View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Networks
September 15, 2010

WPCS Q1 revenue up 15% to $29m

Posts net loss of $0.05 per share

By CBR Staff Writer

WPCS International, a provider of design-build engineering services for communications infrastructure, has reported total revenues of $29m for the first quarter of fiscal 2011, an increase of 15% as compared to $25.3m of the same quarter prior year.

The company’s operating loss for the first quarter was $0.56m as compared to an operating profit of $0.623m for the same period last year.

For the quarter ended 31 July 2010, the company posted net loss of $0.376m, or $0.05 loss per diluted share, as compared to net income of $0.435m, or $0.06 income per share, for the same period last year.

WPCS CEO Andrew Hidalgo said that in regards to their first quarter financial performance, most of their operation centres performed well but some not so well, and many operation centres generated encouraging results but from a consolidated perspective, the results were less than favorable.

"It is important to understand that the shortfall is specific to a few operation centres and not the company as a whole, and the primary issue has been delays and competition in public service projects in the Florida and California markets," Hidalgo said.

"The gross margins for these projects are bid in the lower twenty percentile today due to increased competition."

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU