Summary
Keysight Technologies, Inc. (KEYS) announced on March 18, 2020, that it is temporarily closing many of its facilities through at least the end of March 2020. This decision was made to limit the spread of COVID-19, comply with government directives, and mitigate impacts on employees, customers, and suppliers. These operational disruptions are expected to impact Keysight's ability to meet its previously issued second-quarter guidance. Due to the high degree of uncertainty surrounding the COVID-19 situation, the company is currently unable to quantify the full financial impact. Keysight plans to provide further information regarding the impact on its next earnings call.
Key Highlights
- 1Temporary closure of multiple Keysight facilities due to COVID-19 concerns and government directives.
- 2Facility closures are in effect until at least the end of March 2020.
- 3The company anticipates an impact on its ability to meet previously provided second-quarter guidance.
- 4Full financial impact of the COVID-19 situation is currently unquantifiable due to uncertainty.
- 5Keysight will provide additional details on the impact during its upcoming earnings call.
- 6The announcement was made via a press release on March 18, 2020, filed as an exhibit.