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New York, April 30, 2021 (GLOBE NEWSWIRE)
With the outbreak of Coronavirus pandemic worldwide resulting in factory shutdowns, many supply chain problems surfaced on a massive level, further creating mayhem among manufacturers and retailers. COVID-19 has also affected the revenue of various key players in the market owing to which, it is estimated that there will be very few new entrants in the market. Despite not being prepared for this hit and the prevailing complexities related to supply chains, companies are embracing new technologies to ease the persisting burden of supply of raw material required for the manufacturing of SONAR systems. Moreover, during the crisis, some of the companies collaborated for new product developments in order to gain upper hand in the SONAR system market.
Raytheon Technologies Corp (RTX) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Raytheon Technologies Corp (NYSE: RTX)
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Operator
Good day, ladies and gentlemen, and welcome to the Raytheon Technologies First Quarter 2021 Earnings Conference Call. My name is. Debra, and I will be your operator today. [Operator Instructions].
On the call today are, Greg Hayes, Chief Executive Officer and Neil Mitchill, Chief Financial Officer. This call is being carried live on the Internet and there is a presentation available for download from Raytheon Technologies website at www.rtx.com. Please note, except where otherwise noted, the Company will speak to results from continuing operations excluding net nonrecurring and or significant items and acquisition accounting adjustments, often referred to by management as other significant items. The company also reminds listeners that the ear