Diverse holdings company DPW Holdings (NYSE American: DPW)
this morning submitted its quarterly report on Form 10-Q reporting financial
results for the second quarter ended June 30, 2018. Among other highlights, the
company reported second quarter gross revenue of $7.4 million, an increase of
309% compared to $1.8 million in the second quarter of 2017. First half gross
revenue was $12.6 million, demonstrating a 266% increase from $3.5 million in
the first half of 2017. In addition, DPW reported that during the second
quarter it generated a total of $719,000 from its cryptocurrency mining
operations and used $605,000 to pay down its convertible debt and $201,000 to
invest in additional miners. DPW also provided full year 2018 gross revenue
guidance, estimating that its current annualized gross revenue run-rate is
roughly $40 million. “Our actual second quarter results, which are consistent
with the preliminary results we announced on August 15, demonstrate that we
continue to execute our stated strategic plan to create a diverse portfolio of
assets with global growth potential. Coolisys’ order book continues to improve,
giving us additional confidence in the growth potential of its advanced
engineering, design and manufacturing businesses. As we position the company
for continued expansion in 2019, we intend to continually evaluate our diverse
portfolio of assets, seeking opportunities to capitalize on new market
opportunities in advanced technologies and manufacturing, as well as monetize
existing assets for the benefit of all DPW Holdings’ shareholders,” DPW
Holdings CEO and Chairman Milton “Todd” Ault, III stated in the news release.
To view the full press release, visit http://ibn.fm/YLUuX
About DPW Holdings, Inc.
Headquartered in Newport Beach, California, DPW Holdings,
Inc. is a diversified holding company pursuing a growth strategy of acquiring
undervalued assets and disruptive technologies with a global impact. The
company invests in diverse industries within the commercial, defense/aerospace,
industrial, communication, medical, crypto-mining, hospitality, textile and
corporate investment/lending sectors. DPW has evolved and grown from being a
leader in advanced power products. Through its subsidiaries, the company
continues to be a leader and supplier of innovative technologies, advanced
design and development services, and state-of-the-art power products and
solutions. For more information, visit the company’s website at www.DPWHoldings.com
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