NetworkNewsBreaks – DPW Holdings, Inc. (NYSE American: DPW) Reports Q2 Financial Results

August 21, 2018 09:06:41

Diverse holdings company DPW Holdings (NYSE American: DPW) this morning submitted its quarterly report on Form 10-Q reporting financial results for the second quarter ended June 30, 2018. Among other highlights, the company reported second quarter gross revenue of $7.4 million, an increase of 309% compared to $1.8 million in the second quarter of 2017. First half gross revenue was $12.6 million, demonstrating a 266% increase from $3.5 million in the first half of 2017. In addition, DPW reported that during the second quarter it generated a total of $719,000 from its cryptocurrency mining operations and used $605,000 to pay down its convertible debt and $201,000 to invest in additional miners. DPW also provided full year 2018 gross revenue guidance, estimating that its current annualized gross revenue run-rate is roughly $40 million. “Our actual second quarter results, which are consistent with the preliminary results we announced on August 15, demonstrate that we continue to execute our stated strategic plan to create a diverse portfolio of assets with global growth potential. Coolisys’ order book continues to improve, giving us additional confidence in the growth potential of its advanced engineering, design and manufacturing businesses. As we position the company for continued expansion in 2019, we intend to continually evaluate our diverse portfolio of assets, seeking opportunities to capitalize on new market opportunities in advanced technologies and manufacturing, as well as monetize existing assets for the benefit of all DPW Holdings’ shareholders,” DPW Holdings CEO and Chairman Milton “Todd” Ault, III stated in the news release.

To view the full press release, visit http://nnw.fm/5Xp4g

About DPW Holdings, Inc.

Headquartered in Newport Beach, California, DPW Holdings, Inc. is a diversified holding company pursuing a growth strategy of acquiring undervalued assets and disruptive technologies with a global impact. The company invests in diverse industries within the commercial, defense/aerospace, industrial, communication, medical, crypto-mining, hospitality, textile and corporate investment/lending sectors. DPW has evolved and grown from being a leader in advanced power products. Through its subsidiaries, the company continues to be a leader and supplier of innovative technologies, advanced design and development services, and state-of-the-art power products and solutions. For more information, visit the company’s website at www.DPWHoldings.com

More from NetworkNewsBreaks

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization 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. 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.

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
[email protected]