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Technicolor cuts full year profit guidance on rising memory prices
June 29, 2017 / 4:05 PM / in 4 months

Technicolor cuts full year profit guidance on rising memory prices

June 29 (Reuters) - French media and entertainment group Technicolor cut its full year adjusted EBITDA target as rising memory costs affect its Connected Home business, it said on Thursday.

Technicolor now expects annual adjusted core earnings in the 420-480 million euro range ($480-548 million), down from the 460-520 million euros expected earlier.

The company also said it maintained its original free cash flow objective in excess of 150 million euros before cash impacts of the Cathode Ray Tube cartel case settlements. ($1 = 0.8754 euros) (Reporting by Wout Vergauwen; Editing by Elaine Hardcastle)

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