Wireless Telecom Group, Inc. (WTT)

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WTThttp://www.nasdaq.com/symbol/wttCapital Goodsn/aElectrical Products

Latest Wireless Telecom Group, Inc. (WTT) company news

Wireless Telecom Group Showcases Products for 5G and Millimeter Wave Development, Deployment and Test at IMS 2018

PARSIPPANY, N.J.--(BUSINESS WIRE)--

Wireless Telecom Group (NYSE American:WTT) will be showcasing its latest products and technologies which enable the development, deployment and test of next generation wireless communications and connectivity at IMS 2018 in Philadelphia, Pennsylvania. Product demonstrations will highlight the company’s development of technology for 5G and millimeter wave applications as well as radar and electronic warfare, private LTE networks, in-building wireless and over the air testing. For the first time at IMS all four of the company’s brands, Boonton Electronics, CommAgility, Microlab and Noisecom will exhibit side by side demonstrating the full portfolio of the Wireless Telecom Group businesses.

Boonton Electronics

With 5G driving wider bandwidths and higher frequencies, the need for broadband, high frequency RF power measurement is becoming more important. Boonton USB power sensors provide an industry leading 195 MHz of video bandwidth, and capability into the millimeter wave range with sensors up to 40 GHz. With unique Real-Time Power Processing™, Boonton sensors have virtually zero measurement latency minimizing the chance of missing any waveform dropouts our anomalies. These capabilities are ideal for verifying new radio signals in development, for ensuring proper operation during production, and for troubleshooting issues in the field. Boonton will demonstrate these Real Time Power sensors alongside its two newest products, the CPS2000 Connected Power Sensor for low cost, high volume manufacturing test of wireless devices and the 4500C Peak Power Analyzer for high performance radar and pulsed RF test.

CommAgility

As a leading 4G radio access network equipment, PHY and protocol stack provider with extensive experience in private network markets and specialized applications such as satellite communications and air to ground systems, CommAgility is actively developing platforms and engaging with customers for next generation solutions based on 5G new radio specifications. This experience and expertise, along with participation in research initiatives such as COHERENT, CommAgility is able to identify impactful needs in the areas of enhanced mobile broadband (eMBB), massive machine-type communication (mMTC) and ultra-reliable low-latency communications (URLLC) which will be key enablers for industrial automation, vehicular communication and public safety communications. CommAgility will showcase its modular hardware used for eNodeB and UE simulation and testing, radar and electronic warfare applications and private LTE networks.

Microlab

For over 20 years, Microlab has been a leading global provider of RF components for in-building wireless distributed antenna systems. Today, the world’s most demanding wireless carriers rely on Microlab components to ensure high quality mobile connectivity is available to their customers. As those carriers gear up for 5G deployments, Microlab has introduced a digital GPS repeater to ensure wireless networks are 5G ready, providing network time and phase synchronization below 100 ns accuracy which is critical for low latency requirements of 5G networks. This new product line will be on display along with the extensive portfolio of ultra-wideband products it complements, from 600MHz to 6GHz to support multi-band carrier aggregation, LTE License Assisted Access (LAA), and Citizens Broadband Radio Service (CBRS).

Noisecom

Noisecom has been developing noise sources across the microwave and millimeter spectrum for over three decades and this experience has resulted in reliable noise sources to ensure fast, economic development and deployment of 5G devices. Calibrated noise sources for noise power ratio and noise figure measurement in high bandwidth 5G and millimeter applications improve amplifier and system performance. The IMS display will feature broadband noise sources for over the air testing and chamber calibration, critical aspects of 5G device testing where conducted testing and physical connection to a device under test is impossible due to highly integrated components and high bandwidth signals.

For more information visit booth#932 where you can speak to one of the company’s engineers and receive a demo or visit our website at www.wtcom.com.

About Wireless Telecom Group

Wireless Telecom Group, Inc., comprised of Boonton Electronics, CommAgility, Microlab and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, semiconductor and medical industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, LTE PHY and stack software, power splitters and combiners, GPS repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe.

Wireless Telecom Group, Inc.’s website address is www.wtcom.com. Except for historical information, the matters discussed in this news release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2017.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180611005344/en/

Wireless Telecom Group Inc (NYSEMKT:WTT): Risks You Need To Consider Before Buying

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If you are looking to invest in Wireless Telecom Group Inc’s (AMEX:WTT), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. WTT is exposed to market-wide risk, which arises from investing in the stock market. This risk reflects changes in economic and political factors that affects all stocks, and is measured by its beta. Not every stock is exposed to the same level of market risk, and the broad market index represents a beta value of one. A stock with a beta greater than one is expected to exhibit higher volatility resulting from market-wide shocks compared to one with a beta below one.

Check out our latest analysis for Wireless Telecom Group

What is WTT’s market risk?

