Materialise NV (NASDAQ:MTLS), a leading provider of additive
manufacturing and medical software and of sophisticated 3D printing
services, today announced its financial results for the fourth
quarter and full year ended December 31, 2019.
Highlights – Fourth Quarter and Full Year 2019
Fourth Quarter 2019:
- Total revenue increased 3.5% to 50,712 kEUR for the fourth
quarter of 2019 compared to the 2018 period.
- Adjusted EBITDA increased 28.0% to 7,749 kEUR for the fourth
quarter of 2019 compared to the 2018 period.
- Net profit for the fourth quarter of 2019 was 1,327 kEUR, or
0.03 EUR per diluted share, compared to 525 kEUR, or 0.01 EUR per
diluted share, for the same period last year.
Full Year 2019:
- Total revenue increased 6.5% to 196,679 kEUR for 2019 from
184,721 kEUR for 2018.
- Adjusted EBITDA increased 13.3% to 26,656 kEUR for 2019 from
23,526 kEUR for 2018.
- Total deferred revenue from annual software sales and
maintenance contracts increased by 5,061 kEUR to 27,667 kEUR from
22,606 kEUR at the end of 2018.
- Net profit for 2019 was 1,724 kEUR, or 0.03 EUR per diluted
share, compared to 3,027 kEUR, or 0.06 EUR per diluted share, last
year.
Executive Chairman Peter Leys commented, “In 2019 we increased
our revenues by almost 12 million EUR and grew our deferred
revenues from software license and maintenance fees by an
additional 5 million EUR. Our Adjusted EBITDA rose by more than 13%
to 26,7 million EUR. Materialise Software and Materialise Medical
both achieved record quarterly revenues while Materialise
Manufacturing experienced headwinds from a difficult
macro-environment. We closed 2019 with cash and cash equivalents on
our balance sheet totaling almost 129 million EUR, an increase of
13 million EUR compared to year-end 2018. We believe our continued
solid and profitable growth and financial strength position us well
to expand our existing business and capture new growth
opportunities as our company enters its fourth decade and the
additive manufacturing market continues to develop.”
Fourth Quarter 2019 Results
Total revenue for the fourth quarter of 2019 increased 3.5% to
50,712 kEUR compared to 49,014 kEUR for the fourth quarter of 2018.
Adjusted EBITDA increased to 7,749 kEUR from 6,052 kEUR. The
Adjusted EBITDA margin (Adjusted EBITDA divided by total revenue)
for the fourth quarter of 2019 was 15.3% compared to 12.3% for the
fourth quarter of 2018.
Revenue from our Materialise Software segment increased 20.7% to
12,124 kEUR for the fourth quarter of 2019 from 10,044 kEUR for the
same quarter last year. Segment EBITDA increased to 5,026 kEUR from
2,969 kEUR while the segment EBITDA margin was 41.5% compared to
29.6% for the prior-year period.
Revenue from our Materialise Medical segment increased 14.1% to
17,209 kEUR for the fourth quarter of 2019 compared to 15,081 kEUR
for the same period in 2018, including the impact of Engimplan, the
Brazil-based manufacturer of orthopedic and cranio-maxillofacial
(CMF) implants and instruments in which we acquired a 75% stake on
August 1 2019. Compared to the fourth quarter of 2018, revenues
from medical devices and services grew 16.9%. Revenues from our
medical software grew 8.0% and deferred revenue from license and
maintenance fees within the segment increased by 926 kEUR compared
to the fourth quarter of 2018. Segment EBITDA was 3,468 kEUR
compared to 3,593 kEUR while the segment EBITDA margin was 20.1%
compared to 23.8% for the fourth quarter of 2018.
Revenue from our Materialise Manufacturing segment decreased
11.0% to 21,295 kEUR for the fourth quarter of 2019 from 23,926
kEUR for the fourth quarter of 2018. Segment EBITDA decreased to
1,761 kEUR from 1,983 kEUR while the segment EBITDA margin remained
flat at 8.3%.
Gross profit was 28,578 kEUR, or 56.4% of total revenue, for the
fourth quarter of 2019 compared to 27,261 kEUR, or 55.6% of total
revenue, for the fourth quarter of 2018.
