May 6, 2020 / 12:01 PM / 19 days ago

BRIEF-Avanos Medical Reports Q1 Adjusted Earnings Per Share $0.16

May 6 (Reuters) - Avanos Medical Inc:

* AVANOS MEDICAL, INC. ANNOUNCES FIRST QUARTER 2020 RESULTS AND PROVIDES AN UPDATE ON ITS RESPONSE TO THE COVID-19 PANDEMIC

* Q1 EARNINGS PER SHARE $0.08

* Q1 SALES $180 MILLION VERSUS REFINITIV IBES ESTIMATE OF $175.2 MILLION

* Q1 EARNINGS PER SHARE ESTIMATE $0.16 — REFINITIV IBES DATA

* COMPANY IS WITHDRAWING ITS PREVIOUSLY ANNOUNCED FULL-YEAR 2020 FINANCIAL GUIDANCE

* SUSPENDING PLANNED 2020 MERIT INCREASES FOR ITS NON-MANUFACTURING, SALARIED EMPLOYEES

* DECREASING DISCRETIONARY SPENDING ACROSS ORGANIZATION

* POSTPONING CERTAIN CAPITAL EXPENDITURES AND RESEARCH AND DEVELOPMENT PROJECTS

* STREAMLINING PROCESSES, WHILE LEAVING VACANT NON-CRITICAL POSITIONS OPEN Source text for Eikon: Further company coverage:

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