Supercom Ltd Ordinary Shares (NASDAQ:SPCB) ($11.32) – GeoBargain on the Radar SPCB provides electronic monitoring, identification, and security products and solutions to governments, and private and public organizations in Europe, the United States, and Israel. SPCB reported strong Q2 2014 results:
- quadrupled revenue to $7.1 million vs $1.9 million in prior year; ahead of analyst estimates of $6.5 million
- non-GAAP EPS of $0.19 vs $0.05 in the prior year; ahead of analyst EPS estimates of $0.13
Quotes from management:
“We are very pleased with our second quarter results, showing strong revenue growth and increasing levels of profitability on a year over year, as well as on a sequential basis,” commented Mr. Arie Trabelsi, President and CEO of SuperCom. “These results were built on growing recurring revenues from our ongoing contracts as well as the start of the implementation of the new contracts. We are outperforming our business plan both on a financial and operational standpoint.”
Continued Mr. Trabelsi, “I am proud of the performance of our excellent team which has realized these outstanding achievements. We remain very optimistic as we unleash the potential inherent within our growing pipeline of bids and proposals, combined with the growing demand for our solutions in both the eID and M2M markets.”
With the two large contract wins of over $47 million which the company was award this year (management stated the majority is expected to be filled by the end of 2014) and the full revenue contribution from recent acquisition of SmartID we expect Q3 and Q4 2014 to be significantly higher than Q2 2014.