May 4 (Reuters) - Wajax Corp WJX.TO :
* WAJAX ANNOUNCES 2020 FIRST QUARTER RESULTS AND PROVIDES AN UPDATE REGARDING COVID-19 RESPONSE
* Q1 ADJUSTED EARNINGS PER SHARE C$0.29
* Q1 EARNINGS PER SHARE C$0.20
* Q1 REVENUE C$344.1 MILLION VERSUS REFINITIV IBES ESTIMATE OF C$368.9 MILLION
* Q1 EARNINGS PER SHARE ESTIMATE C$0.43 -- REFINITIV IBES DATA
* WAJAX - AS AT APRIL 27, 541 EMPLOYEES PLACED ON TEMPORARY LAYOFF & A FURTHER 341 EMPLOYEES ON REDUCED WORK WEEKS/PARTICIPATING IN WORKSHARE PROGRAMS
* WAJAX - TEMPORARY SALARY REDUCTIONS IMPLEMENTED, INCLUDING REDUCTIONS OF 20% FOR CEO, 10% FOR SENIOR EXECUTIVES AND BETWEEN 5-10% FOR MANAGERS
* BOARD MEMBER RETAINERS HAVE BEEN TEMPORARILY REDUCED BY 20%.
* CATEGORY REVENUE DECLINES ARE EXPECTED IN Q2 OF 2020 WHEN COMPARED TO LAST YEAR
* SIGNIFICANT DECLINE IN OIL PRICES HAS ALSO NEGATIVELY AFFECTED CORPORATION'S VOLUMES IN WESTERN CANADA IN QUARTER
* TO DATE, NO MATERIAL DISRUPTIONS TO BRANCH NETWORK OR SUPPLY CHAIN HAVE OCCURRED