Borqs Technologies Reports Annual and Q4 2017 Results
Borqs Technologies, Inc. - Ordinary Shares (BRQS)
US:NASDAQ Investor Relations:
borqs.com/investors-relations
Company Research
Source: GlobeNewswire
Annual sales grew 28%, Quarterly sales grew 33.3% over the same quarter in 2016 Annual 2017 Highlights: Revenue for the Company’s year ended December 31, 2017 was $154.3 million as compared to $120.6 million from the year 2016, representing an increase of $33.7 million or 28.0%.On US-GAAP basis, the Company had a net loss of $12.4 million. Excluding non-cash merger related costs of $14.5 million (consisting of one-time historical option charges of $5.7 million and stock-based compensation expenses of $8.8 million), the Company’s non-GAAP adjusted net income for the year was $2.1 million. GAAP net income in 2016 was $2.6 million. Fourth Quarter 2017 Highlights: During the last quarter in 2017, we had significant increase in our hardware sales, which reached $43.5 million from $29.9 million in the same quarter a year ago, representing an increase of 45.5%.Sales from our MVNO was $9.9 million for the fourth quarter as compared to $6.0 million a year ago, representing an increase of
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