SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-government, Internet of Things (“IoT”) and cybersecurity sectors, is reporting its financial results for second-quarter 2024, the period ended June 30, 2024. Highlights of the report include revenue of $7.5 million, record net income totaling $2.2 million and positive operating cash flow reaching $2 million. According to the announcement, the company’s strategic focus on cost optimization and capital management along with an innovative approach to technology deployment, has resulted in a significant turnaround in the bottom line. The report also noted several business wins, including more than $11 million in new orders from European governments and several significant new contracts in North America.
“We are proud to announce another strong quarter, marked by significant achievements across key financial and operational metrics,” said SuperCom president and CEO Ordan Trabelsi in the press release. “This quarter, we delivered substantial improvements in gross profit, operating income and net income — culminating once again in record-breaking profitability. Our ability to reach gross profit margins of nearly 50% as we advance through various stages of our projects is a testament to the efficiency of our operations and the high-margin nature of our offerings. As we move further into 2024, our focus remains on leveraging our innovative solutions and robust market presence to drive further expansion and deliver value to our shareholders. We are excited about the opportunities ahead and believe in our ability to maintain our momentum.”
To view the full press release, visit https://ibn.fm/zSa6I
About SuperCom Ltd.
SuperCom has been a global provider of traditional and digital identity solutions since 1988, providing advanced safety, identification, and security solutions to governments and organizations, both private and public, around the world. Through its proprietary e-government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border-control services, SuperCom has inspired governments and national agencies to design and issue secure multi-ID documents and robust digital-identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one, field-proven radio frequency identification (“RFID”) and mobile technology and product suite, accompanied by advanced complementary services for various industries including security and safety, community public safety, law enforcement, domestic violence prevention and electronic monitoring. For additional information about this company, please visit www.SuperCom.com
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at http://ibn.fm/SPCB
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Source : https://invezz.com/news/2024/08/19/techmediabreaks-supercom-ltd-nasdaq-spcb-releases-q2-2024-financial-results-highlighted-by-record-profit/
