DPW Holdings Inc (NYSEAMERICAN: DPW) is off to an incredibly strong start in the pre-market hours this morning, and for good reason. The company released a guidance update that seems to be a source of excitement for investors. Today, we’ll talk about the update, what we’re seeing from DPW, and what we’ll be watching for ahead.
DPW Provides Guidance Update
As mentioned above, DPW Holdings is having an incredibly strong start to the trading session this morning after releasing a PR with regard to a guidance update. Recently, there have been concerns about the company’s ability to reach previously announced guidance as cryptocurrencies take a dive. However, the company made it clear that they are still on track with regard to revenue guidance.
In the release that was issued early this morning, DPW said that gross consolidated revenues for 2018 are still expected to range between $44 million and $49 million. In the release, the company made a note that diversification is key. Through their diversification efforts, the company and its subsidiaries span multiple sectors with a strong customer base of commercial clients and government agencies. DPW pointed to the fact that revenues are derived from the manufacturing of advanced power supplies and solutions for commercial, medical, military and aerospace applications. As a result, the company’s revenue growth is expected to continue dispite recent volatility in the top cryptocurrencies and concern in the crypto-marketplace. In a statement, Milton “Todd” Ault, III, CEO and Chairman at DPW Holdings, had the following to offer:
We remain committed to our holding company business model as well as our acquisition and organic growth strategies. One of our corporate strengths is our diversification… With any disruptive new technology there is a healthy vetting process. We would argue the recent downturn of cryptocurrencies is a positive step, necessary for its longevity and success. We believe in the long-term value proposition of cryptocurrency and blockchain technologies. DPW is dedicated to our crypto-mining efforts and our development and manufacturing products and services for the crypto-marketplace.
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