This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wireless Telecom Group Announces First Quarter Financial Results

Wireless Telecom Group, Inc. (NYSE Amex: WTT) announced today results for the first quarter ended March 31, 2011.

For the quarter ended March 31, 2011, the Company reported net sales from continuing operations of $6,077,000, compared to $6,137,000 for the same period in 2010.

The Company also reported net income from continuing operations of $386,000 or $0.02 per diluted share for the first quarter of 2011, compared to net income of $320,000, or $0.01 per diluted share, for the first quarter of 2010, an increase of 21%.

For the quarter ended March 31, 2010, the Company reported a net loss from discontinued operations of $(1,284,000) or $(0.05) per diluted share. The loss in 2010 from discontinued operations consisted of an operating loss of $(675,000), or $(0.03) per diluted share and an additional loss of $(609,000), or $(0.02) per diluted share, which reflected a change in the estimated fair value and cost to dispose of the net assets of Willtek Communications, GmbH.

Paul Genova, CEO of Wireless Telecom Group, Inc. stated “The first quarter of 2011 included severance charges of approximately $100,000 due to the implementation of a cost reduction plan in January 2011 which will benefit us over the remainder of the year. We also retired a low margin product, the 20 watt PIM tester, from our portfolio and sold all remaining inventory. The sale of these units had a onetime negative effect on our gross profit margin in the first quarter of approximately 2% or $125,000. In association with the elimination of this product we had a positive adjustment to net income from continuing operations of $240,000 from the reversal of an associated trade-in warranty.”

Continued Genova, “In 2011, we will continue to focus our efforts to increase revenue growth and improve earnings results from all of our brands. We currently maintain an excellent cash position, have no operating debt and we have a favorable current ratio of approximately 12:1, which significantly exceeds the industry average. We are very encouraged by the recent increased order activity of our Microlab components for deployment in the expanding field of distributed antenna systems and look forward to fulfillment in 2011 of our $1.5M Boonton order with the U.S. Navy.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs