💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Pareteum misses on top, bottom lines as it embarks as new company

Published 11/14/2016, 06:05 PM
Pareteum misses on top, bottom lines as it embarks as new company
TEUM
-
  • Pareteum (TEUM -6%) -- the former Elephant Talk Communications -- missed on top and bottom lines with Q3 results that coincided with a three-phase company restructuring.
  • The company slashed headcount during the quarter, to 82 full-time equivalent employees from 265, and expects to save about $10M/year.
  • Revenue fell about 9% to $3.17M. and net loss widened to $13M from a year-ago loss of $4.2M.
  • For 2017, the company's issuing initial guidance of revenue growth of 25% (over annualized Q4 projected revenues of $3M). It also expects positive EBITDA for 2017 with the new cost structure.
  • Conference call to come tomorrow at 11 a.m. ET.
  • Press Release

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.