SuperCom (SPCB) Reports Q3 EPS of $0.09, Revenues Miss

SuperCom (NASDAQ: SPCB) reported Q3 EPS of $0.09, versus $0.14 reported last year. Revenue for the quarter came in at $6.1 million versus the consensus estimate of $8.5 million.

Third Quarter 2018 Financial Highlights (Compared to the Third Quarter of 2017)

• Revenue decreased to $6.1 million from $9.6 million.
• Non-GAAP Gross Margin increased to 58.8% from 48%.
• Non-GAAP core operating expenses improved by 41% to $2.5 million from $4.2 million.
• EBITDA decreased to $1.8 million compared to $2.4 million.
• EBITDA Margin increased to 30% compared to 25%.
• Non-GAAP Net Profit decreased to $1.4 million or $0.09 per share from $2 million or $0.14 per share.

Management Commentary

"We are excited to share our third quarter 2018 results, representing our very hard work optimizing our operational cost structure to record levels since 2015 with EBITDA margins as high as 30% and quarterly core Non-GAAP operating expenses as low as $2.5 million," commented Arie Trabelsi, President and CEO of SuperCom. "We have also been successful in securing a $20 million credit facility from a large US investment management firm, allowing us to grow our working capital to properly deploy our numerous ongoing multi-year projects as well as signal to potential customers and partners that we have capacity to do even more."

"With a steady base of recurring revenues globally, a growing targeted pipeline of opportunities across our three business segments, a lean operating cost structure, and strong financial backing, we are poised to grow our top line and cash flow generation in 2019 and in years to come,\" concluded Mr. Trabelsi.

For earnings history and earnings-related data on SuperCom (SPCB) click here.

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