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Wireless Telecom Group Announces First Quarter Financial Results Including Revenue Growth Of 11%

Wireless Telecom Group’s website address is http://www.wtcom.com. Except for historical information, the matters discussed in this news release may be considered "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. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2009.

See following Selected Financial Results

SELECTED FINANCIAL RESULTS  
(In thousands, except per share amounts)
       
Three months ended
March 31,
 
2010 2009
Statement of Operations Data:
Net sales $ 6,137 $ 5,528
 
Gross profit 2,803 2,626
 
Operating expenses
Research and development 542 520
Sales and marketing 986 1,077
General and administrative 964 1,225
Total operating expenses 2,492 2,822
 
Interest and other (income) expense (12) 36
 
Income (loss) from continuing operations
before income taxes 324 (232)
 
Income (loss) from continuing operations 320 (223)
 
(Loss) from discontinued operations -
net of taxes (1,284) (63)
 
Net income (loss) $ (964) $ (286)
 
Net Income (loss) per common share:
Basic and diluted
Continuing operations $0.01 ($0.01)
Discontinued operations (0.05) (0.00)
Net Income (loss) per common share ($0.04) ( $0.01)
 
Weighted average shares outstanding:
Basic 25,658 25,658
Diluted 25,697 25,658
 

 

March 31, December 31,

2010

2009

 

Balance Sheet Data:

Cash & cash equivalents $ 12,743 $ 14,076
 
Working capital $ 24,932 $ 26,154
 
Total assets $ 43,220 $ 45,132
 
Total liabilities $ 11,178 $ 11,942
 
Shareholders’ equity $ 32,042 $ 33,190




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