GREY:XEBEQ - Post by User
Post by
newcoinon Nov 10, 2020 8:38am
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Post# 31868958
Blame It On Covid-19
Blame It On Covid-19CEO Quote: “Despite the market disruption caused by COVID-19, Xebec was able to display resilience, maintain its revenue growth trajectory and succeed in closing several acquisitions. Similar to the previous quarter, the third quarter presented challenges with COVID-19 as countries around the world continued to grapple with the effects of the pandemic and its resurgence. This had an impact on our ability to deliver product to customers and we continued to incur higher costs associated with operations and installations due to increased health & safety measures.
Over time we expect to see a normalization in our operations as we better understand COVID-19, improve public health measures, and work towards a vaccine. We expect this will result in a strengthening and return to our historical product margins and reduced one-time costs associated with outsourced M&A activity.