Leading telecommunications engineering and infrastructure
services provider Spectrum Global Solutions (OTCQB: SGSI)today announced
financial results for the full year 2018. “We are very pleased to report that
Spectrum’s full year 2018 revenue has grown $23.8 million over the same period
in 2017. Gross margin increased $4.1 million over 2017,” SGSI CEO and Chairman
Roger Ponder stated in the news release. “In addition to our revenue growth we
have decreased our loss from operations to $2.5 million from $6.1 million for
the same period in 2017. Our existing subsidiaries continue to generate
positive net income. Our goal is to continue to grow our existing businesses
while focusing on our pending merger with WaveTech Global Inc. The merger
should enable us to further increase our gross margins and revenue as we sell
higher margin services and solutions. WaveTech has an array of exciting
products and data centric solutions that will help us achieve those goals and
overlay on top of our existing revenue sources. Our near term and long-term
outlook is very positive and we look forward to ramping up our portfolio of
recurring revenue. Spectrum is positioned with a robust portfolio of services,
industry leading solutions and an aggressive sales and engineering group that
will ultimately help us achieve our goals and objectives.”
To view the full press release, visit http://ibn.fm/IHDXi
About Spectrum Global Solutions Inc.
Spectrum Global Solutions operates through its subsidiaries:
AW Solutions, ADEX Corp and TNS. The company is a leading provider of
telecommunications engineering and infrastructure services across the United
States, Canada, Puerto Rico, Guam and the Caribbean. For more information,
visit the company’s website at www.SpectrumGlobalSolutions.com.
NOTE TO INVESTORS: The latest news and updates
relating to SGSI are available in the company’s newsroom at http://ibn.fm/SGSI
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