Wireless Telecom Group’s beta of 0.14 indicates that the stock value will be less variable compared to the whole stock market. The stock will exhibit muted movements in both the downside and upside, in response to changing economic conditions, whereas the general market may move by a lot more. WTT’s beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns.

How does WTT’s size and industry impact its risk?

WTT, with its market capitalisation of US$47.20M, is a small-cap stock, which generally have higher beta than similar companies of larger size. In addition to size, WTT also operates in the electronic industry, which has commonly demonstrated strong reactions to market-wide shocks. As a result, we should expect a high beta for the small-cap WTT but a low beta for the electronic industry. This is an interesting conclusion, since both WTT’s size and industry indicates the stock should have a higher beta than it currently has. A potential driver of this variance can be a fundamental factor, which we will take a look at next.

AMEX:WTT Income Statement Jun 6th 18

How WTT’s assets could affect its beta

During times of economic downturn, low demand may cause companies to readjust production of their goods and services. It is more difficult for companies to lower their cost, if the majority of these costs are generated by fixed assets. Therefore, this is a type of risk which is associated with higher beta. I examine WTT’s ratio of fixed assets to total assets to see whether the company is highly exposed to the risk of this type of constraint. Since WTT’s fixed assets are only 21.01% of its total assets, it doesn’t depend heavily on a high level of these rigid and costly assets to operate its business. Thus, we can expect WTT to be more stable in the face of market movements, relative to its peers of similar size but with a higher portion of fixed assets on their books. Similarly, WTT’s beta value conveys the same message.

What this means for you:

You could benefit from lower risk during times of economic decline by holding onto WTT. Its low fixed cost also means that, in terms of operating leverage, it is relatively flexible during times of economic downturns. In order to fully understand whether WTT is a good investment for you, we also need to consider important company-specific fundamentals such as Wireless Telecom Group’s financial health and performance track record. I highly recommend you to complete your research by taking a look at the following:

  1. Financial Health: Is WTT’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out our financial health checks here.
  2. Past Track Record: Has WTT been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look at the free visual representations of WTT’s historicals for more clarity.
  3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.


To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.

The author is an independent contributor and at the time of publication had no position in the stocks mentioned.

Is Wireless Telecom Group Inc’s (NYSEMKT:WTT) Balance Sheet Strong Enough To Weather A Storm?

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Investors are always looking for growth in small-cap stocks like Wireless Telecom Group Inc (AMEX:WTT), with a market cap of US$49.72M. However, an important fact which most ignore is: how financially healthy is the business? Electronic companies, in particular ones that run negative earnings, are more likely to be higher risk. Evaluating financial health as part of your investment thesis is essential. Here are few basic financial health checks you should consider before taking the plunge. Nevertheless, given that I have not delve into the company-specifics, I recommend you dig deeper yourself into WTT here.

Does WTT generate an acceptable amount of cash through operations?

In the previous 12 months, WTT’s rose by about US$1.83M comprising of short- and long-term debt. With this ramp up in debt, the current cash and short-term investment levels stands at US$2.46M for investing into the business. Additionally, WTT has produced cash from operations of US$1.40M during the same period of time, resulting in an operating cash to total debt ratio of 76.71%, meaning that WTT’s operating cash is sufficient to cover its debt. This ratio can also be a sign of operational efficiency for loss making businesses as traditional metrics such as return on asset (ROA) requires positive earnings. In WTT’s case, it is able to generate 0.77x cash from its debt capital.

Does WTT’s liquid assets cover its short-term commitments?

At the current liabilities level of US$8.97M liabilities, it seems that the business has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 2.54x. Generally, for Electronic companies, this is a reasonable ratio since there is a bit of a cash buffer without leaving too much capital in a low-return environment.

AMEX:WTT Historical Debt May 14th 18

Can WTT service its debt comfortably?

With debt at 9.60% of equity, WTT may be thought of as having low leverage. WTT is not taking on too much debt commitment, which may be constraining for future growth. WTT’s risk around capital structure is almost non-existent, and the company has the headroom and ability to raise debt should it need to in the future.

Next Steps:

WTT’s high cash coverage and low debt levels indicate its ability to utilise its borrowings efficiently in order to generate ample cash flow. In addition to this, the company exhibits proper management of current assets and upcoming liabilities. Keep in mind I haven’t considered other factors such as how WTT has been performing in the past. I suggest you continue to research Wireless Telecom Group to get a more holistic view of the stock by looking at:

  1. Valuation: What is WTT worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? The intrinsic value infographic in our free research report helps visualize whether WTT is currently mispriced by the market.
  2. Historical Performance: What has WTT’s returns been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.
  3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.


To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.

The author is an independent contributor and at the time of publication had no position in the stocks mentioned.

Wireless Telecom Group Announces First Quarter 2018 Financial Results

PARSIPPANY, N.J.--(BUSINESS WIRE)--

Wireless Telecom Group, Inc. (NYSE AMERICAN: WTT) (the “Company”) announced today results for the 2018 first quarter ended March 31, 2018.

