FREMONT, Calif., Jan. 04, 2018 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) ("DPW" or the "Company"), a diversified holding company, announced today that it has raised its revenue guidance for 2018, on a consolidated basis, from $36 - $38 million to $44 - $49 million. The Company stated it was very pleased with the results of the recent proxy vote including the authority to change its name from Digital Power Corporation to DPW Holdings, which management of the Company believes better reflects its business model, reincorporate into the State of Delaware and launch its new website, www.DPWHoldings.com.
The Company disclosed the following key factors that have driven the change in revenue guidance:
- An increase in gross revenue due to recent acquisitions as well as the assumption that the acquisition of Enertec Systems 2001 Ltd. (“Enertec”) will be completed during the first quarter of 2018; and
- A higher than anticipated growth in our crypto-mining division.
The revenue guidance for crypto-mining is dependent upon the volatility of cryptocurrencies and their value at that time of reporting. For the projected results of crypto-mining we used the following valuations for these cryptocurrencies:
- Bitcoin (BTC) $12,500.00
- Bitcoin Cash (BTH) $ 2,300.00
- Ethereum (ETH) $ 600.00
- Litecoin (LTC) $ 200.00
The Company anticipates guidance to change based upon the fluctuations in the top ten cryptocurrencies over time and as well as on its ability to install and deploy miners in the future. DPW will update its revenue guidance, as necessary, over the course of 2018.
“We are happy with our acquisitions and with the success we have experienced with crypto-mining. We are excited about our prospects for 2018 and our ability to deliver added value to our stockholders as we continue to execute our strategies,” said Milton “Todd” Ault, III, the Company’s Chief Executive Officer and Chairman.
ABOUT DPW HOLDINGS, INC.
Headquartered in Fremont, CA, DPW Holdings, Inc. is a diversified holding company that, through its wholly owned subsidiary, Coolisys Technologies, Inc., is dedicated to providing world-class technology-based solutions where innovation is the main driver for mission-critical applications and lifesaving services. Coolisys’ growth strategy targets core markets that are characterized by “high barriers to entry” and include specialized products and services not likely to be commoditized. Coolisys through its portfolio companies develops and manufactures cutting-edge resonant switching power topologies, specialized complex high-frequency radio frequency (RF) and microwave detector-log video amplifiers, very high-frequency filters and naval power conversion and distribution equipment. Coolisys services the defense, aerospace, medical and industrial sectors and manages four entities including Digital Power Corporation, www.DigiPwr.com, a leading manufacturer based in Northern California, 1-877-634-0982; Digital Power Limited dba Gresham Power Ltd., www.GreshamPower.com, a manufacturer based in Salisbury, UK.; Microphase Corporation, www.MicroPhase.com with its headquarters in Shelton, CT 1- 203-866-8000; and Power-Plus Technical Distributors, www.Power-Plus.com, a wholesale distributor based in Sonora, CA 1-800-963-0066.
Digital Power Lending, LLC, a wholly owned subsidiary of the Company, is based in Fremont, CA, and is a California private lending company dedicated to strategically providing capital to small and middle size businesses for an equity interest in addition to loan fees and interest, www.DigitalPowerLending.com. Excelo, LLC, a wholly-owned subsidiary of the Company, is a national search firm specializing in fulfilling strategic executive, professional and hi-tech placements for businesses delivering world-class services, www.Excelo.com. DPW Holdings, Inc.’s headquarters is located at 48430 Lakeview Blvd., Fremont, California, 94538; 1-877-634-0982; www.DPWHoldings.com.
For Investor inquiries: IR@DPWHoldings.com or 1-888-753-2235.
The foregoing release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the acquisition and the ability to consummate the acquisition. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (1) conditions to the closing of the acquisition may not be satisfied; (2) the acquisition may involve unexpected costs, liabilities or delays; (3) the Company may be adversely affected by other economic, business, and/or competitive factors; (4) the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement; (5) the possibility that the Company may not be able to successfully integrate Enertec with its current business and execute its projected business plan as expected and (6) other risks to consummation of the acquisition, including the risk that the acquisition will not be consummated within the expected time period or at all. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.
Source: DPW Holdings, Inc.