Technicolor releases full year 2021 results, reporting growth amidst challenges
On February 24, 2022, Technicolor released the company's 2021 financial results. The company reported it reached its 2021 goals despite volatility in the business environment. In the year the company stated that its revenue declined which the company linked to its Connected Home division being negatively affected by supply-chain shortages. As a result, this division was unable to satisfy consumer demand in the year, hurting growth at the same time. Despite this news, the company cited that its profit increased over time due to the company initiating cost reduction strategies which helped improved operational efficiency in the year.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
Lorem Ipsum text header Report Title
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maecenas non leo lacinia, consectetur ipsum non, pretium augue. Vestibulum accumsan dignissim massa, eu scelerisque mi malesuada ut. Aliquam scelerisque facilisis nisl ac varius. Nunc luctus nunc vel eros iaculis, vitae tristique ante fringilla. Ut vitae vulputate est, vel lacinia nisi. Curabitur eget nulla vitae mi faucibus imperdiet. Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.
Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.