Business
CORRECTING and REPLACING OneSpaWorld Reports Third Quarter Fiscal 2020 Financial Results
Ends Third Quarter with Total Liquidity of $62.2 Million Company Expects Liquidity to be Sufficient to Sustain Operations with no Significant Voyages through
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nEnds Third Quarter with Total Liquidity of $62.2 Million \n\nCompany Expects Liquidity to be Sufficient to Sustain Operations with no Significant Voyages through December 2021 \n\n NASSAU, Bahamas--(BUSINESS WIRE)--\n\nThe first bullet of the Year-to-date September 30, 2020 Highlights section should read as, \"Total revenues decreased 72% to $117.1 million compared to $422.8 million...\" (instead of \"Total revenues decreased 62% to $117.1 million compared to $304.3 million...\").\n\nThe updated release reads: \n\nONESPAWORLD REPORTS THIRD QUARTER FISCAL 2020 FINANCIAL RESULTS\n\nEnds Third Quarter with Total Liquidity of $62.2 Million \n\nCompany Expects Liquidity to be Sufficient to Sustain Operations with no Significant Voyages through December 2021 \n\nOneSpaWorld Holdings Limited (NASDAQ: OSW) (“OneSpaWorld,” or the “Company”), the pre-eminent global provider of health and wellness products and services on board cruise ships and in destination resorts around the world, today announced its financial results for the third quarter ended September 30, 2020. The Company noted that it is issuing its Third Quarter Fiscal 2020 results today given that certain government offices are scheduled to be closed tomorrow in observance of Veterans Day, a federal holiday, which could impact the filing of Securities and Exchange Commission documents. The Company’s conference call to review its third quarter fiscal 2020 results will continue to be held on November 11, 2020 at 10am ET.\n\nThe Company’s third quarter performance was materially impacted by the global COVID-19 pandemic, including actions taken by cruise lines, hotels and resorts and governmental authorities around the world. These actions include the U.S. Centers for Disease Control and Prevention’s (“CDC”) No Sail Order issued on March 14, 2020 and extended on April 9, 2020, July 16, 2020 and September 30, 2020 to continue until the earliest of: (1) the expiration of the Secretary of Health and Human Services’ declaration that COVID-19 constitutes a public health emergency, (2) the CDC Director rescinds or modifies the order based on specific public health or other considerations, or (3) October 31, 2020.\n\nOn October 30, 2020, the CDC issued a Framework for Conditional Sailing Order, which will remain in effect until the earliest of: (1) the expiration of the Secretary of Hea...