Fox Factory Holding Corp. Provides Business Update Related to COVID-19 - Seite 2

Due to the rapidly evolving market conditions domestically and internationally in response to the continued spread of COVID-19, the Company is suspending its full fiscal year 2020 guidance previously provided on March 3, 2020. The Company currently expects to maintain compliance with its amended and restated credit agreement executed in connection with the closing of the SCA Performance Holdings, Inc. acquisition.

The Company will report first quarter fiscal year 2020 financial results on May 6, 2020 and does not plan to provide preliminary financial results in the future other than in unique circumstances, or in the event of a material event that requires disclosure.

The Company is including in this press release measures that are not in accordance with generally accepted accounting principles (“GAAP”), including “non-GAAP adjusted earnings per diluted share.” Non-GAAP adjusted earnings per diluted share excludes the following items net of applicable tax: amortization of purchased intangibles, patent litigation-related expenses, acquisition and integration-related expenses, impacts of mandated closures related to COVID-19, strategic transformation costs, and costs related to tax restructuring initiatives. Additionally, non-GAAP adjusted earnings per diluted share excludes the tax benefit related to the resolution of audits by taxing authorities. A quantitative reconciliation of non-GAAP adjusted earnings per diluted share for the first quarter of fiscal year 2020 is not available without unreasonable efforts because management cannot predict, with sufficient certainty, all of the elements necessary to provide such a reconciliation.

About Fox Factory Holding Corp. (NASDAQ: FOXF)

Fox Factory Holding Corp. designs and manufactures performance-defining ride dynamics products primarily for bicycles, on-road and off-road vehicles and trucks, side-by-side vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks. The Company is a direct supplier to leading powered vehicle original equipment manufacturers (“OEMs”). Additionally, the Company supplies top bicycle OEMs and their contract manufacturers, and provides aftermarket products to retailers and distributors.