DirectView Holdings, Inc. Reports Earnings Results for the Full Year Ended December 31, 2017
April 19, 2018 at 01:21 pm
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DirectView Holdings, Inc. reported earnings results for the full year ended December 31, 2017. For the year, the company’s total revenues reached a record $2.9 million, increasing by 531% compared to $461,000 in 2016. The record revenue was a result of a $2.1 million increase in product sales coupled with a $375,000 increase in services revenue. The revenue gains were mainly attributable to the company's acquisition of Virtual Surveillance, LLC and ApexCCTV, LLC. The company's operating loss narrowed to $873,000 in 2017 compared to an operating loss of $1.4 million in 2016. Net loss attributable to the company's shareholders in 2017 narrowed by $3.2 million to $1.6 million or $0.22 per share on 6.98 million weighted average shares outstanding compared to a net loss of $6.7 million or $16.95 per share on 280,943 weighted average shares outstanding.
DirectView Holdings Inc is a United States-based provides security-related services for residential, commercial, and industrial. The Company, through its subsidiaries, provides video surveillance solutions and teleconferencing products and services to businesses and organizations. It operates in two divisions: Security (Video Surveillance) and Video Conferencing. The Security division offers technologies in surveillance systems providing onsite and remote video and audio surveillance, digital video recording, and services. It also sells and installs surveillance systems and sells maintenance agreements. The Video conferencing division offers teleconferencing products and services that enable clients to conduct remote meetings by linking participants in geographically dispersed locations. The Video Conferencing division provides conferencing products and services to organizations such as law firms, banks, high tech companies and government organizations.
DIRECTVIEW HOLDINGS, INC. 
