Asetek – Q1 2020: Lower Revenue and Increased Gross Margin
· Q1 revenue of $9.1 million, a decrease of 18% from Q1 2019 · Gross margin increased to 49% from 43% in Q1 2019, driven by higher Data center prices, business model transition and a stronger U.S. dollar · Q1 EBITDA adjusted of $0.2 million compared to $0.3 million in Q1 2019 · Cash position increased to $26.2 million at the end of Q1 from $24.5 million at end of 2019 · No substantial supply chain- or operational impact from COVID-19 beyond the effects of the lock-down in China in mid-Q1 · Group expectations for 2020 maintained · Share buy-back program launched to offset