Please wait while we load the requested 10-Q report or click the link below:
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:
Military flash-array program ramp-up: Received $3 million purchase order in Q2 for military flash data storage units. Shipments planned for Q3 2018.
New design opportunities: Issued more proposals with values in excess of $1.0 million than in any time in company history.
Recent design wins: Won significant design-ins for new customized servers and new flash array with Ion software.
Customized server shipments increase: OEM media and entertainment customer has increased forecast for Q3 and Q4 shipments to record levels.
New CDI acquisition
Concept Development Acquisition
OSS is finalizing a definitive agreement to acquire CDI, with closing expected by end of August.
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
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.
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.
View differences made from one quarter to another to evaluate One Stop Systems, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by One Stop Systems, Inc..