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BRIEF-Syntonic Updates On Impact Of Coronavirus Disease On Business

Published 23/03/2020, 09:48 am
© Reuters.
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March 23 (Reuters) - Syntonic Ltd SYT.AX :

* UNFORESEEN AND SUDDEN BUSINESS IMPACT WILL DELAY SYNTONIC'S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020

* UPDATES ON IMPACT OF CORONAVIRUS DISEASE ON SYNTONIC BUSINESS

* COMPANY DOES NOT ANTICIPATE ANY SHORT-TERM MATERIAL IMPACT ON BUSINESS OPERATIONS RESULTING FROM COMPANY DIRECTIVES

* SEES MATERIAL IMPACT ON FY20 REVENUE GENERATED FROM SALES AND RENEWALS OF FOX SPORTS GOL SERVICE

* REVENUE REDUCTION WILL ALSO IMPACT COMPANY'S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020

* SEES OVERALL DECLINE IN CONSUMER SPENDING AS COVID-19 EXPANDS INTO SYNTONIC'S PRINCIPLE MARKETS WHICH MAY REDUCE CO'S REVENUE IN UPCOMING QUARTER

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