Edgewater Wireless announces FY 2018 financial results

Edgewater Wireless Systems Inc. (TSX-V:YFI) (OTCQB:KPIFF), the developer of WiFi3â„¢ multi-channel WiFi chipsets and access point products for high-density wireless networks has released its Fiscal Year 2018 financial results, the company said.

These results are for the period ended April 30, 2018 and have been filed with the Canadian Securities Administrators and are now available on SEDAR.

Milestones in 2018 included: USD 1.1M in purchase orders from Kroger Co. (NYSE: KR), the largest operator of supermarkets in the USA. Mediacom Communications awarded the company Approved Wireless Vendor status.

Fiscal year revenue declined to USD 72,600, largely attributed to global supply shortages of key third party components. The company faced increased production lead times from critical suppliers of key components from a historical 4-8 weeks to 12-18 weeks.

Edgewater Wireless develops and commercializes edge technologies and intellectual property for the communications market. Edgewater Wireless delivers advanced product solutions designed to meet the high-density, high quality of service (QoS) and high-reliability needs of service providers and their customers.