The world is battling against an unprecedented situation due to the COVID Pandemic and subsequent global lockdown. Our hearts go out to everyone impacted directly or indirectly by the disease and we earnestly pray for the safety and well-being of their families.
We are continually monitoring the evolving situation and gathering our best efforts to ensure business continuity. We want to communicate to each of you that our business continues to remain strong and we continue to see strong demand in several of our key technology customers. Even with the slowdown, our Q1 2020 results are very close to Q4 2019 with a slight uptick on offshore and placement revenues.
The health and safety of our employees always are our main priority. All of our offices across the US and the Asia Pacific continue to remain closed and we are continuing to maintain work from home and the shelters in place. We are also maintaining social distancing and lockdown orders in compliance with government advisories.
As you know, some industries like travel, hospitality, and retail have been impacted by the lockdown and travel ban, whereas many of the other industries, such as technology, E-Commerce marketplaces, and pharmaceuticals are showing an uptake. The technology industry, which makes up most of our customer base, has been more or less shielded from the slowdown with most of its stakeholders being able to provide services while working from home.
We insist strongly on using our collaboration tools like Microsoft Teams and Zoom to work more efficiently and be connected with the rest of the organization.
Our immense gratitude is with the healthcare workers and first responders on the frontlines of this crisis. We shall remain grateful for the commitment, resilience, empathy, and compassion shown by our employees, customers, partners, and communities.
We are hoping that the pandemic gets under control soon and we can all get back to business as usual. Meanwhile, stay positive with the new working norms; stay safe and take care!
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