Intricon Announces CFO Departure and Preliminary Third Quarter 2021 Revenue
29 Outubro 2021 - 5:05PM
Intricon Corporation (NASDAQ: IIN), an international joint
development manufacturer engaged in designing, developing,
engineering, manufacturing, and packaging miniature interventional,
implantable and body-worn medical devices, announced today that
Ellen Scipta has stepped down from her position as Chief Financial
Officer, effective October 29, 2021. Annalee Lutgen, current
Treasurer and Director of Finance, will serve as interim Chief
Financial Officer effective upon Ms. Scipta’s resignation as the
company conducts its search for a permanent replacement.
"We appreciate the contributions Ellen has made
to Intricon during her tenure here and wish her well in future
endeavors,” said Scott Longval, CEO.
"Given Annalee’s strong knowledge of our
business and financial reporting standards following a nearly
12-year tenure with Intricon, I have great confidence in her
ability to lead the finance team on an interim basis as we recruit
a new chief financial officer,” added Longval.
Ms. Lutgen joined Intricon in 2010 as Corporate
Controller and has since gained increasing responsibility for the
accounting and finance functions of the company. Prior to joining
Intricon, Ms. Lutgen was a manager with Grant Thornton. She is a
Certified Professional Accountant (Minnesota) and holds an MBA from
St. Cloud State University.
Ms. Scipta’s departure is not related to any
disagreement with the company’s accounting principles or practices
or financial statement disclosures.
Preliminary Third Quarter Revenue Results
Intricon expects preliminary revenue of approximately $31.1 million
for the three months ended September 30, 2021, a 13.5% increase
compared to the prior year period. The company plans to release its
full 2021 third quarter results on Monday, November 8, 2021, after
market close. Following the release, Intricon’s management team
will host a conference call beginning at 4:00 p.m. CT/5:00 p.m.
ET.
Forward-Looking StatementsStatements made in
this release and in Intricon’s other public filings and releases
that are not historical facts or that include forward-looking
terminology, including estimates of future results, are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements may be affected by known and unknown risks,
uncertainties and other factors that are beyond Intricon’s control,
including without limitation, the impacts of the COVID-19 pandemic
and measures taken in response, and may cause Intricon’s actual
results, performance or achievements to differ materially from the
results, performance and achievements expressed or implied in the
forward-looking statements. These risks, uncertainties and other
factors are detailed from time to time in the company’s filings
with the Securities and Exchange Commission, including the Annual
Report on Form 10-K for the year ended December 31, 2020. The
company disclaims any intent or obligation to publicly update or
revise any forward-looking statements, regardless of whether new
information becomes available, future developments occur or
otherwise.
About Intricon CorporationIntricon is
a joint development manufacturer that integrates micromedical
components and assemblies to advance technology across a range of
device platforms for global
customers. Intricon approaches each engagement with an
all-in commitment, working with customers every step of the way-
from the earliest idea stages to ongoing production - in order to
advance program performance and deliver results. With a focus on
key device platforms, Intricon helps advance clinical
outcomes by always looking ahead with proactive support and
resources through integration of its core
competencies. Intricon has facilities in the United
States, Asia and Europe. The company's common stock
trades under the symbol "IIN" on the NASDAQ Global Market.
Investor ContactLeigh Salvo(415)
937-5404 investorrelations@intricon.com
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