Business
SuperCom Reports Financial Result for the Second Quarter of 2019 with GAAP Profit of $0.11 Million , $1.9 Million in EBITDA, 33% EBITDA Margin, and Non-GAAP EPS $0.07
TEL AVIV, Israel, August 14, 2019 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-government, public safety,
About this update from Supercom, Ltd.
[{"type":"text","content":"TEL AVIV, Israel, August 14, 2019 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-government, public safety, healthcare, and finance sectors, reported results for the second quarter of 2019. \nSecond Quarter 2019 Financial Highlights (Compared to the Second Quarter of 2018)\nNet Profit improved to $0.11 million from $0.03 million. Operating Expenses decreased 34% to $2.7 million from $4.1 million. Operating Income increased to $0.6 million. Non-GAAP Net Profit improved to $1.1 million or $0.07 EPS. Non-GAAP Operating Income increased 78% to $1.6 million from $0.9 million EBITDA improved 34% to $1.9 million from $1.4 million. EBITDA Margin increased 57% to 33% from 21% last year. Non-GAAP Gross Margin Increased to 61%. Cash and Restricted Cash over $3.5 Million. Revenue decreased to $5.7 million from $6.8 million IOT products sub-segment revenue increased by over 65%, IOT segment revenue, increased by over 41%. Revenue from North America and Europe represented over 93% of total revenue in comparison to 59% in previous year. First Half 2019 Financial Highlights (Compared to the First Half of 2018)\nEBITDA improved 21% to $3.5 million compared to $2.9 million. EBITDA Margin increased 48% to 31% from 21% last year Operating expenses decreased 34% to $5.6 million from $8.5 million. Non-GAAP Gross Margin Increased to 60%. Non-GAAP Operating Income increased 56% to $2.8 million from $1.8 million Non-GAAP Net Profit of $1.9 million or $0.13 per share. Revenue decreased to $11.4 million from $13.8 million IOT products sub-segment revenue increased by over 58%, IOT segment revenue, increased by over 35%. Revenue from North America and Europe represented over 91% of total revenue in comparison to 61% in previous year period. First Half 2019 and Recent Operational Highlights by Business Segment: \ne-Gov:\nContinued development and enhancement of project in Iceland, given its geographic location in Europe, and maintained relationships with customers in Africa and other developing regions, with existing SuperCom systems in place. Diverted some resources from this segment to support growth in IOT and Cyber.IoT:\nDevelopment of new innovative and market-disrupting features and capabilities to the PureSecurity EM suite, supporting new project deployments and allowing for increased competitive advantages i...