Research and development (“R&D”), sales and marketing
(“S&M”) and general and administrative (“G&A”) expenses
increased, in the aggregate, 0.6% to 27,462 kEUR for the fourth
quarter of 2019 from 27,290 kEUR for the fourth quarter of
2018.
Net other operating income increased to 1,474 kEUR compared to
810 kEUR for the fourth quarter of 2018.
Operating result increased to 2,589 kEUR from 781 kEUR for the
fourth quarter of 2018.
Net financial result was (558) kEUR compared to (420) kEUR for
the fourth quarter of 2018. The share in loss of joint venture
amounted to (147) kEUR compared to (184) kEUR for the same period
in 2018.
The fourth quarter of 2019 contained income tax expenses of
(558) kEUR, compared to net tax income of 348 kEUR in the fourth
quarter of 2018.
As a result of the above, net profit for the fourth quarter of
2019 was 1,327 kEUR, compared to net profit of 525 kEUR for the
same period in 2018. Total comprehensive income for the fourth
quarter of 2019, which includes exchange differences on translation
of foreign operations, was 1,597 kEUR compared to 507 kEUR for the
2018 period.
Full Year 2019 Results
Total revenues for the year ended December 31, 2019 increased
6.5% to 196,679 kEUR compared to 184,721 kEUR for the year ended
December 31, 2018. Excluding the 2,437 kEUR revenue impact of
Engimplan, revenues increased 5.2%. Adjusted EBITDA for the year
ended December 31, 2019 was 26,656 kEUR, an increase of 13.3%
compared to 23,526 kEUR for the year ended December 31, 2018. The
Adjusted EBITDA margin increased to 13.6% from 12.7% in 2018.
Revenues from our Materialise Software segment increased 11.4%
to 41,654 kEUR for the year ended December 31, 2019 compared to
37,374 kEUR for the year ended December 31, 2018. The segment
EBITDA margin was 33.2% in 2019 compared to 30.9% in 2018.
Revenues from our Materialise Medical segment grew by 16.4% for
the year ended December 31, 2019 to 60,809 kEUR from 52,252 kEUR
for the year ended December 31, 2018. Medical software growth was
13.9%, and revenues from medical devices and services increased
17.6%, including Engimplan’s impact. The segment EBITDA margin was
17.7% in 2019, compared to 19.6% in 2018.
Revenues from our Materialise Manufacturing segment decreased
0.8% to 94,156 kEUR for the year ended December 31, 2019 from
94,956 kEUR for the year ended December 31, 2018. The segment
EBITDA margin increased from 11.4% for 2018 to 12.9% in 2019.
Operating profit improved 1,852 kEUR to 7,016 kEUR for the year
ended December 31, 2019 from 5,164 kEUR. The increased net
financial expenses of 1,070 kEUR and increased income tax expenses
of 2,170 kEUR impacted our net result. Accordingly, net profit
decreased to 1,724 kEUR for 2019 compared to 3,027 kEUR for
2018.
At December 31, 2019, we had cash and equivalents of 128,897
kEUR compared to 115,506 kEUR at December 31, 2018. Gross debt
amounted to 127,939 kEUR (including 5,160 kEUR of lease liabilities
recognized under the new accounting standard IFRS 16), compared to
106,037 kEUR at December 31, 2018.
Cash flow from operating activities for the year ended December
31, 2019 was 28,402 kEUR compared to 28,320 kEUR in the year ended
December 31,2018. Total capital expenditures for the year ended
December 31, 2019 amounted to 15,665 kEUR. This amount included
1,070 kEUR of capitalized R&D expenditures from medical
programs.
Net shareholders’ equity at December 31, 2019 was 142,675 kEUR
compared to 135,989 kEUR at December 31, 2018.
Note on Comparability
As a result of the implementation of the new accounting standard
IFRS 16, we recognized additional lease assets and liabilities in
the amount of 4,998 kEUR at January 1, 2019. At the end of the year
ended December 31, 2019, the total commitment of lease assets and
liabilities amounted to 5,025 kEUR. Our Adjusted EBITDA for the
year ended December 31, 2019 was affected positively by the new
standard as a result of the rental payments decrease of 2,580 kEUR;
however, our operating profit was impacted by (18) kEUR as
depreciation expenses increased by 2,597 kEUR. For the fourth
quarter of 2019 our Adjusted EBITDA was affected positively by 641
kEUR, while our operating profit was impacted by (93) kEUR and
depreciation expenses increased by 735 kEUR.
