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Posted On: 05/16/2024 4:38:04 PM
Post# of 200
NetworkNewsBreaks – SuperCom Ltd. (NASDAQ: SPCB) Achieves Record Profit, 400% YoY EBITDA Growth for Q1 2024
SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-government, IoT and cybersecurity sectors, has announced results for the three months ended March 31, 2024. Among the highlights, the company reported an 8% increase in revenue to $6.9 million from $6.4 million and 139% increase in gross profit to $3.8 million from $1.6 million compared to the first quarter of 2023. “We are pleased to report a strong start to 2024, marked by significant financial and operational achievements. This quarter, we’ve continued to see revenue growth YoY and a dramatic improvement in our profitability metrics leading to an eight-year-record profit,” said Ordan Trabelsi, president and CEO of SuperCom. “The substantial growth in our gross profit reflects the inherent quality and high-margin potential of our key projects and our successful progression through different stages of these projects. Typically, the initial stages of these projects involve higher expenses, which subsequently give way to higher gross margins as the projects advance, as demonstrated by this quarter’s results. Additionally, our EBITDA year-over-year has seen a remarkable 400% increase. This improvement is a testament to our rigorous management practices and dedication to effectively leveraging our core business infrastructure.”
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at https://nnw.fm/SPCB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-government, IoT and cybersecurity sectors, has announced results for the three months ended March 31, 2024. Among the highlights, the company reported an 8% increase in revenue to $6.9 million from $6.4 million and 139% increase in gross profit to $3.8 million from $1.6 million compared to the first quarter of 2023. “We are pleased to report a strong start to 2024, marked by significant financial and operational achievements. This quarter, we’ve continued to see revenue growth YoY and a dramatic improvement in our profitability metrics leading to an eight-year-record profit,” said Ordan Trabelsi, president and CEO of SuperCom. “The substantial growth in our gross profit reflects the inherent quality and high-margin potential of our key projects and our successful progression through different stages of these projects. Typically, the initial stages of these projects involve higher expenses, which subsequently give way to higher gross margins as the projects advance, as demonstrated by this quarter’s results. Additionally, our EBITDA year-over-year has seen a remarkable 400% increase. This improvement is a testament to our rigorous management practices and dedication to effectively leveraging our core business infrastructure.”
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at https://nnw.fm/SPCB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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