UPDATE: (Correction) WidePoint (WYY) Reports In-Line Q2 EPS
Get Alerts WYY Hot Sheet
EPS Growth %: +100.0%
Financial Fact:
Net income/(loss): -148.04K
Today's EPS Names:
STEL, WF, CWBC, More
Join SI Premium – FREE
(Update corrects EPS to say loss of $0.01, not $0.11. The press release stated a loss of $0.011 which was mistakenly inputted as 0.11)
WidePoint (NYSE: WYY) reported Q2 EPS of ($0.01), in-line with the analyst estimate of ($0.01). Revenue for the quarter came in at $17.5 million versus the consensus estimate of $19.55 million.
"Our second quarter was marked by substantial improvements in our progress toward profitability," stated Steve L. Komar, WidePoint's chief executive officer. "We continue to selectively invest in our next-generation solutions and to expand our partnerships with leading technology Channel Partners, including Samsung and AT&T. We are driving fundamental changes to our business model to push our new business building efforts to a focus on higher margin services including mobility telecommunications and cybersecurity, and de-emphasizing lower margin reselling and administrative services activities, and continue to take steps to optimize our costs of operations and delivery. We fully expect to see the financial impact of this prioritization throughout the remainder of 2016, and increasingly in the years to come."
James McCubbin, WidePoint's chief financial officer, added, "Our improvements in both our net operating losses and adjusted EBITDA loss in the second quarter and in the first half were largely driven by our ongoing business rationalization efforts to improve our operating model. We believe we are on track to reach operational profitability in the second half of 2016."
For earnings history and earnings-related data on WidePoint (WYY) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chevron (CVX) earnings fall short while revenue tops estimates in Q1
- Exxon Mobil (XOM) Misses Q1 EPS by 15c
- AbbVie (ABBV) Tops Q1 EPS by 4c, Raises Guidance
Create E-mail Alert Related Categories
Earnings, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!