LUXEMBOURG, April 15, 2020 /PRNewswire/ -- Globant (NYSE:
GLOB), a digitally native technology services
company, today announced that it expects first quarter 2020
revenues to be at least $190 million,
implying at least 30.0% year-over-year growth, and that it
continues to expect first quarter 2020 adjusted diluted EPS to be
at least $0.62. At the same time,
Globant announced that it is withdrawing its full year 2020
guidance due to the current uncertainty resulting from the outbreak
of the COVID-19 pandemic. In this respect the Company mentioned
that, while its business outlook, cash and liquidity position
remains strong, it considers that the ongoing uncertainty as to the
impact of the pandemic on global economic conditions makes it
difficult to predict full year 2020 results with sufficient
accuracy.
Globant has been monitoring government actions taken to curb the
spread of the virus very closely and has rapidly responded to
ensure business continuity since early days, taking concrete
measures designed to ensure the health and safety of its Globers
and its business.
The Company created a committee that is leading all its efforts
to secure business continuity, including moving more than 99.5% of
its employees to working from home, without disrupting operations
while maintaining its unique culture with diverse virtual
initiatives.
In addition, Globant has been and continues to be very active in
helping communities better deal with this challenging situation.
The Company is doing this through various volunteering projects,
including the development of a series of applications and tools
that it is donating to governments and institutions, deploying
different courses and trainings aimed at helping schools become
digital and printing medical supplies with 3D printers.
Globant has also created specific service offerings to guide
companies as they face the new reality. Globant's Augmented
Collaboration approach aims to deploy Artificial Intelligence as a
propeller of decentralized teams. The suite includes StarMeUp OS to
promote internal culture and employee engagement, Augmented Coding
to improve developers' performance, and Agile Pods to increase
productivity. Also, Globant's Business Continuity approach provides
insights that are meant to help organizations create the right
strategy to remain at the forefront of users' expectations.
To access the complete list of programs, donations and service
offerings implemented by the Company to help communities and
companies face this situation, visit
https://takingcare.globant.com.
The Company is strongly positioned as a pure digital player to
lead the way by helping organizations adapt to this new
environment. The current situation will create new opportunities as
it pushes companies to reinvent themselves and move further into
their digital and cognitive transformation. As a leader in this
arena, Globant is extremely well placed to partner with companies
and lead this path.
"During these challenging times, Globant will continue taking
good care of its employees, partnering with our customers and
vendors, and assisting the communities where we operate", stated
Martin Migoya, Globant CEO and
co-founder.
About Globant (NYSE:GLOB)
We are a digitally native company where innovation, design and
engineering meet scale. We use the latest technologies in the
digital and cognitive field to empower organizations in every
aspect.
We have more than 11,800 employees and we are present in 17
countries working for companies like Google, Southwest Airlines, EA
and BBVA, among others.
We were named a Worldwide Leader of Digital Strategy Consulting
Services by IDC MarketScape report (2016 and 2017). We were also
featured as a business case study at Harvard, MIT, and
Stanford. We are a member of the
Cybersecurity Tech Accord (2019).
For more information, visit www.globant.com
Forward Looking Statements
In addition to historical information, this release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify forward-looking statements by terminology such as
"believe," "may," "will," "estimate," "continue," "anticipate,"
"intend," "should," "plan," "expect," "predict," "potential," or
the negative of these terms or other similar expressions. These
statements include, but are not limited to, statements regarding
our future financial and operating performance, including our
outlook and guidance, and our strategies, priorities and business
plans. Our expectations and beliefs regarding these matters may not
materialize, and actual results in future periods are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected. Factors that could impact our
actual results include: the impact and duration of the Covid-19
pandemic; our ability to maintain current resource utilization
rates and productivity levels; our ability to manage attrition and
attract and retain highly-skilled IT professionals; our ability to
accurately price our client contracts; our ability to achieve our
anticipated growth; our ability to effectively manage our rapid
growth; our ability to retain our senior management team and other
key employees; our ability to continue to innovate and remain at
the forefront of emerging technologies and related market trends;
our ability to retain our business relationships and client
contracts; our ability to manage the impact of global adverse
economic conditions; our ability to manage uncertainty concerning
the instability in the current economic, political and social
environment in Latin America; and
other factors discussed under the heading "Risk Factors" in our
most recent Form 20-F filed with the U.S. Securities and Exchange
Commission.
Because of these uncertainties, you should not make any
investment decisions based on our estimates and forward-looking
statements. Except as required by law, we undertake no
obligation to publicly update any forward-looking statements for
any reason after the date of this press release whether as a result
of new information, future events or otherwise.
Investor Relations Contact:
Paula Conde & Amit Singh, Globant
investors@globant.com
+1 (877) 215-5230
Media Contact:
Wanda Weigert, Globant
pr@globant.com
+1 (877) 215-5230
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SOURCE Globant