PCTEL Consolidates Into PCTEL Connected Solutions And RF Solutions
PCTEL, Inc. (NASDAQ: PCTI), a leader in simplifying wireless and site
solutions for private and public networks, announced today that it would
combine the Antenna Products Group and Connected Solutions into PCTEL
PCTEL, Inc. (NASDAQ: PCTI), a leader in simplifying wireless and site solutions for private and public networks, announced today that it would combine the Antenna Products Group and Connected Solutions into PCTEL Connected Solutions. Jeff Miller, who has been promoted to President, Connected Solutions will manage that group’s sales, marketing, product and business development, and engineering. Tony Kobrinetz, as Senior Vice President and COO, Connected Solutions, will manage that group’s production, distribution, and manufacturing operations in Bloomingdale, Illinois, Lexington, North Carolina, and Tianjin, China. In that capacity, Tony will also serve as the Corporate CTO and CIO. David Neumann, who has been the Vice President, Global Sales for RF Solutions has been promoted to Vice President and General Manager, RF Solutions. As part of this re-organization, the company’s Network Engineering Services group, led by Bob Joslin, will now report to David. The consolidation of the company’s product and service groups into two businesses reflects the similarity in customers and focus between the scanning receiver business and network services and, similarly, the shared customers and product solutions between Connected Solutions (formerly Telworx) and the Antenna Products Group. “I am fortunate to have a deep and experienced management team that can take on broad and very detailed responsibilities. Jeff and Tony will find both growth opportunities and cost-saving synergies that will propel Connected Solutions to an exciting new scale,” said Marty Singer, PCTEL’s Chairman and CEO. “David Neumann, who worked for this management team at SAFCO Technologies back in the late 90’s and who has made outstanding contributions in building our scanning receiver business in China and with various OEMs, has the support of the entire RFS and former NES organization. He is and will be an outstanding leader for this new organization,” added Singer. The company anticipates that PCTEL Connected Solutions will contribute approximately 70-80 percent of the total revenue in 2013 with RF Solutions contributing the balance. Tim Scronce, who had been leading the Connected Solutions operation has left the company to pursue other interests.
Looking at the universe of stocks we cover at Dividend Channel, on 2/4/15, PC-Tel Inc will trade ex-dividend, for its quarterly dividend of $0.05, payable on 2/13/15. As a percentage of PCTI's recent stock price of $8.35, this dividend works out to approximately 0.60%, so look for shares of PC-Tel Inc to trade 0.60% lower — all else being equal — when PCTI shares open for trading on 2/4/15.