Preliminary results for the quarter include:
- Sales of approximately
- Adjusted EBITDA in the range of
$5 millionto $10 million
- Net cash used in operating activities in the range of
$0to $5 million
- Capital expenditures of approximately
"Based on our current expectations and projections for OEM customer restart plans, whether formally announced or anticipated, and in consideration of the aggressive actions we have taken to preserve cash and enhance liquidity, we expect to have sufficient liquidity to fund our operations for the next 12 months," stated
As previously announced,
Non-GAAP Financial Measures
This press release refers to adjusted EBITDA which is not recognized under
Because the quarterly financial information contained in this press release is preliminary, it is deemed to be forward-looking. The Company has not provided a reconciliation of preliminary adjusted EBITDA to preliminary or projected net income because of the unreasonable efforts it would take to provide such reconciliations at this time in the quarterly financial preparation process.
This press release includes "forward-looking statements" within the meaning of
You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release, and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law.
This press release also contains estimates and other information that is based on industry publications, surveys, and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information.
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