PENNSAUKEN, NJ--(Marketwired - Nov 14, 2013) - Lattice Incorporated (OTCQB: LTTC) ("Lattice" or the "Company"), a provider of advanced information and communications technology solutions to customers globally, announced its financial results for the third quarter ended September 30, 2013. Read More
Third Quarter Financial Highlights:
Revenue increased to $2.2 million
Recurring revenues accounted for 69% of total revenues during the quarter
Positive EBITDA of $226,000
Net income from continuing operations was $61,000
Net income of $49,000
Management projects Secured Communications services segment to grow 70% YoY in FY13.
New cloud-based service offering expected to drive domestic revenue.
International expansion expected to increase revenues and lead to greater market opportunity for LTTC.
Expected to add to cash balance in the short-term.
Lattice Incorporated (“Lattice” or the “Company”), founded in 1973, provides secure communications and information technology, specializing in deploying advanced technology and services to create innovative, cost-effective solutions for the Company’s global customers.
The Company provides both wholesale and direct services to correctional facilities and their service providers in the U.S., Canada and Europe. Expansion of Lattice’s direct and wholesale services, including increased technology equipment and software sales to wholesale customers, is expected to drive revenue growth and increased margins in the quarters ahead.