GoPro today reiterated that it does not expect the recently announced tariffs to have an impact on its second half 2019 financial performance as most of its U.S. bound camera production will come from Mexico in the second half of 2019.
“As previously stated, we began production in Guadalajara, Mexico of our U.S. bound cameras in June to support sales beginning in the third quarter of 2019,” said Brian McGee, Executive Vice President and CFO. “This shift, along with proactive inventory realignment and global channel management supports our goals of driving growth, protecting our balance sheet and neutralizing the impact of tariffs.”
The company began production in Guadalajara, Mexico of U.S. bound cameras to support sales. The company’s decision to move most of our U.S. bound production to Mexico supports its goal to insulate it against possible tariffs as well as recognize some cost savings and efficiencies.”
GoPro will present at the Citi Global Technology Conference in New York City at 11 a.m. Eastern Time on Wednesday, September 4, 2019. The presentation will be webcast on the investor relations section of GoPro’s website at https://investor.gopro.com/overview/default.aspx.