WidePoint Corporation (NYSE: WYY) provides managed mobility services, telecommunications lifecycle management, and cybersecurity solutions. Since its first merger in 1998, WidePoint has demonstrated a pattern of growth through strategic mergers with highly specialized regional IT consulting companies, most of which have been in business for decades. In November 2016, WidePoint posted third-quarter net revenue of approximately $22.1 million, an increase of 30% compared to $17.0 million in the third quarter of 2015. The company also cut its net loss to $148,000 in the third quarter of 2016 compared to a loss of $1.8 million in the year ago quarter. WidePoint was also operationally profitable on an adjusted EBITDA basis ($340,000). Leveraging a partnership with AT&T (NYSE: T), the company forecasts continued upward momentum in 2017 as it exploits opportunities for its identity management and telecom lifecycle management solutions. “We remain confident that we will continue to make progress with our financial model, and we are particularly excited by the opportunities we see for our identity management solutions and our telecom lifecycle management solutions in both the Federal and Commercial market spaces. We continue to be optimistically excited about the direction that our partnership with AT&T is leading us, especially given their focused thrust into the Internet of Things (IoT). Coupling this opportunity with the continued positive progress we are making with the United States Coast Guard (USCG), leads us to believe that 2017 should continue to demonstrate even more positive financial improvements, and leveraging and scaling within our business model,” company CEO Steve L. Komar stated in a November news release.
To learn more, visit www.widepoint.com
About WidePoint
WidePoint (NYSE Mkt: WYY) is a leading provider of secure, cloud-delivered, enterprise-wide information technology-based solutions that can enable enterprises and agencies to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements. WidePoint has several major government and commercial contracts.
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