Item 7.01. Regulation FD Disclosure.
On
The information in this Item 7.01 of Form 8-K, including Exhibit 99.1, is being
furnished and shall not be deemed incorporated by reference into any other
filing with the
Item 8.01. Other Events.
The Company is filing this Item 8.01 on this Current Report on Form 8-K to
supplement the risk factors described in Item 1A of the Company's Annual Report
on Form 10-K for the fiscal year ended
The extent to which the novel coronavirus ("COVID-19") outbreak will adversely impact our business, financial condition and results of operations is highly uncertain and cannot be predicted.
The global spread of COVID-19 has created significant worldwide operational volatility, uncertainty and disruption. The extent to which COVID-19 will adversely impact our business, financial condition and results of operations will depend on numerous evolving factors, which are highly uncertain, rapidly changing and cannot be predicted, including:
• the duration and scope of the outbreak; • governmental, business and individual actions that have been and continue to be taken in response to the outbreak, including travel restrictions, quarantines, social distancing, work-at-home, stay-at-home and shelter-in-place orders and shut-downs; • the impact of the outbreak on the financial markets and economic activity generally; • the effect of the outbreak on our clients and other business partners; • our ability to access usual sources of liquidity on reasonable terms; • our ability to comply with the financial covenant in our Credit Agreement if a material economic downturn results in increased indebtedness or substantially lower EBITDA; • our ability during the outbreak to provide our services, including the health and wellbeing of our employees; and • the ability of our clients to pay for our services during and following the outbreak.
The COVID-19 outbreak has significantly increased financial and economic volatility and uncertainty. A continued slowdown or downturn in the economy has begun to have, and we expect will continue to have, a negative impact on many of our clients. In the past, some clients have responded to weak economic and financial conditions by reducing their marketing budgets, thereby decreasing the market and demand for our services. All of the foregoing will likely impact our business, financial condition, results of operations and forward-looking expectations.
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Item 9.01. Financial Statements and Exhibits.
Exhibit 99.1: Press release datedMarch 26, 2020 (furnished pursuant to Item 7.01). Exhibit 104: Cover Page Interactive Data File - the cover page XBRL tags are embedded within the inline XBRL document (included as Exhibit 101).
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