Wireless Telecom Group, Inc. (WTT) Reports Q1 Loss of $0.06 on Revenues of $9.55M; Q2 Rev Outlook of $11.0-11.5M

Wireless Telecom Group, Inc. (NYSE: WTT) reported Q1 EPS of ($0.06). Revenue for the quarter came in at $9.55 million, versus $0 reported last year.

GUIDANCE:

Wireless Telecom Group, Inc. sees Q2 2017 revenue of $11-11.5 million.

The Company expects the following for the quarter ended June 30, 2017 for the 3 combined segments:

• Revenue between $11,000,000 - $11,500,000
• Gross margins between 47-48%
• Non-GAAP operating expenses between $4.6 and $4.8 million (specifically, the Company’s GAAP operating expenses, excluding depreciation expense, amortization expense, stock compensation expense, restructuring charges, purchase accounting adjustments in accordance with US GAAP, and non-recurring CommAgility acquisition and integration expenses, which cannot be itemized with particularity for reconciliation to the comparable GAAP measure at this time).

Highlights:

• Creation of the Embedded Solutions segment with the completion of the CommAgility transaction
• Signed and closed February 17th, 2017
• Net revenues of $9,549,000 for the quarter ended March 31, 2017
• A year over year increase of $3,181,000, or 50%, over the same period 2016
• Reflects revenue increases across both the Network and Test & Measurement segments of 31% and 41%, respectively, compared to the same period 2016
• Includes $997,000 of Embedded Solutions revenue for the period of ownership from February 17, 2017 through March 31, 2017
• Gross Margin of $4,333,000 for the quarter ended March 31, 2017, or 45.4%
• A year over year increase of $1,613,000, or 59.3%, over the same period 2016
• Includes $538,000 of Embedded Solutions gross margin for the period of ownership from February 17, 2017 through March 31, 2017
• March 31, 2017 backlog of firm orders of $6,750,000
• An increase of $2,750,000 over the backlog at year-end December 31, 2016
• Includes $2,550,000 of Embedded Solutions backlog at March 31, 2017

For earnings history and earnings-related data on Wireless Telecom Group, Inc. (WTT) click here.

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