March 26, 2020 / 8:31 AM / 11 days ago

BRIEF-Payton Planar Magnetics FY Operating Profit Down At USD 10.0 Mln

March 26 (Reuters) - PAYTON PLANAR MAGNETICS LTD:

* FY OPERATING PROFIT USD 10.0 MLN VS USD 13.4 MLN YR AGO

* FY PROFIT FOR THE YEAR USD 8.8 MLN VS USD 11.4 MLN YR AGO

* AT END OF YEAR CASH AND CASH EQUIVALENTS USD 4.7 MLN VS USD 7.4 MLN YR AGO

* AS AT DEC 31 GROUP’S BACKLOG USD 13.5 MLN: MANAGEMENT EXPECTS MOST OF BACKLOG TO BE SUPPLIED UNTIL END OF DEC 2020

* AS OF DEC 31 GROUP EXPECTS TO EXECUTE DURING YEARS 2020 TO 2024 ONE OUT OF THREE PROJECTS PREVIOUSLY SIGNED IN ELECTRIC/HYBRID VEHICLE INDUSTRY

* SEES EFFECT OF CORONAVIRUS CRISIS TO END BY H2 2020

Source text: bit.ly/2WVfBpV

Further company coverage: (Gdansk Newsroom)

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