Reports Q1 revenue $85M, consensus $84.89M. "First quarter revenue remained strong at $85.0M, growing 11% year-on-year, driven primarily by shipments of our new Focus Premium Laser Scanner," said Michael Burger, President and Chief Executive Officer. "After experiencing delays in customer purchase decisions late in the first quarter due to a softening macroeconomic environment, we are implementing additional annualized cost saving initiatives in the range of $10M to $20M, to offset both the expected revenue impact and continued near-term inflationary pressures. Looking ahead, we continue to believe the combination of investments in our latest product innovations and the integration of recent acquisitions positions us well to capture the significant market opportunity inherent in digitalizing the physical world."
Published first on TheFly
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