March 22, 2020 / 10:53 PM / 13 days ago

BRIEF-Syntonic Updates On Impact Of Coronavirus Disease On Business

March 23 (Reuters) - Syntonic Ltd:

* UNFORESEEN AND SUDDEN BUSINESS IMPACT WILL DELAY SYNTONIC’S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020

* UPDATES ON IMPACT OF CORONAVIRUS DISEASE ON SYNTONIC BUSINESS

* COMPANY DOES NOT ANTICIPATE ANY SHORT-TERM MATERIAL IMPACT ON BUSINESS OPERATIONS RESULTING FROM COMPANY DIRECTIVES

* SEES MATERIAL IMPACT ON FY20 REVENUE GENERATED FROM SALES AND RENEWALS OF FOX SPORTS GOL SERVICE

* REVENUE REDUCTION WILL ALSO IMPACT COMPANY’S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020

* SEES OVERALL DECLINE IN CONSUMER SPENDING AS COVID-19 EXPANDS INTO SYNTONIC’S PRINCIPLE MARKETS WHICH MAY REDUCE CO’S REVENUE IN UPCOMING QUARTER Source text for Eikon: Further company coverage:

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