Wireless Telecom Group, Inc. (NYSE Amex: WTT) announced today results for the second quarter and six months ended June 30, 2011.
For the quarter ended June 30, 2011, the Company reported net sales from continuing operations of $6,473,000, compared to $6,081,000 for the same period in 2010, an increase of 6%.
The Company also reported net income from continuing operations of $501,000 or $0.02 per diluted share for the second quarter of 2011, compared to net income of $298,000, or $0.01 per diluted share, for the second quarter of 2010.
For the six months ended June 30, 2011, the Company reported net sales from continuing operations of $12,550,000, compared to $12,218,000 for the same period in 2010, an increase of 3%.For the first six months of 2011, the Company reported net income from continuing operations of $887,000, or $0.04 per diluted share, compared to net income of $619,000, or $0.02 per diluted share, for the same period of 2010. Paul Genova, CEO of Wireless Telecom Group, Inc. stated: “The second quarter and first half of 2011 reflects an improved level of sales primarily due to our expansion into the design, manufacture and supply of components to the high growth broadband wireless market for distributed antenna systems (“DAS”). Broadband capacity and coverage is expected to grow significantly over the next few years and we have targeted this market as a significant growth area for the Company to focus its resources. “In addition, we continue to pursue opportunities to advance our test & measurement segment of the business as evidenced by the July 2011 increase in our order backlog of $3 million over the previous year. This increase is due to an initial firm order placed by the Department of the United States Navy for Boonton’s 4500 RF Peak Power Meters to be fulfilled over the next twelve months.”
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