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Borqs Technologies Reports Third Quarter 2017 Results

BORQS TECHNOLOGIES INC (BRQS)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: borqs.com/investors-relations
PDF Exceeded Internal Quarterly Targets for Revenue and also for Non-GAAP Adjusted Net Income Third Quarter 2017 Highlights: Revenue for the Company’s third quarter ended September 30, 2017 was $44.9 million as compared to $27.5 million from the same quarter last year, representing an increase of $17.4 million or 63.2%.On US-GAAP basis, the Company had a net loss of $11.6 million. Excluding non-cash non-recurring 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) and warrant related charges of $0.14 million, the Company’s non-GAAP adjusted net income for the third quarter was $3.1 million as compared to a net loss of -$2.1 million from a year ago. SANTA CLARA, Calif., Nov. 20, 2017 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq:BRQS) (the “Company”), a global leader in embedded software and products for the Internet of Things (IoT), today reported financial results for t [Read more]

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