Digerati Technologies reports Q1 EPS (3c) vs. (3c) last year

Reports Q1 revenue $7.65M vs. $8.13M last year. Craig K. Clement, Executive Chairman and interim CEO of Digerati, commented, “While our revenue was down slightly, we can report a company record of 66.7% gross margin. This continued improvement of gross margin is up from the 50% level four years ago and demonstrates the strength of our business. Since the acquisitions of Skynet in December 2021 and NextLevel Internet in February 2022, our operational focus has been more on profitable revenue streams and eliminating certain segments of our network that cost more to operate than they earn. The decline in revenue was done purposely and deliberately to optimize the business. With service to nearly 5,000 business customers and approximately 50,000 users, predominantly in Florida, Texas and California, we believe we have built a reliable and valuable platform in which to stack additional acquisitive and organic growth.”