Five things to know:
1. The salary cuts will be for at least an eight-week period, beginning in April.
2. Orthofix plans to use $100 million from its existing credit facility in April to maintain liquidity and has applied for accelerated payments from the Medicare program through the CARES Act.
3. First-quarter revenue is expected to be between $104 million and $105 million, based on preliminary projections.
4. Cash, cash equivalents and restricted cash was about $58 million as of March 31.
5. The company will provide further updates during its first-quarter earnings call on May 7.
More articles on devices:
Dr. Daniel Yoshor excited by new challenge at Penn Medicine
New York neurosurgeon recovers from COVID-19, volunteers at hospital ICU
Neurosurgeon, dentist’s 3D printed masks evolved production, being made worldwide: 5 details
