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Rain Industries Sees Delay In Collecting Receivable From Customer In Venezuela in Q4


Monday, 4 Feb 2019 

Feb 4 (Reuters) - Rain Industries Ltd ::RAIN INDUSTRIES - IN Q4, THERE WILL BE DELAY IN COLLECTING RECEIVABLE FROM ITS CUSTOMER IN VENEZUELA.RAIN INDUSTRIES - DECIDED TO MAKE AN ALLOWANCE FOR DOUBTFUL RECEIVABLES OF $10.85 MILLION DURING THE DECEMBER 2018 QUARTER.SAYS OPERATING MARGINS WERE ALSO AFFECTED BY THE REVALUING OF INVENTORY DUE TO THE PRICING ENVIRONMENT.EXPECTED THAT DECLINE IN PRICE OF FINISHED PRODUCT WILL OUTPACE DECLINE IN COST OF INVENTORY, LEADING TO MARGIN PRESSURE IN DEC-QUARTER. 

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