Asetek – Update to Full Year 2020 Guidance
October 19, 2020 - Asetek today updated its full-year 2020 revenue and pre-tax profit expectations due to continued strong demand. Asetek expects to report an increase in Group revenue of 25% to 30% in 2020 compared with 2019. Gross margin is expected to increase from 2019, and the Company expects an income before tax of about $9-10 million. The previous revenue and pre-tax profit expectations, announced on August 18, were for revenue growth of 15% to 25% in 2020 compared with 2019 and an expected income before tax of about $7-8 million. While the Company has experienced strong