WidePoint Raises Guidance for Full Year 2019
December 09 2019 - 8:00AM
WidePoint Corporation (NYSE American:
WYY), the leading provider of Trusted Mobility Management
(TM2) specializing in Telecommunications Lifecycle Management,
Identity Management and Digital Billing & Analytics solutions,
has raised its revenue and adjusted EBITDA guidance for the full
year ending December 31, 2019.
Subsequent to WidePoint’s third quarter 2019 earnings call held
on November 14, 2019, the federal government definitized its budget
for the end of 2019. As a result of additional insights gained from
the updated budget, WidePoint now anticipates revenues for its full
year 2019 to be $95M (previously a range of $90.0 million to $93.0
million) and adjusted EBTIDA to be $3.5M (previously a range of
2.75 million to $3.5 million). The company’s new guidance
represents an increase in revenues of 14% and an increase in
adjusted EBITDA of 94% compared to 2018.
“With the clarity we recently gleaned from the federal
government’s budget and spending initiatives for their fiscal year
ending September 30, 2020, we have even greater visibility and
confidence that WidePoint’s 2019 financial results will be stronger
than we originally anticipated,” said company CEO, Jin Kang. “The
combination of this new information and the opportunities we’re
actively pursuing have us on track to not only generate positive
results for 2019 but continue the momentum into 2020.”
About WidePointWidePoint Corporation (NYSE
American: WYY) is a leading provider of trusted mobility management
(TM2) solutions, including telecom management, mobile management,
identity management, and digital billing and analytics. For more
information, visit widepoint.com.
Investor Relations:Matt Glover and
Charlie SchumacherGateway Investor Relations(949)
574-3860WYY@gatewayir.com
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