05/17/2021 | Press release | Archived content
DALLAS, May 17, 2021-- COMSovereign Holding Corp. (NASDAQ: COMS) ('COMSovereign' or the 'Company'), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, today reported financial results for the first quarter ended March 31, 2021.
'First quarter results are in-line with expectations and reflect our pre-investment level of operations as the growth capital secured in January and February was not deployed into production until late in the quarter. These investments include more than $5.7 millioninto software, hardware component inventory, and securing increased production capabilities at our contract manufacturers. We believe these investments will not only bring us new revenue centers but will support accelerated production levels and allow us to meet a growing pipeline of product orders from customers. These orders will initially be filled by our contract manufacturing partners and in the near future, from our newly-renovated Tucson manufacturing facility,' said Dan Hodges, Chairman and CEO of COMSovereign Holding Corp.
First Quarter Business Highlights:
Hodges concluded, 'The second quarter has started off strong, as activity across the entire organization continues to increase as customers turn to COMSovereign to solve some of their most pressing wireless network connectivity issues. Although there are some headwinds due to factors such as chip shortages, we believe we are well positioned to deliver some of the most advanced and reliable products in the market today, and with our forthcoming Polaris products later this year - continue to set the standard for years to come.'
First Quarter 2021 Results Conference Call
COMSovereign Holding Corp. Chairman and CEO Dan Hodgeswill host the conference call, followed by a question-and-answer period.
To access the call, please use the following information:
Date: |
Monday, May 17, 2021 |
Time: |
4:30 p.m. Eastern time, 1:30 p.m. Pacific time |
Toll-free dial-in number: |
1-877-300-8521 |
International dial-in number: |
1-412-317-6026 |
Conference ID: |
10156437 |
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization.
The conference call will be broadcast live and available for replay at http://public.viavid.com/index.php?id=144924 and via the investor relations section of the Company's website at www.comsovereign.com.
A replay of the conference call will be available after 7:30 p.m. Eastern timethrough May 24, 2021.
Toll-free replay number: |
1-844-512-2921 |
International replay number: |
1-412-317-6671 |
Replay ID: |
10156437 |
For more information about COMSovereign, please visit www.COMSovereign.com and connect with us on Facebook and Twitter.
About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) has assembled a portfolio of communications technology companies that enhance connectivity across the entire data transmission spectrum. Through strategic acquisitions and organic research and development efforts, COMSovereign has become a U.S.-based communications provider able to provide 4G LTE Advanced and 5G-NR telecom solutions to network operators and enterprises. For more information about COMSovereign, please visit www.COMSovereign.com.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as 'believe,' 'expects,' 'may,' 'looks to,' 'will,' 'should,' 'plan,' 'intend,' 'on condition,' 'target,' 'see,' 'potential,' 'estimates,' 'preliminary,' or 'anticipates' or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, the impact of the current COVID-19 pandemic, which may limit access to the Company's facilities, customers, management, support staff, and professional advisors, and to develop and deliver advanced voice and data communications systems, demand for the Company's products and services, the availability of parts and components for the manufacture of products, economic conditions in the U.S. and worldwide, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:
Steve Gersten, Director of Investor Relations
COMSovereign Holding Corp.
813-334-9745
[email protected]
External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
[email protected]
www.mzgroup.us
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
[email protected]
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SOURCE COMSovereign Holding Corp.