WidePoint Corporation Reiterates 2016 Operational and Financial Goals and Strategy/Structural Objectives
McLean, VA, March 17, 2016 – 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:
- 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
- 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.”
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.
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