Wi2Wi Corporation Reports Third Quarter 2023 Financial Results Amidst Market Headwinds and Prepares for New Leadership
Wi2Wi Corporation Reports Third Quarter 2023 Financial Results Amidst Market Headwinds and Prepares for New Leadership
(Unaudited)
(未經審計)
TORONTO, ON / ACCESSWIRE / November 17, 2023 / Wi2Wi Corporation (Wi2Wi) today announced its unaudited financial results for the third quarter ended September 30, 2023. The company reported revenues of $1.42 million, reflecting a strategic realignment in the face of global supply chain challenges and delayed customer orders, which are expected to resume to normal levels in the coming months.
安大略省多倫多/ACCESSWIRE/2023年11月17日/Wi2Wi公司(Wi2Wi)今天公佈了截至2023年9月30日的第三季度未經審計的財務業績。該公司公佈的收入爲142萬美元,反映了面對全球供應鏈挑戰和延遲的客戶訂單而進行的戰略調整,預計未來幾個月客戶訂單將恢復到正常水平。
"While we encountered headwinds this quarter, with revenues impacted by broader market forces, we are encouraged by our positive cash flow and the strategic adjustments we've enacted," said Mr. Gary DuBroc, Chairman of the Board. "Our financial stability is underscored by our solid cash position and shareholders' equity, and we are on track with the planned transition to new leadership."
董事會主席加里·杜布羅克表示:“儘管本季度我們遇到了阻力,收入受到更廣泛的市場力量影響,但我們的正現金流和我們已經頒佈的戰略調整令我們感到鼓舞。”“穩健的現金狀況和股東權益突顯了我們的財務穩定,我們正按計劃向新領導層過渡。”
Key Financial Highlights:
主要財務亮點:
- Revenue for Q3 2023 reported at $1.42 million, with external factors influencing a temporary deferment in customer orders.
- Bookings remained on target, signaling sustained demand for Wi2Wi's high-quality frequency oscillators.
- Positive cash flow achieved in Q3 2023 is a notable improvement over the prior year's negative cash flow.
- The Company is actively managing margin pressures due to increased raw material costs and freight charges.
- 2023年第三季度的收入爲142萬美元,外部因素影響了客戶訂單的暫時延期。
- 預訂量仍保持在目標水平,這表明對Wi2Wi高質量頻率振盪器的需求持續增長。
- 2023 年第三季度實現的正現金流與上一年的負現金流相比有了顯著改善。
- 由於原材料成本和運費增加,公司正在積極管理利潤壓力。
"The delayed orders, which have affected our quarterly revenue, are expected to be a temporary situation," Mr. DuBroc added. "Our key customers have assured us of the transitory nature of these delays and anticipate a return to normal order levels shortly. As we finalize the appointment of new leadership, Wi2Wi remains steadfast in its commitment to operational excellence and financial discipline."
杜布羅克補充說:“延遲的訂單影響了我們的季度收入,預計將是暫時的。”“我們的主要客戶向我們保證,這些延誤是過渡性的,並預計很快會恢復到正常的訂單水平。在我們完成新領導層的任命之際,Wi2Wi仍然堅定不移地致力於卓越運營和財務紀律。”
3 Months ending September 30, 2023, Overview (Unaudited)
截至 2023 年 9 月 30 日的 3 個月,概覽(未經審計)
(In thousands of U.S. dollars) |
Quarter 3, 2023 | Quarter 3, 2022 | ||||||
Revenue |
$ | 1,421 | $ | 2,020 | ||||
Net income |
(355 | ) | (286 | ) | ||||
Net Cash Provided by (Used in) Operations |
183 | (154 | ) | |||||
Total current assets |
4,774 | 5,951 | ||||||
Cash on hand |
1,012 | 1,517 | ||||||
Total current liabilities |
1,222 | 1,522 | ||||||
Shareholders' equity |
4,280 | 5,432 |
(以千美元計) |
2023 年第三季度 | 2022 年第三季度 | ||||||
收入 |
$ | 1,421 | $ | 2,020 | ||||
淨收入 |
(355) | ) | (286) | ) | ||||
運營提供的(用於)業務的淨現金 |
183 | (154) | ) | |||||
流動資產總額 |
4,774 | 5,951 | ||||||
手頭現金 |
1,012 | 1,517 | ||||||
流動負債總額 |
1,222 | 1,522 | ||||||
股東權益 |
4,280 | 5,432 |
Wi2Wi is navigating through the economic turbulence with a clear focus on enhancing value for shareholders and ensuring the delivery of top-tier products to our customers. The upcoming finalization of new leadership marks the beginning of a new chapter, one in which Wi2Wi is poised to harness the growth potential of the burgeoning oscillator market.
