Benzinga | Apr 30, 2021 08:14AM EDT

SuperCom FY20 Sales $11.8M, Down 29% YoY

SuperCom(NASDAQ:SPCB),a global provider of secured solutions for the e-Government, IoT and Cybersecurity sectors, today reported results for the twelve months ended December 31, 2020.

Twelve-Months Ended December 31, 2020 Financial Highlights (Compared to the Prior Year Period)

* Cash and cash equivalents and restricted cash increased to $4.0 million from $1.2 million last year.

* Revenue decreased 29% to $11.8 million in 2020, from $16.5 million last year, mainly due to material impact from Covid-19 related government restrictions and limitations.

* Gross margin increased to 47.4% in 2020 from 38.5% last year.

* Operating expenses in 2020 decreased 36% to $9.3 million from $14.5 million last year.

* EBITDA improved to $2.8 million in 2020 compared to an EBITDA loss of $(0.5) million in 2019.