This Day On The Street
Continue to site
ADVERTISEMENT
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 Third Quarter Financial Results Including Revenue Growth Of 24%

Wireless Telecom Group, Inc. (NYSE Amex: WTT) announced today results for the third quarter and nine months ended September 30, 2011.

For the quarter ended September 30, 2011, the Company reported net sales from continuing operations of $7,065,000, compared to net sales from continuing operations of $5,710,000 for the same period in 2010, an increase of 24%.

For the quarter ended September 30, 2011, the Company reported income before taxes from continuing operations of $705,000, or $0.03 per diluted share, compared to income before taxes from continuing operations of $47,000, or $0.00 per diluted shares, for the same period of 2010.

The Company also reported net income from continuing operations of $827,000, or $0.03 per diluted share for the third quarter of 2011, compared to net income from continuing operations of $39,000, or $0.00 per diluted share, for the third quarter of 2010.

For the nine months ended September 30, 2011, the Company reported net sales from continuing operations of $19,614,000, compared to net sales from continuing operations of $17,928,000 for the same period in 2010, an increase of 9%.

For the nine months ended September 30, 2011, the Company reported income before taxes from continuing operations of $1,344,000, or $0.05 per diluted share, compared to income before taxes from continuing operations of $685,000, or $0.03 per diluted share, for the same period of 2010.

For the first nine months of 2011, the Company reported net income from continuing operations of $1,713,000, or $0.07 per diluted share, compared to net income from continuing operations of $657,000, or $0.03 per diluted share, for the same period of 2010.

Paul Genova, CEO of Wireless Telecom Group, Inc. stated, “The third quarter and nine months of 2011 reflects an improved level of sales primarily due to the expansion of our current components along with our new integrated products that enhance network systems in the high growth broadband wireless market for distributed antenna systems (“DAS”). With the advent of 4G and LTE, 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 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.”

Continued Genova, “Growth in the DAS broadband market and increased order flow in the test & measurement segment coupled with our cost reduction efforts in 2011 position the Company for continued improvements in revenue and net income. A strong balance sheet with no operating debt allows the Company to utilize its working capital to maximize shareholder value.”

Wireless Telecom Group designs and manufactures radio frequency (RF) and microwave-based products for wireless and advanced communications industries and markets its products and services worldwide under the Boonton, Microlab and Noisecom brands. Its complementary suite of high performance instruments and components includes peak power meters, signal analyzers, power splitters, combiners, diplexers, noise modules, precision noise and generators. The Company serves both commercial and government markets with workflow-oriented, WiFi, WiMAX, satellite, cable, radar, avionics, medical, and computing applications. Wireless Telecom Group is headquartered in Parsippany, New Jersey, in the New York City metropolitan area, and maintains a global network of Sales and Service offices for excellent product service and support.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs