WidePoint Provides Fiscal Year 2020 Financial Guidance
June 18 2020 - 9:00AM
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 provided its financial outlook for the fiscal year ending
December 31, 2020.
For the fiscal year ending December 31, 2020, the Company
currently anticipates revenues to range between $185 million and
$195 million, which, at the midpoint of the range, would represent
87% growth compared to fiscal 2019. Additionally, the Company
currently expects EBITDA to range between $3.0 million and $3.4
million, which would be a 13% increase at the midpoint compared to
fiscal 2019.
“Up to this point, the uncertainty that permeated all industries
and the plethora of variables that could potentially impact revenue
recognition from current and new contracts had made it challenging
to provide an accurate forecast for fiscal 2020,” said WidePoint’s
CEO, Jin Kang. “However, as the year has progressed and as this
year’s major initiatives, like our work on the 2020 U.S. Census,
have matured, we’ve gained more insight and visibility into how the
year should progress.”
“We’ve always been optimistic about our growth prospects for
2020, but it’s especially gratifying to be in a position to now
provide the investment community with a more tangible and objective
measure of our expectations for the year. We started 2020 with a
successful quarter, and we look forward to building on that
momentum throughout the year.”
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:Gateway Investor
RelationsMatt Glover or Charlie
Schumacher949-574-3860WYY@gatewayir.com
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