Vislink Technologies Inc (VISL)

[TFMG]

$VISL | #Vislink Tech Upside Targets


Revenues for the three months ended June 30, 2020, and 2019 were $6.0 million and $7.4 million, respectively, representing a decrease of $1.4 million or 19%. The reduction of $1.4 million can be attributed to a decline in sales of $1.4 million in Asia, $0.3 million in North America, and $0.1 million in South America. The decrease was offset by an increase in sales of $0.5 million in Europe, and there were significant one-time orders in 2019 not repeated in the fiscal year 2020.

Revenue for the six months ended June 30, 2020, and 2019 were $11.4 million and $15.6 million, representing a decrease of $4.2 million or 27%. The reduction of $4.2 million can be attributed to a decline in sales of $2.8 million in Asia and $2.2 million in North America. The decrease was offset by an increase in sales of $0.7 million in the Rest of the World and $.1 million in Europe. There were significant one-time orders in 2019 not repeated in the fiscal year 2020.

The reduction in revenue is owing to customer circumstances currently existing in the international marketplace because of the COVID-19 pandemic. It has created a slowdown in new orders in the first and second quarters of 2020 compared to 2019.