March 16, 2018 / 6:46 AM / 2 years ago

BRIEF-Parrot FY Net Loss Group Share Narrows To 38.2 Million Euros

March 16 (Reuters) - PARROT SA:

* PARROT SAID ON THURSDAY ITS Q4 REVENUE WAS EUR 49.0 MLN VS (RESTATED) EUR 68.5 MLN YEAR AGO

* FY EBIT LOSS EUR 69.3 MLN VS LOSS OF EUR 136.6 MLN YEAR AGO

* FY NET LOSS GROUP SHARE EUR 38.2 MLN VS LOSS OF EUR 137.9 MLN YEAR AGO

* IN SHORT TERM, SEES ITS 2018 REVENUES AFFECTED BY RESIZING OF CONSUMER PRODUCT PORTFOLIO AROUND SCALED-BACK RANGE OF DRONES

* IN SHORT TERM, SEES CONTINUED REDUCTION IN SALES OF RETAIL AUTOMOTIVE PRODUCTS

* 2018 GROSS MARGIN EXPECTED TO CONTINUE IMPROVING

* FOR 2018 SEES CASH CONSUMPTION REQUIRED FOR DEVELOPMENT OF DRONE ACTIVITIES TO BE REDUCED

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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