Business
Wi2Wi Corporation Announces 2018 Year End Results
TORONTO, ON / ACCESSWIRE / April 15, 2019 / Wi2Wi Corporation ("Wi2Wi" or the "Company"), is...
About this update from Wi2wi Corp.
[{"type":"text","content":"Wi2Wi Corporation Announces 2018 Year End ResultsTORONTO, ON / ACCESSWIRE / April 15, 2019 / Wi2Wi Corporation (\"Wi2Wi\" or the \"Company\"), is pleased to announce its consolidated financial results for the year ending December 31, 2018. Highlights (in thousands of US dollars unless otherwise stated) FY 2018 (audited) FY 2017 (audited) 3 Months ending December 31, 2018 (unaudited) 3 Months ending December 31, 2017 (unaudited) Revenue $9,711 $9,610 $2,455 $2,382 Net income 143 136 122 109 Net cash provided by (used in) operations 470 796 143 (306) Total assets 8,372 8,106 8,372 8,106 Total current liabilities 1,880 1,230 1,880 1,230 Shareholders' equity 6,348 6,010 6,348 6,010 2018 Highlights Mr. Gary DuBroc, Mr. Francesco Ferlaino and Ms. Carol Hess have joined the board of directors. The Company has booked orders amounting $11,534 from Jan 1, 2018 through December 31, 2018 compared to $9,898 in the same period of the previous year. The increase in booking is due to the Company's continued effort in winning customer confidence with its tier 1 customer base by providing the highest level of technical support and on time shipments. Net income at December 31, 2018 is $143 compared to $136 in the same period of the previous year. Cash on hand at December 31, 2018 is $2,570 compared to $2,151 in the same period of the previous year. The Company continues to operate debt free and is sustaining its operations through positive cash flow. The Company continues to invest in R&D to create best in class products targeting its premium markets, such as avionics, space, defense, industrial, IoT, IIoT and medical.\"The Company welcomes the new members of the board of directors. We are pleased to see the results of our commitment to the customers by providing on time delivery and real time technical support and expect increase on bookings in coming years. We continue to focus on releasing new best in class products and actively promoting the product lines with existing and new customers.\" said Mr. Zachariah Mathews, President & CEO of the Company.For further information, please contact:Dawn LeederChief Financial Officer608 203 [email protected] IoT and M2MEssentially, IoT and M2M describe the network of physical objects or \"things\" embedded with electronics, software, sensors, and network connectivity, which enables these ob...