Teligent, Inc. (NASDAQ:TLGT) is up 4% this morning after coming out with news. Volume is already 676,000 shares at 9:45.
Teligent Reports 1Q
It recorded a revenue of $11.6 million, up 56.76% compared to 1Q 2020. The increase of $4.1 million was due to “orders from private label customers, wholesale restocking and fewer Canadian supply constraints”.
Cost of Revenue came in at $12.8 million, up from $8.6 million in the year-ago period.
Gross profit margin stood at -10.5% compared to -15.6% in 1Q2020. The improvement was due to higher sales among other factors.
Net Income was $2.2 million for 1Q2021 versus a net loss of $26.8 million n 1Q2020. The increase in income was primarily due to a gain on debt restructuring of $22.4 million offset by higher operating and interest expense as well as other expenses related to the debt restructure.
The company has not provided guidance.
The improved earnings results had a positive impact on TLGT’s stock in the pre-market. The share jumped 4.69% at 9:22 to $0.54. Volume traded is 1.19 million shares almost half of its 30-day average of 2.49 million shares. TLGT opened at $0.537 on Tuesday.
Potential turning points in TLGT are 0.5187 and 0.5215 above and 0.5083 and 0.5111 below.