Exhibit 99.1

 

LOGO

OSS Reports Second Quarter 2018 Results; Increases 2018 Guidance and

Announces Acquisition of Concept Development

Escondido, CA – August 8, 2018 – OSS (NASDAQ: OSS), a leader in high-performance computing, reports results for the quarter ended June 30, 2018, provides guidance for Q3 and Q4 of 2018, and plans to acquire Irvine, California-based Concept Development, Inc. (CDI).

Financial & Operational Summary

 

   

Second quarter revenue of $5.9 million vs. year-ago quarter of $7.5 million, with decline due to lower sales to an OEM media and entertainment customer and a military program scheduling delay.

 

   

Outlook for revenue growth of 68% to 82% in the second half of 2018 vs. second half 2017. Growth drivers include:

 

  o

Military flash-array program ramp-up: Received $3 million purchase order in Q2 for military flash data storage units. Shipments planned for Q3 2018.

 

  o

New design opportunities: Issued more proposals with values in excess of $1.0 million than in any time in company history.

 

  o

Recent design wins: Won significant design-ins for new customized servers and new flash array with Ion software.

 

  o

Customized server shipments increase: OEM media and entertainment customer has increased forecast for Q3 and Q4 shipments to record levels.

 

  o

New CDI acquisition

Concept Development Acquisition

OSS is finalizing a definitive agreement to acquire CDI, with closing expected by end of August.

Strategic benefits:

 

   

Access to in-flight entertainment market and customers

 

   

Technical expertise in design and manufacturing airborne equipment

 

   

Significant OEM design-ins and new opportunities

 

   

Enhances OSS technical capabilities

Financial elements:

 

   

Proposed consideration: $4.9 million in stock and $1.0 million in cash

 

   

Adds $4 million to $6 million in projected annual revenue

 

   

Profitable, with 38%-42% gross margin

Other Recent Events

 

   

Executed lease extension for headquarters with additional space. Consolidates San Diego facilities to achieve higher efficiencies and lower costs.

 

1


The following information was filed by One Stop Systems, Inc. (OSS) on Thursday, August 9, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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