SuperCom, Ltd. SPCB Income for the second quarter was $7.748 million, beating analyst estimates of $4.60 million. Income was up 140.8% year-over-year.
Non-GAAP EPS improved to $0.07 in comparison with an EPS lack of $0.50 within the earlier yr.
“We’re excited to report a tremendous efficiency for the second quarter of 2023, through which we exceeded expectations on a number of fronts,” stated Ordan Trabelsi, President and CEO of SuperCom.
Quarterly gross revenue elevated 77% to $2.3 million from $1.3 million a yr in the past. Working capital on the finish of the second quarter was $21.2 million. The corporate exited the second quarter with money and money equivalents of $1.14 million.
Ordan added, “Our sensible investments in analysis and growth, gross sales and advertising and marketing have paved the way in which for world-class alternatives, enabling us to ship distinctive worth to our prospects whereas resolutely advancing towards our long-term strategic objectives.”
worth motion: SPCB shares are buying and selling up 3.5% at $1.0350 finally verify Monday.
© 2023 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.