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Tobii provides updates on actions and effects of COVID-19 on operations.

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NORDIC BUSINESS REPORT-April 8, 2020-Tobii provides updates on actions and effects of COVID-19 on operations

(C)2020 M2 COMMUNICATIONS http://www.m2.com

Tobii AB (STO:TOBII), a provider of eye tracking solutions, on Tuesday provided an update on the COVID-19 pandemic and stated that to date its organisation has essentially been fully operational, although most of the staff has been instructed to work from home.

As a result of measures taken, Tobii said it has not seen any significant disruption to the supply of products. However, Tobii has many customers in Japan and China, countries that early on enforced significant travel restrictions and closed schools, universities and office locations. Revenues from these markets have therefore decreased in the first quarter of 2020, mainly for the division Tobii Pro. All in all, Tobii expects its first quarter 2020 revenues to be around SEK380m, which is about 5% higher than the revenues of the first quarter 2019.

Also, since the global effects of the pandemic are still highly uncertain, Tobii expects all of its three divisions to be negatively impacted in the short term, mainly due to lockdown regulations in many countries, which make it difficult for Tobii to reach and service its customers. Once these restrictions are lifted, Tobii expects revenues to re-bound, as there is likely to be...

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