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FTE Networks up 5% post Q1 results

May 21, 2018 12:29 PM ETFTE Networks, Inc. (FTNW) StockFTNWBy: Pranav Ghumatkar, SA News Editor
  • FTE Networks (FTNW +5%reports Q1 revenue growth of 89.1% Y/Y to $85.1M.
  • Q1 overall margins: Gross declined 700 bps to 15.2% & Adj. EBITDA increased 626 bps to 8.7%.
  • Operating expenses were $11.3M (+22.8% Y/Y), the increase in expenses was due to higher stock compensation expense & increased amortization expense of intangible assets.
  • The company announced new infrastructure & technology expansion projects valued at ~$161M YTD.
  • Also, entered into agreement with a global tier-1 commercial real estate owner to provide CrossLayer service for their in-building technology & technology solutions.
  • Achieved a combined backlog of ~$460.7M (+6.2% Y/Y).
  • Cash & equivalents of $9.6M & working capital of $12.5M.
  • 2018 Outlook: Net revenue of $350M; Adj. EBITDA of $30M; Operating Income of $15M & Buildings on-net, 30.
  • Previously: FTE Networks reports Q1 results (May 21)

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