Wireless Telecom Group, Inc. (WTT) Misses Q4 EPS by 2c, Slight Beat on Revenues

Wireless Telecom Group, Inc. (NYSE: WTT) reported Q4 EPS of ($0.03), $0.02 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $12.09 million versus the consensus estimate of $12.03 million.

• Net revenues of $12,091,000
  • A year over year increase of $55,000, or 0.5%, over the same period 2017
• Gross Margin of $5,264,000, or 43.5%
• Net loss of $718,000
• Non-GAAP Adjusted EBITDA of $386,000
• New Customer orders of $14,281,000

Tim Whelan, CEO of Wireless Telecom Group, Inc., commented, “We are pleased with our 2018 accomplishments which included consolidated revenue increases of 14.6% and revenue growth in 2 of our 3 segments, solid gross margins at 45.8%, improved operating income, and increasing Adjusted EBITDA profitability of $4,829,000. We improved our cash flow from operating activities to $3,990,000 leaving us with $5,015,000 of cash on our balance sheet at year-end. We also realized a strong quarter of bookings in Q4 totaling $14,281,000 which increased our backlog from September 30, 2018 by over $2,000,000. We have now realized two consecutive years of improved revenue growth, profitability, and cash flow which are attributable to the execution of our strategy, our investments in our product portfolio, enhancements in our go-to-market approach to improve how we serve our customers, and our lean operating initiatives creating operational leverage. We have made considerable progress on our long-term plans investing in our vision of enabling the development, testing and deployment of wireless technology.”

Mr. Whelan continued, “With regard to our future, we remain committed to a growth strategy which includes both organic growth and acquisition opportunities which align to our vision and are accretive to our organic growth. We remain focused on investing in research and development on innovative solutions to address the growth trends in wireless technology and adding value to our customers across telecommunications, public safety, satellite communications, medical device manufacturing, defense contractors, military and government. We will continue to manage the business over the long term focused equally on revenue growth, improved profitability and cash flow. We believe we will benefit from the expected continuing trends in carrier densification initiatives and 5G deployments, increasing demands for test & measurement solutions and the requirements of private LTE buildouts.”

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

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