2020 Guidance
Mr. Leys concluded, “The additive manufacturing market continues
to evolve, with new applications steadily finding their way to
market. We intend to continue positioning Materialise to benefit
from these promising growth opportunities in the coming years. In
2020, we will dedicate significant attention to supporting the
development of a wide variety of meaningful end part applications
with our generic software tools, and, more specifically, to growing
a select number of key applications Materialise is more directly
involved in. In our Materialise Software segment, we intend to
maintain our leadership position in the existing service bureau
market and to grow our position in the expanding end part
manufacturing market through both innovation and strategic
partnerships. In our Materialise Medical segment, we intend to
continue penetrating the hospital market with our software tools
and simultaneously driving the next stage of innovation in the
orthopaedic, CMF and cardiovascular markets. In our Materialise
Manufacturing segment, we will increasingly focus on complex and
unique parts, in general, and on the growth of our wearables and
aviation initiatives, in particular.
“For fiscal 2020, which has started with some unexpected
challenges for businesses worldwide in connection with the COVID-19
virus, we expect to report consolidated revenue between 202,000
kEUR – 215,000 kEUR, with growth coming primarily from our
Materialise Software and Materialise Medical segments, and Adjusted
EBITDA between 27,500 kEUR – 30,000 kEUR. We expect the amount of
deferred revenue we generate from annual licenses and maintenance
in 2020 to increase by an amount between 3,000 kEUR – 5,000
kEUR.”
Non-IFRS Measures
Materialise uses EBITDA and Adjusted EBITDA as supplemental
financial measures of its financial performance. EBITDA is
calculated as net profit plus income taxes, financial expenses
(less financial income), shares of loss in a joint venture and
depreciation and amortization. Adjusted EBITDA is determined by
adding non-cash stock-based compensation expenses and
acquisition-related expenses of business combinations to EBITDA.
Management believes these non-IFRS measures to be important
measures as they exclude the effects of items which primarily
reflect the impact of long-term investment and financing decisions,
rather than the performance of the company’s day-to-day operations.
As compared to net profit, these measures are limited in that they
do not reflect the periodic costs of certain capitalized tangible
and intangible assets used in generating revenues in the company’s
business, or the charges associated with impairments. Management
evaluates such items through other financial measures such as
capital expenditures and cash flow provided by operating
activities. The company believes that these measurements are useful
to measure a company’s ability to grow or as a valuation
measurement. The company’s calculation of EBITDA and Adjusted
EBITDA may not be comparable to similarly titled measures reported
by other companies. EBITDA and Adjusted EBITDA should not be
considered as alternatives to net profit or any other performance
measure derived in accordance with IFRS. The company’s presentation
of EBITDA and Adjusted EBITDA should not be construed to imply that
its future results will be unaffected by unusual or non-recurring
items.
Exchange Rate
This document contains translations of certain euro amounts into
U.S. dollars at specified rates solely for the convenience of
readers. Unless otherwise noted, all translations from euros to
U.S. dollars in this document were made at a rate of EUR 1.00 to
USD 1.117319, the reference rate of the European Central Bank on
December 31, 2019.
Conference Call and Webcast
Materialise will hold a conference call and simultaneous webcast
to discuss its financial results for the fourth quarter of 2019 on
Wednesday March 4, 2020, at 8:30 a.m. ET/2:30 p.m. CET. Company
participants on the call will include Wilfried Vancraen, Founder
and Chief Executive Officer; Peter Leys, Executive Chairman; and
Johan Albrecht, Chief Financial Officer. A question-and-answer
session will follow management’s remarks.
- To access the conference call, please dial 844-469-2530 (U.S.)
or 765-507-2679 (international), passcode 7697685#.
The conference call will also be broadcast live over the
Internet with an accompanying slide presentation, which can be
accessed on the company’s website at
http://investors.materialise.com. A webcast of the conference call
will be archived on the company's website for one year.
