Upgrade to SI Premium - Free Trial

WidePoint (WYY) Reports Q3 EPS of $0.00, Revenues Beat

November 14, 2018 4:07 PM

WidePoint (NYSE: WYY) reported Q3 EPS of $0.00. Revenue for the quarter came in at $21.3 million versus the consensus estimate of $18.18 million.

“The third quarter was another strong period for WidePoint. We now have five straight quarters of positive adjusted EBITDA and we are continuing to build momentum toward achieving GAAP profitability,” said company President and CEO, Jin Kang. “Our performance in Q3 was highlighted by solid topline growth as we successfully expanded relationships with key Federal and enterprise customers. In addition to our strong topline results, we also delivered another sequential improvement in adjusted EBITDA.

“From a business development standpoint, we continue to execute on our strategy to maintain our customer, upsell and pursue new business. This is evidenced by the substantial orders and large contracts we have recently secured, including the $12 million follow-on order from the U.S. Coast Guard as well as the $20 million in aggregate of new contract orders from various government agencies. These awards highlight WidePoint’s position as the premier provider of Trusted Mobility Management services solutions to the public and private sectors. Looking ahead, our building momentum in the new Federal fiscal year underscores a robust pipeline of significant opportunities.”

For earnings history and earnings-related data on WidePoint (WYY) click here.

Categories

Earnings Management Comments

Next Articles