Diverse holdings company DPW Holdings (NYSE American: DPW) this morning reported preliminary financial results for its second quarter ended June 30, 2018. Among other highlights, the company reported preliminary gross revenue for the second quarter to be between $7.1 million and $7.4 million, representing an increase from $1.8 million in the second quarter of 2017 and $5.2 million in the first quarter of 2018. DPW also updated its gross revenue guidance for fiscal year 2018 to between $34 million and $39 million, compared to its previous guidance of $44 million to $49 million. The updated guidance is in response to the later than expected closing of its Enertec Systems and I.AM, Inc. acquisitions. DPW expects to release final results for the period on or before August 20, 2018. In addition, the company is hosting a conference call at 5:00 p.m. ET on Wednesday, August 15, 2018 to discuss the preliminary second quarter results, provide a business update and answer questions. “We continue to execute our stated strategic plan to create a diverse portfolio of assets with global growth potential. Our successful acquisition of Enertec Systems 2001, Ltd. during the second quarter added important engineering talent, which expands the technical design and manufacturing capabilities of each of the companies within our Coolisys subsidiary. As we move forward, we intend to continually evaluate our diverse portfolio of assets, seeking opportunities to capitalize on new market opportunities in advanced technologies and manufacturing, as well as monetize existing assets for the benefit of all DPW Holdings’ shareholders,” DPW Holdings CEO and Chairman Milton “Todd” Ault III stated in the news release.
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About DPW Holdings, Inc.
Headquartered in Newport Beach, California, DPW Holdings, Inc. is a diversified holding company pursuing a growth strategy of acquiring undervalued assets and disruptive technologies with a global impact. The company invests in diverse industries within the commercial, defense/aerospace, industrial, communication, medical, crypto-mining, hospitality, textile and corporate investment/lending sectors. DPW has evolved and grown from being a leader in advanced power products. Through its subsidiaries, the company continues to be a leader and supplier of innovative technologies, advanced design and development services, and state-of-the-art power products and solutions. For more information, visit the company’s website at www.DPWHoldings.com
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