About Materialise
Materialise incorporates 30 years of 3D printing experience into
a range of software solutions and 3D printing services, which form
the backbone of the 3D printing industry. Materialise’s open and
flexible solutions enable players in a wide variety of industries,
including healthcare, automotive, aerospace, art and design, and
consumer goods, to build innovative 3D printing applications that
aim to make the world a better and healthier place. Headquartered
in Belgium, with branches worldwide, Materialise combines one of
the largest groups of software developers in the industry with one
of the largest 3D printing facilities in the world. For additional
information, please visit: www.materialise.com.
Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, among other things, our intentions, beliefs,
assumptions, projections, outlook, analyses or current
expectations, plans, objectives, strategies and prospects, both
financial and business, including statements concerning, among
other things, current estimates of fiscal 2020 revenues, deferred
revenue from annual licenses and maintenance and Adjusted EBITDA,
results of operations, cash needs, capital expenditures, expenses,
financial condition, liquidity, prospects, growth and strategies
(including our strategic priorities for 2020), and the trends and
competition that may affect the markets, industry or us. Such
statements are subject to known and unknown uncertainties and
risks. When used in this press release, the words “estimate,”
“expect,” “anticipate,” “project,” “plan,” “intend,” “believe,”
“forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and
variations of such words or similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are based upon the expectations of management under
current assumptions at the time of this press release. These
expectations, beliefs and projections are expressed in good faith
and the company believes there is a reasonable basis for them.
However, the company cannot offer any assurance that our
expectations, beliefs and projections will actually be achieved. By
their nature, forward-looking statements involve risks and
uncertainties because they relate to events, competitive dynamics
and industry change, and depend on economic circumstances that may
or may not occur in the future or may occur on longer or shorter
timelines than anticipated. We caution you that forward-looking
statements are not guarantees of future performance and involve
known and unknown risks, uncertainties and other factors that are
in some cases beyond our control. All of the forward-looking
statements are subject to risks and uncertainties that may cause
the company's most recent actual results to differ materially from
our expectations, including risk factors described in the company's
most recent annual report on Form 20-F filed with the U.S.
Securities and Exchange Commission. There are a number of risks and
uncertainties that could cause the company's actual results to
differ materially from the forward-looking statements contained in
this press release.
The company is providing this information as of the date of this
press release and does not undertake any obligation to update any
forward-looking statements contained in this press release as a
result of new information, future events or otherwise, unless it
has obligations under the federal securities laws to update and
disclose material developments related to previously disclosed
information.
Consolidated income statements (Unaudited)
For the three months ended
December 31,
For the twelve months ended
December 31,
In 000, except per share amounts
2019
2019
2018
2019
2018
U.S.$
€
€
€
€
Revenue
56,660
50,712
49,014
196,679
184,721
Cost of sales
(24,730)
(22,134)
(21,753)
(86,972)
(82,299)
Gross profit
31,930
28,578
27,261
109,707
102,422
Gross profit as % of revenue
56.4%
56.4%
55.6%
55.8%
55.4%
Research and development expenses
(6,633)
(5,937)
(5,335)
(23,348)
(22,416)
Sales and marketing expenses
(15,857)
(14,192)
(12,571)
(52,989)
(46,303)
General and administrative expenses
(8,194)
(7,333)
(9,384)
(31,786)
(32,310)
Net other operating income (expenses)
1,646
1,474
810
5,432
3,771
Operating (loss) profit
