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BRIEF-Unisync Update On Covid-19 Affect On Operations

Published 2020-04-03, 08:40 a/m
UNI
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April 3 (Reuters) - Unisync Corp UNI.TO :

* UNISYNC UPDATE ON COVID-19 AFFECT ON OPERATIONS

* UNISYNC CORP - CANADIAN OPERATIONS OF UGL AND PEERLESS ARE EXPECTED TO CONTINUE TO OPERATE.

* UNISYNC CORP - ESTIMATING THAT CO COULD EXPERIENCE A REDUCTION IN Q3 REVENUES FROM UGL'S CANADIAN OPERATIONS BY AS MUCH AS 60%

* UNISYNC CORP - TO PLACE 112 OF UGL'S 254 CANADIAN EMPLOYEES ON TEMPORARY LAYOFF

* UNISYNC CORP - PEERLESS IS EXPECTED TO CONTINUE TO OUTPERFORM LAST YEAR THROUGH BALANCE OF FISCAL 2020

* UNISYNC CORP - ESTIMATE THAT CONSOLIDATED REVENUES FOR JUST COMPLETED FIRST 6 MONTHS OF FISCAL 2020 WERE APPROXIMATELY $55 MILLION

* UNISYNC CORP - ELIMINATING 100% OF DIRECTORS FEES FOR AT LEAST 6 MONTHS

* UNISYNC CORP - IMPLEMENTING TEMPORARY REDUCTIONS IN COMPENSATION AT SENIOR EXECUTIVE LEVELS.

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