Digerati Technologies (OTCQB: DTGI), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, today announced financial results for its fiscal year ended July 31, 2019. Per the update, Digerati’s FY2019 is the first full fiscal year report that reflects consolidated results for the acquisitions of both Synergy Telecom (“Synergy”) and T3 Communications, Inc. (“T3”). Among the reported financial highlights is a 202% increase in consolidated total revenue for the year ended July 31, 2019 to $6.040 million, compared to $2.001 million for the year ended July 31, 2018. “We are extremely pleased with our FY2019 financial results and continued progress of delivering on the Company’s stated strategic initiatives. We kicked off the fiscal year with a foundation consisting of two acquisitions that positioned us for continued organic growth and for stacking additional profitable revenue from future acquisitions,” Digerati CEO Arthur L. Smith said in the news release. “Our recently announced acquisition of Nexogy, Inc. will add approximately $6.6 million in annual revenue and is also expected to make a significant contribution to EBITDA now that we have reached a scale that allows us to maximize cost synergies. In FY2020, we will stay the course and not deviate from our disciplined plan of adding profitable recurring revenue with high gross margins from targeted acquisitions and organic growth.”
To view the full press release, visit http://nnw.fm/A2tSC
About Digerati Technologies, Inc.
Digerati Technologies, Inc. is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its subsidiary T3 Communications (www.T3com.com), the Company is meeting the global needs of businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions, including cloud PBX, cloud mobile, Internet broadband, SD-WAN, SIP trunking, and customized VoIP services, all delivered on its carrier-grade network and Only in the Cloud(TM). For more information about Digerati Technologies, please visit www.Digerati-Inc.com.
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com