On Wednesday, Quarterhill Inc (NASDAQ: QTRH) stock recorded daily change of 0% to close at $1.55 with the total traded volume of 41,998 shares along average volume of 81812 shares 52 week range of the stock remained $ 1.26 – 2.12 while its day low price was $1.55 and its hit its day high price at $1.58. Its previous closing value stands at $1.55. QTRH total market capitalization is $ 183.87M. Currently stocks EPS is $0.09 while its price to earnings ratio is 17.22
Quarterhill Inc. (“Quarterhill” or the “Company”) (TSX: QTRH) (NASDAQ: QTRH), reported its financial results for the three-month period ended March 31, 2018. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
First quarter 2018 Highlights
Revenue of $12.0 million
Recurring revenues of $4.2 million, representing 35% of total revenue
Adjusted EBITDA* of ($7.3) million
Net loss of $12.0 million, or $0.10 per common share
Hired Russ Stuebing as SVP, Corporate Development, and Neil Urquhart as SVP, Human Resources, to enhance acquisition capabilities
“Financial results in Q1 reflect the variability inherent with WiLAN, our patent license business, and point to the rationale for launching our diversification strategy in 2017,” said Doug Parker, President and CEO of Quarterhill. “While we know the variability can also help this business, as it did in Q3 of last year, as we’ve stated in the past, WiLAN’s performance is best judged over a longer period of time as opposed to quarter-to-quarter, and this was true once again in Q1. WiLAN has an active pipeline of license opportunities with a significant number of ongoing litigations, including multiple at the trial stage, but we will continue to be patient in our negotiations and will only settle when we believe we are being offered fair value for our patents.”
“With IRD and VIZIYA, the first quarter of the calendar year is typically a seasonally slower period for both businesses and this was reflected in our Q1 results. In each case, we had a number of new wins in the quarter, saw continued expansion in both of their respective sales pipelines and we expect improvement as the year progresses with the results from both companies.”
“Our broader vision for Quarterhill is to create substantial value by acquiring, integrating and building companies in the tech sector where we believe we can capitalize on permanent consolidation and convergence trends. We believe there is an established playbook for the type of software-focused M&A strategy we are pursuing that if well executed has been shown to deliver attractive returns to shareholders. Our priorities for 2018 include enhancing performance from our existing portfolio of companies as well as deploying capital on acquisitions. With a growing M&A pipeline and the recent addition of senior resources to our deal team, we expect to invest capital in 2018 but will remain patient and disciplined in our approach and focus only on those acquisition opportunities that meet our strict criteria.”
Approval of Eligible Dividend
The Board of Directors has declared an eligible quarterly dividend of CDN $0.0125 per common share payable on July 6, 2018, to shareholders of record on June 15, 2018.
Shares of Quarterhill Inc. have been recently spotted trading -26.89% off of the 52-week high price. On the other end, company shares have been noted 23.02% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 1.26 – 2.12. Switching over to some distances from popular moving averages, we see that the stock has been recorded 1.63% away from the 50 day moving average and -3.18% away from the 200 day moving average. Moving closer, we can see that shares have been trading 1.14% off of the 20-day moving average.
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As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. David observations and experience give him the insight to stock market patterns and the investor behaviors that create them.
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