April 23, 2020 / 12:41 AM / a month ago

BRIEF-SDI Sees Material Impact Of COVID-19 On June Quarter Sales

April 23 (Reuters) - SDI Ltd:

* COVID‐19 PANDEMIC HAD MINIMAL EFFECT ON OPERATIONS IN FIRST 3 QUARTERS OF FY TO MARCH 31

* NOW EXPECTS THERE WILL BE MATERIAL IMPACT OF COVID-19 ON JUNE QUARTER SALES

* DIRECTORS & MANAGEMENT SALARY REDUCTIONS OF AT LEAST 40%

* EXPECTS PROFIT AFTER TAX TO BE IN RANGE OF $3.5 MILLION TO $4.5 MILLION FOR FY

* STARTED COST CUTTING MEASURES IN APRIL INCLUDING DIRECTORS & MANAGEMENT SALARY REDUCTIONS OF AT LEAST 40%

* REDUCING OTHER OPERATIONAL WAGE & SALARY COSTS; APPLYING FOR ALL GOVERNMENT COVID‐19 SUBSIDY PROGRAMS Source text for Eikon: Further company coverage:

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