It was a record-breaking quarter for WidePoint (WYY) - a leading provider of technology-based management solutions - as the company reported record revenues during the first quarter.
The company beat analyst expectations on both the top and bottom lines with revenue surging to $39.6 million, an increase of 81% year-over-year ($21.9M). Analysts were expecting revenue around $25.7 million.
* WYY's midpoint guidance was $28.5 million
As noted on the conference call, the increase in revenues exceeded management's own expectations after guiding for revenues to be in the $26 million to $31 million range ($28.5M