Wireless Telecom Group, Inc. (WTT) Reports Q3 EPS of $0.03; Offers 4Q Revenue Outlook

Wireless Telecom Group, Inc. (NYSE: WTT) reported Q3 EPS of $0.03. Revenue for the quarter came in at $14.02 million.

• Net revenues of $14,019,000 for the 3 months ended September 30, 2018, an increase of 11.6% over the same period last year
• Net income of $558,000 or $0.03 per basic and diluted share for the 3 months ended September 30, 2018, a decrease of $95,000 over the same period last year
• Non-GAAP adjusted EBITDA of $1,754,000 for the 3 months ended September 30, 2018, an increase of 20.4% over the same period last year
• Cash flow from Operations of $1,351,000 for the nine months ended September 30, 2018, an increase of $899,000 over the same period last year

Tim Whelan, CEO of Wireless Telecom Group, Inc., commented, “We are very pleased with the strong quarter of results which were above our expectations and reflect significant organic revenue growth in our Embedded Solutions segment as well as consistently solid performance of the Network Solutions and Test & Measurement segments. We are also especially pleased to have achieved improved third quarter GAAP operating income of $919,000, or 6.6% of revenue, and to have continued the improving trend of non-GAAPAdjusted EBITDA at 12.5% of revenue. Over the last 9 months, we have generated $4,442,000 of Non-GAAP Adjusted EBITDA, reflecting our continued focus on investing for growth while staying focused on profitability and cash flow.”

Whelan continued, “We expect to operate our business with the goal of driving meaningful growth over the next several years, improving both our revenue scale and profitability metrics. We intend to accomplish this through agile investments in new products and markets, aggressive go-to-market and sales strategies that expand our customer base, a disciplined merger and acquisition process, and continuous lean improvements to drive operating leverage. We are enthusiastic about our sales funnel and some large opportunities currently in the bidding and quoting stage. We expect to finish fiscal year 2018 with more than $52 million of revenue, or 13% revenue growth year over year, which would represent our second consecutive year of double digit growth and a return to profitability.”

GUIDANCE:

Wireless Telecom Group, Inc. sees Q4 2018 revenue of $11.75-12.25 million, versus the consensus of $0 million.

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

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