ADDvantage Technologies Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Provides Income Tax Rate Guidance for the Remaining Quarters of Fiscal Year 2018
February 13, 2018 at 08:00 am EST
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ADDvantage Technologies Group, Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, the company's consolidated sales increased 2% to $12.284 million for the three months ended December 31, 2017 compared with $12.095 million for the three months ended December 31, 2016. The increase in sales was in the Telco segment of $1.0 million, partially offset by a decrease in the Cable TV segment of $0.8 million. Loss from operations was $265,668 against income of $426,805 a year ago. Loss before provision for income taxes was $361,762 against income of $330,161 a year ago. Net loss for the three months ended December 31, 2017, was $0.706 million, or $0.07 per basic and diluted share, compared with net income of $0.217 million, or $0.02 per basic and diluted share, for the same period of 2016. Consolidated EBITDA for the three months ended December 31, 2017 was $0.1 million compared with $0.8 million for the same period ended December 31, 2016. Adjusted EBITDA was $145,786 against $842,578 a year ago.
The company estimates that its effective income tax rate for the remaining quarters of fiscal year 2018 will be approximately 27% as a result of the legislation.
ADDvantage Technologies Group, Inc., through its subsidiaries, is engaged in wireless infrastructure services for wireless carriers, tower companies and equipment manufacturers, and distributes and services a comprehensive line of electronics and hardware for the telecommunications industry. Its segments include Wireless Infrastructure Services (Wireless) and Telecommunications (Telco). The Wireless Segment provides wireless infrastructure services for the four United States wireless carriers, communication tower companies, national integrators, and original equipment manufacturers. These services consist of the installation and upgrade of technology on cell sites and the construction of new small cells for fifth generation (5G). The Telco segment sells new and refurbished telecommunications networking equipment, including both central office and customer premise equipment. This segment also offers its customers repair and testing services for telecommunications networking equipment.
ADDvantage Technologies Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Provides Income Tax Rate Guidance for the Remaining Quarters of Fiscal Year 2018
ADDVANTAGE TECHNOLOGIES GROUP, INC. 
