SuperCom Ltd, an Israeli provider of Electronic Intelligence Solutions for e-Government, Public Safety, and HealthCare, announced its results for the third quarter of 2014. The company has a lot to be happy about compared with the results for the same period last year.
It revenue increased by 352% to $9.1 million compared to $2.0 million last year. GAAP operating income increased by 672% to $3.7 million compared to $0.5 million last year and Non-GAAP operating income was $4.1 million compared to $0.5 million last year.
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EBITDA was $4.2 million (46% margin) compared to $0.5 million (25% margin) and Non-GAAP earnings per share were $0.30 compared to $0.05 last year.
Supercom also announced that so far this year it received new contracts totaling $57 million in value. It also boasted the “seamless integration” of the SmartID division into SuperCom, the Introduction of the enhanced PureSecurity Electronic Monitoring Suite, which the company says gave it a strong position in the M2M and IOT (Internet of Things) space, as well as the introduction of the new mobile payments suite, m-Pay, including the SuperPOS, PureMoney, SuperPay, and SafeMoney solutions.
Another highlight for SuperCom was the new implementation of Biometric e-Visa, e-Gate, e-Passport, and Resident Identification Systems to enhance national security while stimulating economic growth. The company also cited its strategic hires for the management team that it says are increasing its international capabilities.
“We are very pleased to report three consecutive quarters of strong growth in our revenues and EBITDA. Keeping tight control over our cost structure while growing revenues has allowed us to not only increase our operating margins, but also invest more in R&D. This, along with growing market demand, an increasing number of ongoing contracts around the world and an expanding pipeline gives us confidence in implementing our business plan for 2015 and beyond, ” commented Mr. Arie Trabelsi, President and CEO of SuperCom.
He added, “I am very proud of the performance of our growing R&D and sales teams, which are developing innovative next generation product lines and deploying them effectively into the growing e-Government, M2M, IOT, and payments markets. Our operations and support teams have also continued to perform exceptionally by increasing operational efficiencies while strengthening our relationships and improving customer satisfaction.”