2,893
2,589
781
7,016
5,164
Financial expenses
(1,156)
(1,035)
(1,308)
(3,682)
(4,864)
Financial income
533
477
888
1,377
3,627
Share in loss of joint venture
(164)
(147)
(184)
(392)
(475)
(Loss) profit before taxes
2,106
1,885
177
4,319
3,452
Income taxes
(623)
(558)
348
(2,595)
(425)
Net (loss) profit for the
period
1,483
1,327
525
1,724
3,027
Net (loss) profit attributable to:
The owners of the parent
1,475
1,321
525
1,646
3,027
Non-controlling interest
8
7
–
79
–
Earnings per share attributable to
owners of the parent
Basic
0.03
0.03
0.01
0.03
0.06
Diluted
0.03
0.03
0.01
0.03
0.06
Weighted average basic shares
outstanding
52,891
52,891
52,882
52,891
49,806
Weighted average diluted shares
outstanding
53,797
53,797
53,761
53,779
50,609
Consolidated statement of comprehensive income
(Unaudited)
For the three months ended
December 31,
For the twelve months ended
December 31,
In 000
2019
2019
2018
2019
2018
U.S.$
€
€
€
€
Net profit (loss) for the
period
1,483
1,327
525
1,724
3,027
Other comprehensive income
Exchange difference on translation of
foreign operations
165
148
(18)
245
(47)
Other comprehensive income (loss), net of
taxes
165
148
(18)
245
(47)
Total comprehensive income (loss) for
the year, net of taxes
1,648
1,475
507
1,969
2,980
Total comprehensive income (loss)
attributable to:
The owners of the parent
1,784
1,597
507
2,102
2,980
Non-controlling interest
(136)
(122)
–
(133)
–
Consolidated statement of financial position
(Unaudited)
As of December 31,
As of December 31,
In 000
2019
2018
€
€
Assets
Non-current assets
Goodwill
20,174
17,491
Intangible assets
27,395
26,326
Property, plant & equipment
100,917
92,537
Investments in joint ventures
39
Deferred tax assets
192
315
Other non-current assets
9,391
7,237
Total non-current assets
158,108
143,906
Current assets
Inventories & contracts in
progress
12,696
9,986
Trade receivables
40,322
36,891
Other current assets
9,271
6,936
Cash and cash equivalents
128,897
115,506
Total current assets
191,186
169,319
Total assets
349,294
313,225
As of December 31,
As of December 31,
In 000
2019
2018
€
€
Equity and liabilities
Equity
Share capital
3,066
3,050
Share premium
138,090
136,637
Consolidated reserves
(195)
(1,848)
Other comprehensive loss
(1.394)
(1,850)
Equity attributable to the owners of
the parent
139,567
135,989
Non-controlling interest
3,107
–
Total equity
142,675
135,989
Non-current liabilities
Loans & borrowings
111,100
92,440
Deferred tax liabilities
5,747
6,226
Deferred income
5,031
4,587
Other non-current liabilities
696
868
Total non-current liabilities
122,575
104,121
Current liabilities
Loans & borrowings
16,839
13,598
Trade payables
18,516
18,667
Tax payables
3,363
2,313
Deferred income
27,641
23,195
Other current liabilities
17,686
15,342
Total current liabilities
84,044
73,115
Total equity and liabilities
349,294
313,225
Consolidated statement of cash flows (Unaudited)
For the twelve months ended
December 31,
in 000
2019
2018
€
€
Operating activities
Net profit for the period
1,724
3,027
Non-cash and operational adjustments
Depreciation of property, plant &
equipment
14,339
12,223
Amortization of intangible assets
4,859
5,064
Share-based payment expense
(9)
1,075
Loss (gain) on disposal of property, plant
& equipment
165
(83)
Movement in provisions
138
5
Movement reserve for bad debt
121
1,293
Financial income
(1,383)
(581)
Financial expense
3,693
2,172
Impact of foreign currencies
(176)
(299)
Share in loss of a joint venture (equity
method)
392
475
(Deferred) income taxes
2,593
425
Other
64
(105)
Working capital adjustment & income
tax paid
Increase in trade receivables and other
receivables
216
(3,156)
Decrease (increase) in inventories
(745)
812
Increase in trade payables and other
payables
4,196
7,341
Income tax paid & interest
received
(1,783)
(1 368)
Net cash flow from operating
activities
28,402
28,320
For the twelve months ended
December 31,
in 000
2019
2018
€
€
Investing activities
Purchase of property, plant &
equipment
(13,472)
(18,270)
Purchase of intangible assets
(2,193)
(1,836)
Proceeds from the sale of property, plant
& equipment & intangible assets (net)
278
281
Other equity investments in non-listed
entities
(281)
(2,671)
