Inseego Corp (INSG)

[slimhere]

Inseego Sees 1Q Revenue Exceeding Consensus of $52M
8:29 am ET April 8, 2020 (Dow Jones) Print

By Michael Dabaie

Inseego Corp. said it expects first-quarter total revenue will exceed current consensus of $52 million.

FactSet consensus of six estimates is for $52.1 million.

The provider of 5G and intelligent IoT device-to-cloud solutions said that since early March, it has experienced growing demand for its mobile connectivity products as the Covid-19 pandemic spurs higher work-from-home, distance learning, and telehealth trends.

Shares were up 7.7%, to $7.84, premarket.

For the second quarter, based on the expansion of its manufacturing capacity as a result of current and expected orders, Inseego said it anticipates revenue in the range $75 million to $85 million.

The company expects to see increased gross margins in IoT & Mobile Solutions based on the ongoing cost reduction initiatives and volume leverage.

"Working with our supply chain partners, we've dramatically increased production capacity to meet the surge in demand for our products, and we're confident in our ability to quickly scale up even further to meet the needs of our customers worldwide," said Chief Executive Dan Mondor.

Write to Michael Dabaie at [e-mail]

(END) Dow Jones Newswires

April 08, 2020 08:29 ET (12:29 GMT)

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