Perceptron, Inc. Provides the Earnings Guidance for the Fourth Quarter and Full Year 2019
May 09, 2019 at 04:15 pm EDT
Perceptron, Inc. provided the earnings guidance for the fourth quarter and full year 2019. The company expects the revenue for the fiscal fourth quarter is expected to be in the range of $15.5 million to $18.5 million. Given expectations of a flat macro environment in the key industry segments in 2019, lower short-term demand in the Americas region and foreign currency exchange headwinds, the Company tempers its guidance for full year fiscal 2019 revenue to be down approximately 10% compared with the prior fiscal year. Continued early success with new product launches, despite moderating global growth, reinforces Perceptron’s confidence in achieving its long-term growth targets. In reaction to the short-term revenue trends, the Company has implemented a plan to reduce fixed costs, including position eliminations and headcount reductions. These changes are expected to create over $2.0 million in estimated full run-rate annual pre-tax cost savings.