The security software announced that it was selected as the winning bidder for contracts totaling more than $25 million. SuperCom did not say which government customers the contracts come from.. Most fo the revenue from the contracts will be seen in 2014.
"We are very pleased that we are starting to realize the potential of our vast and growing pipeline," SuperCom president and CEO Arie Trabelsi said in a statement. "These type of contracts, as we have seen in the past, has the potential to lead to long-term relationships and additional orders in future."
SuperCom also announced its yearly results for 2013 Thursday. The company reported earnings of 70 cents a share for the year, up from 59 cents a share in 2012. Revenue fell 1.3% from 2012 to $8.8 million.
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TheStreet Ratings team rates SUPERCOM LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUPERCOM LTD (SPCB) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, revenue growth, solid stock price performance, growth in earnings per share and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."