Hammer Announces Third Quarter Financial Results

Hammer has announced operating and financial results for the third quarter period, which ended April 30th, 2019.

Key results include:

  • Total revenues for the quarter increased to $1,071,212 from $56,550, a 1894% increase versus the same quarter in the prior year.
  • The net loss from operations for the quarter decreased to $77,883 from $1,019,505, a 93.4% decrease versus the same quarter in the prior year.
  • The company attended a number of high profile events during the period, including Mobile World Congress in Barcelona, the Pacific Telecom Council and a number of other carrier industry events which contributed to $83,889 in extraordinary marketing expenses.
  • 1stPoint Communications, Endstream Communications, Open Data Centers and Shelcomm are consolidated and accretive to Hammer’s Q3 results
  • The announcement of our market deployments in Huntsville, AL, Homewood and Birmingham, AL, Sierra Leone and various Caribbean markets
  • The progression of the construction of our networks in Sierra Leone and Dominica
  • Recent enhancements to the SMS/Messaging network and increased international coverage

“We continue to add customers to both our retail and wholesale networks,” said Kristen Vasicek, Hammer’s COO. “As we complete construction in our international markets we will begin to see organic growth from our Hammer Wireless division while we pursue expansion of the underlying platform.”