Investments in joint ventures
(875)
--
Convertible loan to third party
(2,743)
–
Investments in subsidiary, net of cash
acquired
(6,331)
–
Interest received
-
363
Net cash flow used in investing
activities
(25,617)
(22,133)
Financing activities
Proceeds from loans & borrowings
29,000
32,554
Repayment of loans & borrowings
(12,126)
(18,820)
Repayment of finance leases
(5,283)
(3,102)
Capital increase in parent company
1,268
60,489
Direct attributable expense of capital
increase
–
(4,003)
Interest paid
(2,286)
(1,733)
Other financial income (expense)
208
(150)
Net cash flow from (used in) financing
activities
10,782
65,235
Net increase of cash & cash
equivalents
13,566
71,422
Cash & cash equivalents at beginning
of the year
115,506
43,175
Exchange rate differences on cash &
cash equivalents
-173
908
Cash & cash equivalents at end of
the period
128,897
115,506
Reconciliation of Net Profit (Loss) to EBITDA and Adjusted
EBITDA (Unaudited)
For the three months ended
December 31,
For the twelve months ended
December 31,
In 000
2019
2018
2019
2018
€
€
€
€
Net profit (loss) for the
period
1,327
525
1,724
3,027
Income taxes
(558)
(348)
2,595
425
Financial expenses
1,035
1,308
3,682
4,864
Financial income
(477
)
(888
)
(1,377)
(3,627)
Share in loss of joint venture
147
184
392
475
Depreciation and amortization
5,115
4,753
19,198
17,287
EBITDA
7,705
5,534
26,214
22,451
Non-cash stock-based compensation expense
(1)
44
518
302
1,075
Acquisition-related expenses of business
combinations (2)
–
140
–
ADJUSTED EBITDA
7,749
6,052
26,656
23,526
(1)
Non-cash stock-based compensation expense
represents the cost of equity-settled and cash-settled share-based
payments to employees.
(2)
Acquisition-related expenses of business
combinations represents expenses incurred in connection with the
Engimplan acquisition.
Segment P&L (Unaudited)
In 000
Materialise Software
Materialise Medical
Materialise Manu-
facturing
Total segments
Unallocated (1)(2)
Consoli- dated
€
€
€
€
€
€
For the three months ended December 31,
2019
Revenues
12,124
17,209
21,295
50,628
84
50,712
Segment EBITDA
5,026
3,468
1,761
10,255
(2,506)
7,749
Segment EBITDA %
41.5%
20.1%
8.3%
20.3%
15.3%
For the three months ended December 31,
2018
Revenues
10,044
15,081
23,926
49,051
(37)
49,014
Segment EBITDA
2,969
3,593
1,983
8,545
(2,492)
6,052
Segment EBITDA %
29.6%
23.8%
8.3%
17.4%
12.3%
In 000
Materialise Software
Materialise Medical
Materialise Manu-
facturing
Total segments
Unallocated (1)(2)
Consoli- dated
€
€
€
€
€
€
For the twelve months ended December
31, 2019
Revenues
41,654
60,809
94,156
196,619
61
196,679
Segment EBITDA
13,812
10,774
12,154
36,740
(10,526)
26,656
Segment EBITDA %
33.2%
17.7%
12.9%
18.7%
13.6%
For the twelve months ended December
31, 2018
Revenues
37,374
52,252
94,956
184,582
139
184,721
Segment EBITDA
11,536
10,252
10,785
32,573
(10,122)
23,526
Segment EBITDA %
30.9%
19.6%
11.4%
17.6%
12.7%
(1)
Unallocated Revenues consists of
occasional one-off sales in our core competencies not allocated to
any of our segments.
(2)
Unallocated segment EBITDA consists of corporate research and
development, corporate headquarter costs and other operating income
(expense), and the added non-cash stock-based compensation expenses
and acquisition related expenses of business combinations that are
included in Adjusted EBITDA.
Reconciliation of Net Profit (Loss) to Segment EBITDA
(Unaudited)
For the three months
ended December 31,
For the twelve months
ended December 31,
In 000
2019
2018
2019
2018
€
€
€
€
Net profit (loss) for the
period
1,327
525
1,724
3,027
Income taxes
558
(348)
2,595
425
Financial cost
1,035
1,308
3,682
4,864
Financial income
(477)
(888)
(1,377)
(3,627)
Share in loss of joint venture
147
184
392
475
Operating profit
2,590
781
7,016
5,164
Depreciation and amortization
5,115
4,753
19,198
17,287
Corporate research and development
456
444
1,798
1,913
Corporate headquarter costs
2,573
2,844
10,547
10,358
Other operating income (expense)
(479)
(277)
(1,819)
(2,149)
Segment EBITDA
10,255
8,545
36,740
32,573
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200304005085/en/
Investor Relations Harriet Fried LHA 212.838.3777
hfried@lhai.com
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