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Limbach Holdings Announces Certain Preliminary Expected Fiscal Year 2019 Results
Preliminary Expected Results within Previously Issued Guidance Ranges Provides Update on Form 10-K Filing PITTSBURGH--(BUSINESS WIRE)-- Limbach Holdings,
About this update from Limbach Holdings, Inc.
[{"type":"text","content":"\nPreliminary Expected Results within Previously Issued Guidance Ranges\n\n\nProvides Update on Form 10-K Filing\n\n PITTSBURGH--(BUSINESS WIRE)--\nLimbach Holdings, Inc. (NASDAQ: LMB) (“Limbach” or the “Company”) today announced that the Company expects to report preliminary select financial results for the year ended December 31, 2019 and narrow the guidance ranges for both Revenue and Adjusted EBITDA that were previously announced on November 14, 2019. Revenue is now expected to be within the range of $550 million and $555 million. Adjusted EBITDA is now expected to be within the range of $14 million and $17 million. Cash and cash equivalents at December 31, 2019 was $8.3 million.\n\n\nThe estimated full year results are preliminary and unaudited and subject to the completion and finalization of fourth-quarter and year-end financial and accounting procedures, and reflect management’s estimate based solely upon information available to management as of the date of this press release. Further information learned during that completion and finalization may alter the final results. The preliminary estimates should not be viewed as a substitute for full year financial statements prepared in accordance with generally accepted accounting principles in the United States of America.\n\n\nThe Company also announced that in light of the circumstances and uncertainty surrounding the effects of the Coronavirus (COVID-19) pandemic on Limbach’s business, customers, employees, subcontractors and supply chain, consultants, service providers, stockholders, investors and other stakeholders, the Company’s board of directors and management has determined that it will delay the filing of its Annual Report on Form 10-K for the year ended December 31, 2019 (the “Annual Report”) by up to 45 days in accordance with the U.S. Securities and Exchange Commission’s (“SEC”) March 4, 2020 Order (Release No. 34-88318) (the “Order”), which allows for the delay of certain filings required under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company will file its Annual Report by no later than May 14, 2020, which is 45 days after the original due date of its Annual Report.\n\n\nManagement Commentary\n\n\nThe Company’s immediate focus is on the well-being of everyone on the Limbach team, their families, and the communities in which they...