Telrad Reports 42% Increase in Revenue in Q1 2020
LOD, Israel, June 3, 2020 /PRNewswire-PRWeb/ -- Telrad Networks, a global provider of innovative LTE telecom solutions, has reported a $1.5 million profit in Q1 2020.
The company's revenue for the first quarter of 2020 was $40.8 million, representing a 42.4% increase compared to the same quarter last year ($28.6 million). Organic growth of Telrad's revenue reached $3.5 million--an improvement of 12.2% by the same year-over-year metric. Gross profit in Q1 2020 rose nearly 65% to more than $6 million (14.9% of revenue) compared to about $3.7 million (12.9% of revenue) in Q1 2019.
"After a long period of dealing with challenges in the company's business operations, we are opening the year 2020 with a return to growth and profitability. These encouraging quarterly results reflect the first fruits of our implementation of a refreshed business strategy alongside the turnaround plan we realized over the past year." said Moti Elmaliach, CEO of Telrad Networks.
About Telrad Networks
Telrad Networks is a global provider of innovative LTE telecom solutions, boasting over 300 4G deployments in 100 countries. Telrad stands at the forefront of the technology evolution with TD-LTE solutions and a path to 5G in the sub-6 GHz market. Since 1951, the company has been a recognized pioneer in the telecom industry, facilitating the connectivity needs of millions of end-users through operators, ISPs and enterprises around the world. (http://www.telrad.com)
Taryn Sipperly
Director of Marketing
Telrad
(844) TELRAD | Taryn.Sipperly@telrad.com
SOURCE Telrad
