ADDvantage Technologies Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2022
August 11, 2022 at 04:06 pm EDT
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ADDvantage Technologies Group, Inc. reported earnings results for the third quarter and nine months ended June 30, 2022. For the third quarter, the company reported sales was USD 27.79 million compared to USD 17.02 million a year ago. Net income was USD 0.875 million compared to net loss of USD 2.12 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.17 a year ago.
For the nine months, sales was USD 70.24 million compared to USD 42.43 million a year ago. Net loss was USD 2.55 million compared to USD 7.14 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to USD 0.58 a year ago. Diluted loss per share from continuing operations was USD 0.2 compared to USD 0.58 a year ago.
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. 
