Card Guard cuts sales guidance:
This article was originally published in Clinica
Executive Summary
Swiss telemedicine company Card Guard is attaching more conservative payment terms to the delivery of large order technology products, which will lead to lower-than-expected revenues. The company is cutting guidance for 2002 to $70m. In order to protect its profitability, the Schaffhausen-based company also plans to carry out various cost-cutting measures from the third quarter. The company, which has subsidiaries in the US, Israel, Europe, Brazil, Canada and Japan, will release second-quarter results on August 13.