Wi2Wi正在渡過經濟動盪,其明確重點是提高股東的價值並確保向我們的客戶交付頂級產品。新領導層即將上任,標誌着新篇章的開始,在這個篇章中,Wi2Wi有望利用新興振盪器市場的增長潛力。
Detailed and historical financial information is available here.
提供詳細的歷史財務信息 這裏。
Investor & Media Contact
投資者和媒體聯繫人
Dawn Leeder, Chief Financial Officer
+1-608-203-0234
dawn_l@wi2wi.com
首席財務官 Dawn Leeder
+1-608-203-0234
dawn_l@wi2wi.com
About Wi2Wi Corporation
關於 Wi2Wii Corporation
Wi2Wi enables customers to substantially reduce their wireless R&D expenses and time to market. Wi2Wi designs, manufactures, and markets deeply integrated, end-to-end wireless connectivity solutions as well as customizable, high-performance timing and frequency control devices. Wi2Wi provides real-time technical support throughout the entire product life cycle for customers across the Internet of Things (IoT), Industrial Internet of Things (IIoT), Avionics, Space, Industrial, Medical, and Government sectors.
Wi2Wi使客戶能夠大幅減少無線研發費用和上市時間。Wi2Wi設計、製造和銷售深度集成的端到端無線連接解決方案以及可定製的高性能定時和頻率控制設備。Wi2Wi 在整個產品生命週期中爲物聯網 (IoT)、工業物聯網 (IIoT)、航空電子、太空、工業、醫療和政府部門的客戶提供實時技術支持。
Wi2Wi was founded in 2005 and is strategically headquartered in San Jose, California with satellite offices in Middleton, Wisconsin and Hyderabad, India. Wi2Wi's manufacturing operations, its laboratory for reliability and quality control, together with design and engineering for timing and frequency control devices are located in Middleton, Wisconsin. The branch office, located in Hyderabad, India, focuses on developing end to end wireless connectivity subsystems and solutions.
Wi2Wi成立於2005年,戰略性總部位於加利福尼亞州聖何塞,在威斯康星州米德爾頓和印度海得拉巴設有衛星辦事處。Wi2Wi的製造業務、可靠性和質量控制實驗室以及定時和頻率控制設備的設計和工程位於威斯康星州的米德爾頓。分支機構位於印度海得拉巴,專注於開發端到端的無線連接子系統和解決方案。
Wi2Wi has partnered with best-in-class global leaders in technology, manufacturing and sales. The company uses a global network of manufacturer's representatives to promote its products and services, and has partnered with world class distributors for the fulfillment of orders along with direct sales.
Wi2Wi已與技術、製造和銷售領域的一流全球領導者合作。該公司利用製造商代表的全球網絡來推廣其產品和服務,並與世界一流的分銷商合作,在履行訂單的同時進行直接銷售。
Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward- looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
前瞻性陳述:本新聞稿包含某些前瞻性陳述,包括管理層對未來計劃和運營的評估及其時機,這些陳述涉及大量已知和未知的風險和不確定性,其中某些風險和不確定性超出了公司的控制範圍。此類風險和不確定性包括但不限於與獲得足夠資本的能力相關的風險、加拿大、美國和海外總體經濟狀況的影響、行業狀況、股市波動。公司的實際業績、業績或成就可能與這些前瞻性陳述中表達或暗示的業績、業績或成就存在重大差異,因此,無法保證前瞻性陳述所預期的任何事件將會發生或發生,也無法保證公司將從中獲得哪些收益,包括收益金額。提醒讀者,上述因素清單並不詳盡。有關這些因素以及可能影響公司運營和財務業績的其他因素的更多信息包含在向加拿大證券監管機構存檔的報告中,可通過SEDAR網站進行訪問()。前瞻性陳述是根據管理層在陳述發表之日的信念、估計和意見做出的,除非適用法律要求,否則公司沒有義務更新前瞻性陳述,也沒有義務更新這些信念、估計和意見或其他情況是否會發生變化。這些警示性陳述對隨後歸因於公司或代表公司行事的人的所有前瞻性陳述,無論是書面還是口頭陳述,均明確進行了全面限定。此外,本新聞稿中包含的前瞻性陳述是在本新聞稿發佈之日作出的,除非適用的證券法另有要求,否則公司沒有義務公開更新或修改所包含的任何前瞻性陳述,無論是由於新信息、未來事件還是其他原因。
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險投資交易所及其監管服務提供商(該術語在多倫多證券交易所風險投資交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
SOURCE: Wi2Wi Corporation
資料來源:Wi2Wi 公司