLY BOEING 737 MAX PRODUCTION HALT, HAVE TAKEN ACTIONS TO BRING COSTS IN LINE WITH CURRENT MARKET ENVIRONMENT

* ASTRONOVA - IMPLEMENTED 5% HEADCOUNT REDUCTION & OTHER INITIATIVES, EXPECT TO RESULT IN AN ANNUALIZED EXPENSE SAVINGS OF $1.5 MILLION TO $2.0 MILLION

* ASTRONOVA - HAVE MADE SOME ADDITIONAL CHANGES TO SALES MANAGEMENT STRUCTURE, EXPECT WILL RESULT IN MORE EFFICIENT & EFFECTIVE GLOBAL SALES PROCESSES

* “BELIEVE COST-CUTTING MEASURES POSITION US FOR A RETURN TO PROFITABILITY AS WE MOVE FORWARD IN FISCAL 2021”

* ADDITIONAL DELAYS IN 737 MAX RETURN TO SERVICE WILL NEGATIVELY IMPACT NEARER TERM RESULTS

* ASTRONOVA - ALSO CLOSELY MONITORING COVID-19 VIRAL OUTBREAK FOR POTENTIAL IMPACTS ON CUSTOMER DEMAND AND OUR SUPPLY CHAIN Source text for Eikon: Further company coverage:

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