Intertape Polymer Group Inc. provided financial guidance for the fiscal year 2020. The Company's expectations for fiscal year 2020, including the impact of the Nortech Acquisition and excluding any additional merger and acquisitions activity that takes place in 2020, are as follows: Revenue in 2020 is expected to be between USD 1,135 and USD 1,200 million. This range reflects expectations for the remainder of 2020, rather than the first quarter of 2020 as the COVID-19 virus effects have not materially impacted results to date. The outlook range reflects management's best estimate as of March 12, 2020 of potential uncertainties over the remainder of 2020 given COVID-19. The range excludes any significant unforeseen fluctuations in raw material prices which can have a direct impact on selling prices.

The company reported impairment of inventories was USD 1,629,000 for the fourth quarter ended December 31, 2019 against reversal of impairments of USD 248,000 a year ago.