In 2014, the number of detected
cyberattacks skyrocketed by 48 percent, costing companies in a variety of
industries more money than ever before. This year, PricewaterhouseCoopers
predicts that digital security issues will remain a major concern for
businesses, with a forecasted 117,339 attacks occurring each day. With the
cybersecurity market becoming more vital with each passing month, WidePoint
Corporation (NYSE MKT: WYY) is in a strong strategic position to expand its
market share and provide increased shareholder returns.
WidePoint is a leading provider
of managed mobility services, telecom lifecycle management, and cybersecurity
solutions. The company’s revolutionary approach to certificate-based security
and associated consulting services has allowed WidePoint to differentiate
itself for the competition, establishing a foothold in the competitive
cybersecurity field while consistently meeting the evolving demands of the
industry.
Since 1998, WidePoint has grown
through the merger of highly specialized regional IT consulting firms.
Following this innovative business model, the company has united decades of
experience and fluency across a collection of technologies in order to provide
an unparalleled array of solutions to meet customer needs.
During the first quarter of 2015,
WidePoint leveraged its unique position within the cybersecurity industry,
recording an 84 percent year-over-year increase in net revenue, and the
company’s expanded presence in the government sector should help position
WidePoint for sustained financial improvement. With the renewal of a task order
from the Department of Homeland Security (DHS), which is valued at
approximately $17 million over three years, the company is establishing
channels to realize continued growth for the foreseeable future.
“We were pleased with our
results in the first quarter of 2015 with slightly higher revenues than we had
expected,” stated Steve L. Komar, Chief Executive Officer of WidePoint. “We
remain on plan to continue to expand our DHS task order awards… while continuing
our efforts at expanding our state/local and commercial footprints.”
While WidePoint’s biggest moves
during the first quarter were in the government sector, the company also made
strides towards growth in the commercial market. In addition to initiating work
with an AT&T large financial services client regarding its next-generation
identity management offerings, WidePoint continued to work closely with leading
device manufacturers in expectation of booking initial revenues based on its
Certificate-on-Demand™ digital certificate validation service during the second
quarter of this year.
Under the direction of a
seasoned management team with over 140 years of combined industry experience,
WidePoint is in a strong position to continue expanding its impact on the
cybersecurity industry moving forward. For prospective investors, the company’s
recently released financial results provide an intriguing glimpse into
WidePoint’s potential for offering sustained returns in the years to come.
For more information, visit
www.widepoint.com
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
