SAN MATEO, Calif., March 20, 2020 /PRNewswire/ -- Sonim
Technologies, Inc. (Nasdaq: SONM), a leading
U.S. provider of ultra-rugged mobility solutions designed
specifically for task workers physically engaged in their work
environments, today provided an update on business operations.
"After having to shut down our manufacturing operations due to
the COVID-19 disruptions in Asia
early this year, Sonim is now back to full operations," said
Tom Wilkinson, Chief Executive
Officer. "The COVID-19 situation is far from over, and we continue
to closely monitor developments around this global event. We are
continuing to take orders from our carrier partners, ship inventory
to fulfill these orders and manufacture new inventory units at our
facilities in Asia. Our Operations
team is in regular contact with our global supply chain partners,
and, at this time, we do not see any constraints on our ability to
deliver products in fulfillment of our customers' orders."
Wilkinson added, "The public safety market has always been a key
customer segment for Sonim, and the current environment is leading
to renewed emphasis on the rugged performance standards we build
into our products. In particular, the chemical resistance and
waterproof architecture of our devices allows them to be
aggressively cleaned and disinfected, a key feature for the first
responders and healthcare workers at the front lines of COVID-19.
The work-from-home initiative that companies around the globe are
moving to is also driving interest as companies look for ways to
equip workers with the dependable devices that can make them
effective wherever they are, especially in the field."
Sonim also stated that it presently has adequate liquidity and
capital on-hand to fund its current operating needs and meet
continued customer demand. The company has taken steps to improve
working capital efficiency in the new year through improved
management of inventory levels as well as other measures.
Investor Meetings
Sonim CEO Tom Wilkinson and CFO Bob Tirva will be available for virtual meetings
with interested investors. Meetings can be arranged by contacting
Matt Kreps of Darrow Associates,
investor relations for Sonim, at mkreps@darrowir.com.
About Sonim Technologies, Inc.
Sonim Technologies is a
leading U.S. provider of ultra-rugged mobility solutions designed
specifically for task workers physically engaged in their work
environments, often in mission-critical roles. The Sonim solution
includes ultra-rugged mobile phones, a suite of industrial-grade
accessories, and data and workflow applications which are
collectively designed to increase worker productivity,
communication and safety on the job site. For more information,
visit www.sonimtech.com.
Important Cautions Regarding Forward-Looking
Statements
This release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements relate to, among other things, future
operations, ability to fulfill orders, [liquidity and capital on
hand,]and continued market acceptance of the Company's products.
These forward-looking statements are based on Sonim's current
expectations, estimates and projections about its business and
industry, management's beliefs and certain assumptions made by the
Company, all of which are subject to change. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as, "future", "believe," "expect,"
"may," "will," "intend," "estimate," "continue," or similar
expressions or the negative of those terms or expressions. Such
statements involve risks and uncertainties, which could cause
actual results to vary materially from those expressed in or
indicated by the forward-looking statements. Factors that may cause
actual results to differ materially include Sonim's ability to
continue its Asia operations,
manufacture product in response to customer orders,[ maintain its
capital position and capital generating sales,] generate positive
cash flow, and ability to be profitable; anticipated trends, such
as the use of and demand for its products; its ability to attract
and retain customers to purchase and use its products; its ability
to attract wireless carriers as customers for its products; the
evolution of technology affecting its products and markets; its
ability to successfully address the technical issues identified
with respect to its products; its ability to introduce new products
and enhance existing products, as well as the other potential
factors described under "Risk Factors" included in
Sonim's Quarterly Report on Form 10-Q for the three
months ended September 30,
2019 and other documents on file with the Securities and
Exchange Commission (available at www.sec.gov). In addition, there
is uncertainty about the spread of the COVID-19 virus and the
impact it may have on the Company's operations, the demand for the
Company's products, global supply chains and economic activity in
general. Sonim cautions you not to place undue reliance on
forward-looking statements, which reflect an analysis only and
speak only as of the date hereof. Sonim assumes no obligation to
update any forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release, except
as required by law.
Sonim Technologies Contacts
Bob Tirva, Chief Financial Officer
Sonim Technologies, Inc.
(650) 378-8100
Matt Kreps, Managing Director
Darrow Associates Investor Relations
mkreps@darrowir.com
(214) 597-8200
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SOURCE Sonim Technologies, Inc.