CynergisTek (NYSE:CTEK) Reports 1Q18 Profit Down; Misses Street View

CynergisTek (NYSE:CTEK) revealed net loss for the first quarter of $ 0.71 million or $ 0.07 per share, compared to income of $ 0.01 million or $ 0.00 per share, in the year-ago period.

On adjusted basis, CTEK reported income of $ 0.53 million or 5 cents per share.

Headquartered in Mission Viejo, California, the company disclosed, net revenue that reached $ 16.38 million, decreased 10% from $ 18.25 million a year ago.

The consensus estimates from Thomson Reuters are income of $ 0.09 per share from $ 17.52 million in revenue.

In Q1, our focus was to strengthen relationships with our clients, grow the managed services pipeline, and develop and improve our services offerings to better meet existing and emergent client needs, said Mac McMillan, President and CEO of CynergisTek.

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