pdvWireless Reports Second Quarter Results

Revenue for the six months ended September 30, 2016 was $2.2 million compared with $1.7 million for the six months ended September 30, 2015. The Company reported a net loss of ($17.9 million), or ($1.24) per share, for the six-month period compared with ($9.8 million), or ($0.70) per share, for the six months ended September 30, 2015.

The Company's revenues for the three and six months ended September 30, 2016 continued to principally represent its historical software as-a-service ("SaaS") business. The increases in revenues for each of those periods, however, were primarily from its DispatchPlus business. 

The operating results for the three and six months ended September 30, 2016 also include costs and expenses related to developing the Company's broadband spectrum strategies, including the FirstNet bid, and operating, selling and marketing costs of implementing and deploying its DispatchPlus business.

Cost of revenue for the three months ended September 30, 2016 increased to $1.7 million from $0.5 million for the three months ended September 30, 2015. For the six months ended September 30, 2016, cost of revenue increased to $3.3 million from $0.9 million for the six months ended September 30, 2015. The increases for the three and six month periods primarily reflect the costs to maintain and operate the Company's DispatchPlus networks.

Operating expenses for the three months ended September 30, 2016 increased by $1.5 million, or 26%, to $7.3 million from $5.8 million for the three months ended September 30, 2015. For the six months ended September 30, 2016, operating expenses increased by $6.2 million, or 58%, to $16.8 million from $10.6 million for the six months ended September 30, 2015. The increases for the three and six month periods were principally driven by: 

• General and administrative expenses increased by $0.9 million, or 19%, for the three months ended September 30, 2016 and increased by $4.9 million, or 59%, for the six months ended September 30, 2016. The increases resulted primarily from $1.1 million and $4.3 million for the three and six month periods, respectively, for consulting services related to the Company's strategic initiatives, including principally the FirstNet bid process. The additional increase for the six months ended September 30, 2016 resulted from $0.5 million for increased headcount and related costs.
• Sales and support expenses increased by $0.3 million, or 38%, and $0.7 million, or 44%, for the three and six months ended September 30, 2016. The increases were driven primarily by an increase in headcount and related costs of $0.2 million and $0.4 million, respectively, along with $0.1 million and $0.3 million, respectively, for indirect commissions provided to the Company's third-party sales representatives to support its DispatchPlus business.

Adjusted EBITDA for this year's second quarter was a negative ($6.2 million) as compared with a negative ($4.3 million) for the same quarter in the prior year. Adjusted EBITDA for the six months ended September 30, 2016 was a negative ($14.4 million) as compared with a negative ($7.3 million) for the same six months ended September 30, 2015. The decreases in Adjusted EBITDA in the second quarter and first six months of the fiscal year resulted from higher cost of revenue and higher selling and general and administrative costs as the Company increased its spending and headcount to support and implement its business initiatives.

Strong Cash Position

The Company has a strong cash position, with $137.0 million in available cash as of September 30, 2016, a decrease of $16.5 million from March 31, 2016 as the Company continued to further develop its DispatchPlus business and invested in the pursuit and development of its spectrum strategies.

Conference Call

The Company will host a conference call at 4:45 p.m. EDT today, November 3, 2016, to discuss its second quarter fiscal 2017 financial results and update investors on its other strategic initiatives. Investors in the United States can participate in the earnings call by dialing into the conference line at 888-267-2845 using the conference code 410788. The earnings call will be available for replay until November 24, 2016 and can be accessed through the pdvWireless Investor Relations website at http://corp.pdvwireless.com/investors/events/. 

About pdvWireless

pdvWireless, Inc. is a private wireless communications carrier and provider of mobile workforce management solutions that increase the productivity of field-based workers and the efficiency of their dispatch and call center operations. pdvWireless has launched and is operating private push-to-talk networks in seven major markets within the United States. Its patented and industry-validated SaaS technology improves team communication and field documentation across a wide array of industries, including transportation, distribution, construction, hospitality, waste management and field service.

pdvWireless' Chairman, Brian McAuley and Vice Chairman, Morgan O'Brien, were the co-founders of Nextel Communications and have over 60 years of combined experience in two-way radio operations and FCC regulatory matters. pdvWireless is headquartered in Woodland Park, New Jersey.

