Leading telecommunications engineering and infrastructure services provider Spectrum Global Solutions (OTCQB: SGSI) today announced financial results for the full year 2018. “We are very pleased to report that Spectrum’s full year 2018 revenue has grown $23.8 million over the same period in 2017. Gross margin increased $4.1 million over 2017,” SGSI CEO and Chairman Roger Ponder stated in the news release. “In addition to our revenue growth we have decreased our loss from operations to $2.5 million from $6.1 million for the same period in 2017. Our existing subsidiaries continue to generate positive net income. Our goal is to continue to grow our existing businesses while focusing on our pending merger with WaveTech Global Inc. The merger should enable us to further increase our gross margins and revenue as we sell higher margin services and solutions. WaveTech has an array of exciting products and data centric solutions that will help us achieve those goals and overlay on top of our existing revenue sources. Our near term and long-term outlook is very positive and we look forward to ramping up our portfolio of recurring revenue. Spectrum is positioned with a robust portfolio of services, industry leading solutions and an aggressive sales and engineering group that will ultimately help us achieve our goals and objectives.”
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About Spectrum Global Solutions Inc.
Spectrum Global Solutions operates through its subsidiaries: AW Solutions, ADEX Corp and TNS. The company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and the Caribbean. For more information, visit the company’s website at www.SpectrumGlobalSolutions.com.
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