Shares of WidePoint Corporation (NYSE:WYY) were transacted with a volume of 122416 shares in last trading period as compared to its average volume of 110.33K shares over last three months period. The stock price scored 0.04% and valued at $0.51. Its 52 week price range is $ 0.41 – 0.73.
The price moved ahead -2.12% from the mean of 20 days, -2.75% from 50 and separated -8.64% from 200 days average price. Its price volatility for a month and for a week remained 4.72% 5.06% respectively. It noted beta of 2.42. Company’s price to sales ratio for last 12 months was 0.55 while its price to book ratio for the most recent quarter was 1.71 and its Market Cap valued at $42.55M.
WidePoint Corporation (NYSE:WYY), provider of Trusted Mobility Management (TM2) specializing in Telecommunication Lifecycle Management, Identity Management, and Bill Presentment & Analytics solutions, reported financial results for the second quarter ended June 30, 2018.
Second Quarter 2018 Summary (Comparisons versus Second Quarter 2017)
- Revenue was $17.5 million compared to $18.9 million
- Gross profit improved 8% to $3.5 million
- Operating expenses declined 12% to $4.0 million
- Net loss reduced to $0.5 million from $1.3 million
- Adjusted EBITDA was $0.1 million as compared to ($0.4) million
First Half 2018 Summary (Comparisons versus First Half 2017)
- Revenue was $37.6 million compared to $37.5 million
- Gross profit improved 6% to $7.1 million
- Operating expenses declined 13% to $8.0 million
- Net loss reduced to $0.9 million from $2.5 million
- Adjusted EBITDA was $0.2 million as compared to ($1.2) million
Jin Kang, WidePoint’s President and Chief Executive Officer stated “I’m pleased to report four consecutive quarters of positive Adjusted EBITDA due to the progress we’ve made on capturing higher margin revenue opportunities and our cost savings initiatives. Over the past six months alone, we’ve reduced our operating expenses by almost $1.2 million”. “Meanwhile, we are aggressively working to grow our topline and to improve our sales pipeline with both new and existing customers through the marketing and cross-selling of our leading technology solutions, particularly our TM2 offering. We are positioning the company for profitable growth.”
Kito Mussa, WidePoint’s Chief Financial Officer, added, “While our second quarter revenue declined due to timing of resale revenue, we improved our gross profit, continued to narrow our GAAP net loss, and continued to be Adjusted EBITDA positive. We will remain focused on managing costs as we work to grow our top-line.”
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