Non-GAAP Financial Information

This press release and the information contained herein present a non-GAAP financial measure, Adjusted EBITDA, which excludes certain amounts. The Company defines Adjusted EBITDA as net income (loss) with adjustments for depreciation and amortization, interest income (expense)-net, other income (expense)-net, income taxes and stock-based compensation. The Company has included below a reconciliation of net loss, the most directly comparable GAAP financial measure, to Adjusted EBITDA. The Company's management uses Adjusted EBITDA to evaluate the Company's performance and provides this financial measure to investors as a supplement to the Company's reported results because management believes this information provides additional insight into the Company's operating performance by disregarding certain nonrecurring or non-cash items or items that are not reflective of the day-to-day offering of its services. Adjusted EBITDA should not be considered in isolation, as a substitute for, or as superior to, financial measures calculated in accordance with GAAP, and the Company's financial results calculated in accordance with GAAP and any reconciliation to those financial statements should be carefully evaluated. The non-GAAP financial measure used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts are forward-looking statements as defined under the Federal securities laws. These forward-looking statements include statements regarding the Company's DispatchPlus business and its sales and marketing initiatives, the regulatory status and timing of the Company's Joint Petition for Rulemaking and the Company's spectrum and other initiatives and opportunities. Any forward-looking statements contained herein are based on the Company's current expectations, but are subject to a number of risks and uncertainties that could cause its actual future results to differ materially from its current expectations or those implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: the Company has a limited operating history with respect to its recently launched DispatchPlus business; the Company has had net losses each year since its inception and may not achieve or maintain profitability in the future; the Company's indirect sales model may not be successful; customers may not adopt the Company's technology or service offerings as quickly as anticipated or in sufficient numbers; the Company's spectrum and other initiatives and opportunities, including its Joint Petition for Rulemaking, may not be successful on a timely basis or at all, may cost more than anticipated, and may continue to require significant time and attention from its senior management team and the expenditure of significant resources; the wireless communication industry is highly competitive and the Company may not be able to compete successfully; and government regulation could adversely affect the Company's business and prospects. These and other factors that may affect the Company's future results or operations are identified and described in more detail in its filings with the Securities and Exchange Commission, (the "SEC"), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2016, filed with the SEC on June 13, 2016 and its quarterly report on Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on November 3, 2016. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results, later events or circumstances or to reflect the occurrence of unanticipated events.

pdvWireless, Inc.
Consolidated Statements of Operations
		Three months ended						Six months ended
		September 30,						September 30,
		2016			2015			2016			2015
Operating revenues			(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Service revenue		$	885,271		$	622,019		$	1,650,576		$	1,270,681
Spectrum lease revenue			182,186			182,186			364,372			364,372
Other revenue			74,050			7,253			172,341			17,265
Total operating revenues			1,141,507			811,458			2,187,289			1,652,318
Cost of revenue
Sales and service			1,674,941			490,585			3,258,722			865,759
Gross profit (loss)			(533,434)			320,873			(1,071,433)			786,559
Operating expenses
General and administrative			5,476,566			4,588,841			13,222,566			8,311,247 Werbung Mehr Nachrichten zur Pacific Datavision Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 09.05.24 - PR Newswire BlackRock Latin American Investment Trust Plc - Blocklisting - Interim Review 09.05.24 - PR Newswire Cohen & Steers Capital Management - Form 8.3 - Tritax Big Box REIT plc 09.05.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Network International Holdings Plc Brandaktuell!    InnoCan Pharma: Großartige Gelegenheit kurz vor den Quartalszahlen?! weiterlesen» Anzeige wo-site-teaser-box-16890_site-teaser-box_2024-05-09_09%253A00%253A00_2024-05-10_09%253A00%253A59