MTS Systems Corporation Provides Earnings Guidance for the Second Quarter of Fiscal Year Ended March 28, 2020; Withdraws Financial Guidance for the Fiscal Year Ending October 3, 2020 Due to COVID-19
The company announced as an essential critical infrastructure business, it will maintain U.S. operations and plan to continue to operate in other parts of the world as permissible. The company expects that restrictions on the company's employees' ability to access the company's customers and the temporary closures of the company's facilities or the facilities of the company's customers will negatively impact the company's sales and operating results for fiscal year 2020. At this date, given the uncertainties in the business environment, it cannot accurately predict the specific extent, or duration, of the impact of COVID-19 on the financial results. As a result, it is withdrawing financial guidance for the fiscal year ending October 3, 2020.