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Wednesday, April 1, 2020

CryoLife withdraws guidance amid COVID-19

Citing uncertainties related to the COVID-19 pandemic, CryoLife (NYSE:CRY) has withdrawn its 2020 guidance, although it expects Q1’s top line to be ~$65.5M, a bit shy of its previous outlook of $67M – 69M.
As a precautionary measure, it borrowed the entire available amount under its $30M credit revolver. As of the end of March, it had over $60M in cash and equivalents.
https://seekingalpha.com/news/3557547-cryolife-withdraws-guidance-amid-covidminus-19

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