MCLEAN, Va., March 17, 2016 /PRNewswire/ -- WidePoint
Corporation (NYSE Mkt: WYY), a leading provider of Managed Mobility
Services (MMS) specializing in Cybersecurity and Telecommunications
Lifecycle Management (TLM) solutions, today reiterates its 2016
strategic objectives and financial goals that were recently covered
on the Company's 2015 financial results investor conference call
held on March 15, 2016.
During the conference call the company enumerated several
operational and financial goals for 2016 that were summarized as
follows:
Operational/Financial Goals:
- Deliver revenue growth of between 10% and 20% over fiscal year
2015 results, excluding assumed new awards from the two remaining
un-served DHS BPA component agencies
- Improving gross margin performance to over 25% of revenues by
the second half of 2016 resulting from a combination of higher
margin new revenues and optimized direct cost of delivery
- Reducing sales/marketing, general and administrative expenses
to 20% of revenues through a cost rationalization program and new
revenue growth
Structural/Strategy Objectives:
- Maximize new revenue from our large partner distribution
channel programs
- Accelerate penetration of un-served federal agencies, and state
and local business opportunities
- Creatively market and deliver initial task orders for the final
two DHS component agencies under our DHS BPA
- Launch a fully productized certificate-on-device™ solution
featuring either internet or remote enrollment capability during
the second half of 2016
- Roll-out enhanced GUI and feature functionality for the ITMS ™
TLM platform by the end of the third quarter of 2016
- Accelerate platform unification with 50% of our TLM customers
migrated by calendar year-end 2016 to the ITMS TLM platform
- Launch US market penetration and pipeline build of Softex data
analytics and electronic bill presentment offerings
- Explore structural or strategic options and alternatives that
could accelerate the realization of incremental value to our
stakeholders and shareholders
Steve L. Komar, WidePoint's chief
executive officer stated, "During our Quarterly Earnings call on
March 15th, we articulated
several key goals that we believe speak well and directly to our
commitment to bring the Company to operational profitability later
this year, as well as our desire to remain open to any and all
opportunities that will help accelerate the growth of WidePoint in
the years ahead. We are taking this opportunity to better
communicate this information to a wider audience."
About WidePoint
WidePoint is a leading provider of secure, cloud-delivered,
enterprise-wide information technology-based solutions that can
enable enterprises and agencies to deploy fully compliant IT
services in accordance with government mandated regulations and
advanced system requirements. WidePoint has several major
government and commercial contracts. For more information, visit
www.widepoint.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release may contain forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the Exchange Act), including all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of the company, its
directors or its officers with respect to, among other things: (i)
the company's financing plans; (ii) trends affecting the company's
financial condition or results of operations; (iii) the company's
growth strategy and operating strategy; (iv) the declaration and
payment of dividends; and (v) the risk factors disclosed in the
Company's periodic reports filed with the SEC. The words "may,"
"would," "will," "expect," "estimate," "anticipate," "believe,"
"intend" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors including the risk factors disclosed in the company's Forms
10-K and 10-Q filed with the SEC.
For More
Information:
|
|
Jim McCubbin, EVP
& CFO
|
Brett Maas or David
Fore
|
WidePoint
Corporation
|
Hayden IR
|
7926 Jones Branch
Drive, Suite 520
|
(646)
536-7331
|
McLean, VA
22102
|
brett@haydenir.com
|
(703)
349-2577
|
|
jmccubbin@widepoint.com
|
|
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SOURCE WidePoint Corporation