Asetek – Update to Full Year 2020 Guidance
January 5, 2021 - Asetek today updated its full-year 2020 revenue and pre-tax profit expectations due to continued strong demand in the fourth quarter. Asetek expects to report an increase in Group revenue of 33-35% for 2020 compared with 2019. Gross margin is expected to increase from 2019, and the Company expects an income before tax of about $10-11 million. The previous revenue and pre-tax profit expectations, announced on October 19, were for revenue growth of 25-30% in 2020 compared with 2019 and an expected income before tax of about $9-10 million. The Company will release