Stalemate should be put aside: WidePoint Corporation (NYSE: WYY)
On 24 Jan 2020, WidePoint Corporation (NYSE: WYY) spotted trading -25.00% off 52-week high price. On the other end, the stock has been noted 66.37% away from the low price over the last 52-weeks. The stock changed 2.36% to recent value of $0.47. The stock transacted 183343 shares during most recent day however it has an average volume of 171.58K shares. The company has 81.09M of outstanding shares and 79.26M shares were floated in the market.
WidePoint Corporation (NYSE: WYY) recently stated results for the third quarter ended September 30, 2019.
Third Quarter 2019 and Recent Operational Highlights:
Received $14.7M in recent contract awards for Telecom Expense Management (TEM) and Mobility Managed Services (MMS)
Successfully completed an address canvassing project with CDW-G for 2020 U.S. Census project
Reported $2.5M share repurchase program
Third Quarter 2019 Financial Highlights (results contrast to the same year-before period):
Revenues increased 39% to $29.6M
Gross profit increased 17% to $4.3M
Net income totaled $184,000
Adjusted EBITDA, a non-GAAP financial measure, increased to $949,000, marking the company’s ninth consecutive quarter of positive adjusted EBITDA, and in line with forecast
Nine Month 2019 Financial Highlights (results contrast to the same year-before period):
Revenues increased 25% to $73.6M
Gross profit increased 17% to $12.6M
Net income totaled $260,000
Adjusted EBITDA totaled $2.6M
Financial Outlook
For the fiscal year ending December 31, 2019, the company is reiterating its revenue guidance of $90.0M to $93.0M, representing growth of 8% to 12%. The company is also reiterating its adjusted EBITDA guidance of $2.75M to $3.5M, which represents an improvement contrast to fiscal 2018. The increase in adjusted EBITDA reflects the company’s planned investments in sales and marketing and product development to accelerate growth, as well as a $400,000 increase Because of new Financial Accounting Standards Board (FASB) guidance regarding the treatment of capital lease. The company’s financial outlook is based on current expectations.
Its earnings per share (EPS) expected to touch remained 47.00% for this year while earning per share for the next 5-years is expected to reach at 20.00%. WYY has a gross margin of 17.40% and an operating margin of 1.40% while its profit margin remained -0.20% for the last 12 months. According to the most recent quarter its current ratio was 1.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 15.49% from the mean of 20 days, 20.75% from mean of 50 days SMA and performed 17.39% from mean of 200 days price. Company’s performance for the week was 7.51%, 18.72% for month and YTD performance remained 18.72%.
Ronald Hemphill– Business Stories
My Name is Ronald Hemphill and I am also the main source from the ‘Journalnewsbulletin.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.
