DMC GLOBAL SAYS PRIOR FINANCIAL GUIDANCE NO LONGER VALID
BROOMFIELD, Colo., March 16, 2020 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today said its first-quarter and full-year 2020 financial guidance provided on February 20, 2020, is no longer valid.
“The economic impact of the Coronavirus coupled with heightened instability in the international crude market has created substantial uncertainty in the energy sector, and has limited our near-term visibility,” said Kevin Longe, president and CEO. “We are well positioned to navigate these challenges, as we have established the industry’s leading technology portfolio, a team of talented and dedicated employees and a strong balance sheet. We will update our 2020 outlook when our visibility improves.”
About DMC
DMC Global is a diversified holding company. Our innovative businesses provide differentiated products and services to niche industrial and commercial markets around the world. DMC’s objective is to identify well-run businesses and strong management teams and support them with long-term capital and strategic, legal, technology and operating resources. Our approach helps our portfolio companies grow core businesses, launch new initiatives, upgrade technologies and systems to support their long-term strategy, and make acquisitions that improve their competitive positions and expand their markets. DMC’s culture is to foster local innovation versus centralized control, and stand behind our businesses in ways that truly add value. Today, DMC’s portfolio consists of DynaEnergetics and NobelClad, which collectively address the energy, industrial processing and transportation markets. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit the Company’s website at:
CONTACT:
Geoff High, Vice President of Investor Relations
303-604-3924
