The company designs, deploys and manages advanced technological solutions at key government agencies.Lattice Inc. (OTCBB: KTTC), an information and communications technology firm based in Pennsauken, announced today that its backlog of contract wins reached a record $84 million as of November 30. The company said it designs, deploys and manages advanced technological solutions at key government agencies and for mid- to large-sized enterprises.
The Lattice stock soared more than 65 percent, or 15 cents, to 38 cents in early trading. The company posted revenue of $4.3 million in the latest quarter ending September 2007, and earned net income of $2.6 million.
Lattice calculates its backlog as contracts awarded to the company or its subsidiaries, representing the estimated revenues it expects to derive from these contracts over their remaining lives, it said in a press release. That backlog is not necessarily funded and Âthere is no guarantee these revenues will be realized,Â it added