MTS Systems Corporation provided earnings guidance for the second quarter of fiscal year ended March 28, 2020. The company's revenue is expected to be in the range of $205 million to $215 million. Due to cost reduction actions that will impact the second quarter of fiscal 2020, the company expects to incur a loss in the range of $0.04 to $0.09 loss per share on a GAAP basis. Net loss expected to be in the range of $1.8 million to $0.7 million.

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.