- SGSI sees a dynamic market opportunity in new 5G site projects
- A spike in installation demand combined with limited qualified services firms could result in a financial opportunity for SGSI
- The company reported positive income from operations during the first quarter of 2019
Spectrum Global Solutions Inc. (OTCQB: SGSI) says that its bundling of services and the low number of qualified services firms in the growing telecommunications market helped drive higher revenues and growth in its margin potential on projects in the first quarter of 2019 (http://ibn.fm/XUSUd).
Notably, SGSI reported first quarter revenues of $11,335,732 for the three months ended March 31, 2019, as compared to $4,327,764 for the first quarter of 2018 (http://ibn.fm/6G25a). First quarter numbers also showed SGSI achieving its first quarterly positive income from operations of $14,699 in Q1 2019, as compared to a loss from operations of $743,491 for the comparable period in 2018.
The combined gross profit reported in Q1 from subsidiaries acquired in April 2017, February 2018 and January 2019 was $2,511,567, marking a 22.2 percent gross profit increase. By comparison, in the first quarter of 2018, the company’s gross profit was $543,244.
SGSI sees market growth in future 5G implementation from telecom companies, as well as ongoing 4G network upgrades. The company has positioned itself to gain more market share and will seek to maximize cross-selling opportunities by leveraging services and relationships with clients of operating subsidiaries. The peak in market installation demand and low number of qualified services firms could result in SGSI expanding 2019 revenues, driven by strategic, accretive acquisitions and organic growth.
SGSI is a leading provider of telecommunications engineering and infrastructure services in the United States, Puerto Rico, Canada, Guam and the Caribbean. The company sees an intriguing opportunity as new 5G sites expand wireless coverage and 4G sites continue to require maintenance and upgrades. SGSI subsidiaries include AW Solutions, ADEX TNS and Tropical Communications Inc.
SGSI is a single-source provider of wireless and wireline network infrastructure and professional service solutions to the service provider (carrier) and corporate enterprise markets. The company builds and services end-to-end communication networks (http://ibn.fm/07Yl7).
For more information, visit the company’s website at www.SpectrumGlobalSolutions.com
NOTE TO INVESTORS: The latest news and updates relating to SGSI are available in the company’s newsroom at http://ibn.fm/SGSI
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