PARIS — Smallsat manufacturer GomSpace A/S reported a 13% decline in revenue and sharply lower gross margin in Q1 2021 as several ongoing projects took more resources than expected.
GomSpace told shareholders that what it called “unexpected late-stage events” in the affected projects had been resolved. Gross margin dropped to 3% compared to 24% in the previous quarter and 13% for the whole of 2020.
Sweden- and Denmark-based GomSpace said the revenue and profit shortfall during the quarter will not affect the company’s expected . . .
To view the entire article, become a subscriber!
