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Re: alchemytrader post# 47

Monday, 07/27/2020 10:43:12 AM

Monday, July 27, 2020 10:43:12 AM

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They could have an ugly earnings report this Thursday as well. On the Q1 conference call, they cautioned demand was down 40% in Q2...

"Our Q1 revenues were impacted by the COVID-19 pandemic, especially in the second-half of March. As over 70% of our business is driven by retail-centric applications, our business which were severely impacted by the lockdowns we cannot be overly surprised by these results.

While we live in extremely unpredictable times, and there is a high degree of uncertainty today, we would like to share our current expectations for Q2. Based on the limited data we have collected since mid March, we believe our retail-centric business will continue to be severely impacted during Q2. And we expect demand will fall by more than 40%."
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