Lattice Announces Positive Q1 EBITDA and Surging Communications Sales
Communications Revenue up 106% on Year-Ago Period; Conference Call Today, May 15 at 2:00 p.m. EDT
(firmenpresse) - PENNSAUKEN, NJ -- (Marketwire) -- 05/15/12 -- Lattice Incorporated (OTCBB: LTTC), a provider of advanced information and communications technology solutions to the corrections industry and key government agencies, announced its financial results for the first quarter of 2012.
Q1 Financial Highlights:
EBITDA was $263,619, compared to $69,209 for the same period of 2011, an increase of 280%
Revenue was $3,395,338 compared to $3,269,867 for the same period of 2011, and increase of 4%
Net income was $28,760 compared with a loss of $522,838 for the same period of 2011
The top and bottom line improvements were attributable to major gains in the company's rapidly growing Communications Division, which recorded revenue in the quarter of $2,083,433 compared with revenue of $1,010,925 a year earlier, a 106% improvement. This was partially offset by a drop in revenue in the company's Government Services Division from $2,258,942 a year ago to $1,311,905 in the first quarter.
Lattice CEO Paul Burgess said, "The significant increase in communications revenue reflected higher call volumes from our installed base of correctional facilities and an increased number of facilities utilizing our proprietary Nexus system. This is a clear indication our proprietary technology is being more widely accepted within the corrections industry and bodes well for our market share growth. Our sales pipeline continues to grow, driven by increased interest from correctional facilities, larger service providers and international telecommunication companies."
Lattice will host a conference call today, with CEO Paul Burgess and CFO Joseph Noto . To participate in this call, dial after 1:50 p.m. EDT. International callers should An audio replay of the call will be available at for approximately 90 days after the call.
Financial Tables are attached.
Lattice Incorporated is a provider of advanced information and communications technology solutions to the government and commercial markets. The company's Lattice Government Services division designs, deploys and manages advanced technological solutions at key government agencies and for mid- to large-sized enterprises. The company's Lattice Secure Communications division provides core proprietary platforms that develop customized software applications with military grade security for markets including correctional facilities that require highly secure solutions. For more information, visit .
Investment profile about Lattice: .
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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, 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; and (iv) 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 previously filed with the SEC.
Investor Relations contact:
Hawk Associates
Frank Hawkins
305-451-1888
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Datum: 15.05.2012 - 13:35 Uhr
Sprache: Deutsch
News-ID 146671
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