WidePoint Announces $3.4 Million in New Commercial Enterprise Awards
Third Quarter 2014 Revenue Anticipated to be in the Range of $14.3 to $14.7 Million
McLean, Virginia, October 15, 2014—WidePoint Corporation (NYSE Mkt: WYY), a leading provider of Managed Mobility Services (MMS) specializing in Cybersecurity and Telecommunications Lifecycle Management (TLM) solutions, announced today it received new MMS themed contract awards totaling approximately $3.4 million during the recently completed third quarter ended September 30, 2014, specifically from commercial and enterprise clients. As previously mentioned in its second quarter earnings conference call, management anticipates continued revenue growth for the Company and that revenue for the third quarter should be in the range of $14.3 to $14.7 Million.
Third Quarter Commercial Enterprise Award Highlights:
- Gained a new European telecom and railroad client
- Added new holding company client with 15 diverse subsidiaries
- Added over $300K, net, in new software licenses at our Soft-x Subsidiary.
- Expanded sales to a major defense electronics company in support of machine-to-machine (M2M) credentials
- Expanding relationship with major U.S. telecom service provider
- Expanded consulting support to a major international pharmaceutical company
- Added approximately 11 new Managed Mobility clients
- Continued to work with 3 OEM device manufacturers on Certificate-on-Device opportunity
John Atkinson, chief sales & marketing officer, stated, “We are pleased with the progress we are making as we broaden our sales and marketing efforts into the commercial and enterprise marketplace, both domestically and abroad. We believe that our recent successes should continue to build upon themselves as our pipeline of opportunities continues to expand.” Atkinson further added, “As we expand our product and service offerings with ’Certificate-on-Device’ through our new channels, we expect this to bring new clients on board for our combined managed mobility services. We are excited about the opportunities ahead for the company.”
“The combination of recent commercial wins and our earlier-announced new federal awards and expanding pipeline continue to drive revenue growth for the Company. We are witnessing this continuation of growth today, as well as in our recently completed third quarter ended September 30, 2014, stated Steve Komar, CEO of WidePoint.
WidePoint (NYSE Mkt: WYY) 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.
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