BRIEF-Surgalign Provides Update On Corporate Restructuring Initiatives And Confirms Its Prior 2022 Revenue Guidance

Reuters

2023-03-06

March 6 (Reuters) - Surgalign Holdings Inc :

* SURGALIGN PROVIDES UPDATE ON CORPORATE RESTRUCTURING INITIATIVES AND CONFIRMS ITS PRIOR 2022 REVENUE GUIDANCE

* SURGALIGN HOLDINGS INC - PRIMARY FOCUS OF PLANNED RESTRUCTURING HAS CENTERED ON PRODUCT LINE RATIONALIZATION

* SURGALIGN HOLDINGS INC - EXPECTS TO INCUR AN INVENTORY WRITE-DOWN OF APPROXIMATELY $12.5 - $15.5 MILLION IN Q4 OF 2022

* SURGALIGN HOLDINGS INC - ANNOUNCED IN NOVEMBER 2022, PLANS TO REDUCE ITS WORKFORCE

* SURGALIGN HOLDINGS INC - ESTIMATES IT WILL REPORT FULL YEAR 2022 REVENUE OF APPROXIMATELY $82.0 MILLION AND END YEAR WITH APPROXIMATELY $16.3 MILLION IN CASH

* SURGALIGN HOLDINGS INC - INTENDS TO CONTINUE TO EXPLORE ALL STRATEGIC PATHS

* SURGALIGN HOLDINGS INC - NOTIFICATIONS WERE PROVIDED AND COMPANY EXECUTED ON ITS PLAN, RESULTING IN A REDUCTION IN FORCE OF APPROXIMATELY 20%

* SURGALIGN HOLDINGS INC - EXPECTS TO INCUR AN INVENTORY WRITE-DOWN OF APPROXIMATELY $12.5 - $15.5 MILLION IN Q4 OF 2022

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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Surgalign Holdings Inc   :</p><p>   * SURGALIGN PROVIDES UPDATE ON CORPORATE RESTRUCTURING INITIATIVES AND CONFIRMS ITS PRIOR 2022 REVENUE GUIDANCE</p><p>   * SURGALIGN HOLDINGS INC - PRIMARY FOCUS OF PLANNED RESTRUCTURING HAS CENTERED ON PRODUCT LINE RATIONALIZATION</p><p>   * SURGALIGN HOLDINGS INC - EXPECTS TO INCUR AN INVENTORY WRITE-DOWN OF APPROXIMATELY $12.5 - $15.5 MILLION IN Q4 OF 2022</p><p>   * SURGALIGN HOLDINGS INC - ANNOUNCED IN NOVEMBER 2022, PLANS TO REDUCE ITS WORKFORCE</p><p>   * SURGALIGN HOLDINGS INC - ESTIMATES IT WILL REPORT FULL YEAR 2022 REVENUE OF APPROXIMATELY $82.0 MILLION AND END YEAR WITH APPROXIMATELY $16.3 MILLION IN CASH</p><p>   * SURGALIGN HOLDINGS INC - INTENDS TO CONTINUE TO EXPLORE ALL STRATEGIC PATHS</p><p>   * SURGALIGN HOLDINGS INC - NOTIFICATIONS WERE PROVIDED AND COMPANY EXECUTED ON ITS PLAN, RESULTING IN A REDUCTION IN FORCE OF APPROXIMATELY 20%</p><p>   * SURGALIGN HOLDINGS INC - EXPECTS TO INCUR AN INVENTORY WRITE-DOWN OF APPROXIMATELY $12.5 - $15.5 MILLION IN Q4 OF 2022</p><p>Source text for Eikon:    Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2317175897","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2317175897","pubTimestamp":1678110150,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"March 6 (Reuters) - Surgalign Holdings Inc   :   * SURGALIGN PROVIDES UPDATE ON CORPORATE RESTRUCTUR","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"简介-Surgalign提供了公司重组计划的最新情况，并确认了其之前的2022年收入指导","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SRGA":0.9},"content_text":"March 6 (Reuters) - Surgalign Holdings Inc   :   * SURGALIGN PROVIDES UPDATE ON CORPORATE RESTRUCTURING INITIATIVES AND CONFIRMS ITS PRIOR 2022 REVENUE GUIDANCE   * SURGALIGN HOLDINGS INC - PRIMARY FOCUS OF PLANNED RESTRUCTURING HAS CENTERED ON PRODUCT LINE RATIONALIZATION   * SURGALIGN HOLDINGS INC - EXPECTS TO INCUR AN INVENTORY WRITE-DOWN OF APPROXIMATELY $12.5 - $15.5 MILLION IN Q4 OF 2022   * SURGALIGN HOLDINGS INC - ANNOUNCED IN NOVEMBER 2022, PLANS TO REDUCE ITS WORKFORCE   * SURGALIGN HOLDINGS INC - ESTIMATES IT WILL REPORT FULL YEAR 2022 REVENUE OF APPROXIMATELY $82.0 MILLION AND END YEAR WITH APPROXIMATELY $16.3 MILLION IN CASH   * SURGALIGN HOLDINGS INC - INTENDS TO CONTINUE TO EXPLORE ALL STRATEGIC PATHS   * SURGALIGN HOLDINGS INC - NOTIFICATIONS WERE PROVIDED AND COMPANY EXECUTED ON ITS PLAN, RESULTING IN A REDUCTION IN FORCE OF APPROXIMATELY 20%   * SURGALIGN HOLDINGS INC - EXPECTS TO INCUR AN INVENTORY WRITE-DOWN OF APPROXIMATELY $12.5 - $15.5 MILLION IN Q4 OF 2022Source text for Eikon:    Further company coverage:    ((Reuters.Briefs@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}