NetworkNewsBreaks – SuperCom Ltd. (NASDAQ: SPCB)
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Posted On: 08/19/2024 4:18:13 PM
NetworkNewsBreaks – SuperCom Ltd. (NASDAQ: SPCB) Releases Q2 2024 Financial Results, Highlighted by Record Profit
SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-government, Internet of Things (“IoT”) and cybersecurity sectors, is reporting its financial results for second-quarter 2024, the period ended June 30, 2024. Highlights of the report include revenue of $7.5 million, record net income totaling $2.2 million and positive operating cash flow reaching $2 million. According to the announcement, the company’s strategic focus on cost optimization and capital management along with an innovative approach to technology deployment, has resulted in a significant turnaround in the bottom line. The report also noted several business wins, including more than $11 million in new orders from European governments and several significant new contracts in North America.
“We are proud to announce another strong quarter, marked by significant achievements across key financial and operational metrics,” said SuperCom president and CEO Ordan Trabelsi in the press release. “This quarter, we delivered substantial improvements in gross profit, operating income and net income — culminating once again in record-breaking profitability. Our ability to reach gross profit margins of nearly 50% as we advance through various stages of our projects is a testament to the efficiency of our operations and the high-margin nature of our offerings. As we move further into 2024, our focus remains on leveraging our innovative solutions and robust market presence to drive further expansion and deliver value to our shareholders. We are excited about the opportunities ahead and believe in our ability to maintain our momentum.”
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, Internet of Things (“IoT”) and cybersecurity sectors, is reporting its financial results for second-quarter 2024, the period ended June 30, 2024. Highlights of the report include revenue of $7.5 million, record net income totaling $2.2 million and positive operating cash flow reaching $2 million. According to the announcement, the company’s strategic focus on cost optimization and capital management along with an innovative approach to technology deployment, has resulted in a significant turnaround in the bottom line. The report also noted several business wins, including more than $11 million in new orders from European governments and several significant new contracts in North America.
“We are proud to announce another strong quarter, marked by significant achievements across key financial and operational metrics,” said SuperCom president and CEO Ordan Trabelsi in the press release. “This quarter, we delivered substantial improvements in gross profit, operating income and net income — culminating once again in record-breaking profitability. Our ability to reach gross profit margins of nearly 50% as we advance through various stages of our projects is a testament to the efficiency of our operations and the high-margin nature of our offerings. As we move further into 2024, our focus remains on leveraging our innovative solutions and robust market presence to drive further expansion and deliver value to our shareholders. We are excited about the opportunities ahead and believe in our ability to maintain our momentum.”
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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