High Wire Networks, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 04:05 pm EDT
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High Wire Networks, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 13.73 million compared to USD 4.41 million a year ago. Net income was USD 5.37 million compared to net loss of USD 1.96 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 0.49 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 0.49 a year ago. Basic earnings per share was USD 0.1 compared to basic loss per share of USD 0.43 a year ago. Diluted earnings per share was USD 0.07 compared to diluted loss per share of USD 0.43 a year ago.
For the six months, sales was USD 26.41 million compared to USD 6.87 million a year ago. Net income was USD 10.32 million compared to net loss of USD 2.09 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to basic loss per share from continuing operations of USD 1.26 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to diluted loss per share from continuing operations of USD 1.26 a year ago. Basic earnings per share was USD 0.2 compared to basic loss per share of USD 0.91 a year ago. Diluted earnings per share was USD 0.15 compared to diluted loss per share of USD 0.91 a year ago.
High Wire Networks, Inc. is a provider of managed cybersecurity, managed networks, and tech enabled professional services delivered through a channel sales model. The Company's offerings include Managed Services and Technology Solutions. The Managed Services segment includes Overwatch Managed Security business, which offers organizations an end-to-end protection for networks, data, endpoints, and users via multiyear recurring revenue contracts. Overwatch delivers services through Managed Service Providers (MSPs), strategic partnerships and alliances, and Value-Added Resellers (VARs). The Technology Solutions segment provide technology enabled professional and managed services for a range of clients. This segment provides planning, installation, project management, and ongoing support for break/fix services. It delivers a range of services across a range of technologies that include Wi-Fi, networking, SD-WAN, distributed antenna systems, wireless carrier networking, and others.
HIGH WIRE NETWORKS, INC. 
