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Asetek - Update to Full Year 2020 GuidanceOSLO, Norway, Oct. 19, 2020 /PRNewswire/ -- Asetek today updated its full-year 2020 revenue and pre-tax profit expectations due to continued strong demand. Asetek expects to report an increase in Group revenue of 25% to 30% in 2020 compared with 2019. Gross margin is expected to increase from 2019, and the Company expects an income before tax of about $9-10 million. The previous revenue and pre-tax profit expectations, announced on August 18, were for revenue growth of 15% to 25% in 2020 compared with 2019 and an expected income before tax of about $7-8 million. While the Company has experienced strong demand year-to-date 2020, the Company recognizes uncertainty related to potential future impact from COVID-19 over time. Any such uncertainty is not included in the expectations for the remainder of 2020. About Asetek For further information, please contact: This information was brought to you by Cision http://news.cision.com https://news.cision.com/asetek/r/asetek---update-to-full-year-2020-guidance,c3218389 The following files are available for download:
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