For the quarter ended March 31, 2018, the Company reported consolidated net revenues of $13,264,000, compared to $9,549,000 for the same period in 2017, an increase of 38.9%. Net revenues in the Network Solutions segment were $5,511,000, compared to $5,515,000 for the same period in 2017. Net revenues in the Test & Measurement segment were $3,763,000, compared to $3,037,000 for the same period in 2017, an increase of 23.9%. Net revenues in the Embedded Solutions segment were $3,990,000, compared to $997,000 for the same period in 2017, an increase of 300.2%. The quarter ending March 31, 2018 included the CommAgility business in the Embedded Solutions segment for the full quarter while the year ago period included this business for the period of ownership from February 17, 2017 through March 31, 2017.

The Company also reported consolidated gross profit of $6,268,000, or 47.3% of revenue, for the quarter ended March 31, 2018, compared to $4,332,000 or 45.4% of revenue, for the same period in 2017.

Gross profit in the Network Solutions segment was $2,442,000, or 44.3%, for the quarter ended March 31, 2018, compared to $2,460,000, or 44.6%, for the same period in 2017. Gross profit in the Test & Measurement segment was $1,845,000, or 49.0%, for the quarter ended March 31, 2018, compared to $1,334,000, or 43.9%, for the same period in 2017. Gross profit in the Embedded Solutions segment was $1,981,000, or 49.6%, for the full quarter of ownership ended March 31, 2018, compared to $538,000, or 54.0%, for the period of ownership in the prior year February 17, 2017 to March 31, 2017.

For the quarter ended March 31, 2018, the Company reported consolidated operating expenses of $5,748,000, compared to $6,051,000 for the same period in 2017, a decrease of $303,000. Included in 2018 consolidated operating expenses are the operating expenses of CommAgility of $1,371,000 for the three months of ownership ended March 31, 2018. Included in 2017 consolidated operating expenses are the operating expenses of CommAgility of $767,000 for the period of ownership February 17, 2016 through March 31, 2017 and $1,272,000 of expenses incurred by the Company, primarily legal and other professional fees, related to the acquisition of CommAgility.

The net income for the quarter-ended March 31, 2018 was $374,000, compared to a net loss of $1,231,000 for the same period in 2017.

Non-GAAP Adjusted EBITDA for the quarter ended March 31, 2018 was $1,612,000, compared to $447,000 for the same period in 2017. The increase in non-GAAP Adjusted EBITDA from the prior year is attributable to the increase in revenue and gross profit.

The Company defines EBITDA as its net earnings before interest expense, provisions for taxes, depreciation expense and amortization expense. “Adjusted EBITDA” is EBITDA excluding our stock compensation expense, restructuring charges, acquisition expenses, integration expenses, foreign exchange gains and losses, and other non-recurring costs. A reconciliation of net income to non-GAAP Adjusted EBITDA is included as an attachment to this press release.

The Company’s consolidated backlog of firm orders to be shipped in the next twelve months was $10,576,000 at March 31, 2018, an increase over the December 31, 2017 backlog of $9,888,000 and the backlog of $6,750,000 at March 31, 2017.

Tim Whelan, CEO of Wireless Telecom Group, Inc., commented, “We are very pleased with our Q1 financial results which reflected top-line strength in each of our three segments and a continued improving profitability profile. Our bookings and backlog growth also reflects sustained strong customer demand across our solutions which are enabling the development, testing and deployment of wireless connectivity.” Whelan added, “We continued to accomplish new and improved product initiatives during the first quarter in our Test & Measurement and Embedded Solutions segments. We were also proud to announce our selection by Lockheed Martin for integrated software and hardware solutions for an innovative satellite communications project. We are actively engaged with our customers on project designs and deployment planning and, looking ahead, we expect to see continued growth momentum.”

The Company expects the following for the quarter ended June 30, 2018:

  • Revenue between $12,250,000 and $12,750,000
  • Gross margins between 45-46% of revenues
  • Non-GAAP operating expenses between $5.4 and $5.6 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, non-recurring acquisition and integration expenses, and foreign exchange gains and losses which cannot be itemized with particularity for reconciliation to the comparable GAAP measure at this time).

Conference Call

As previously announced, Wireless Telecom Group Inc. will host a conference call today at 8:30 a.m. ET in which management will discuss first quarter 2018 results. To participate in the conference call, dial 800-346-7359 or 973-528-0008. The conference identification number is 476934. The call will also be webcast over the internet at the following URL:

https://www.webcaster4.com/Webcast/Page/1690/25764

A replay will be made available on the Wireless Telecom website for a limited period of time following the conference call.

About Wireless Telecom Group, Inc.

Wireless Telecom Group, Inc., comprised of Boonton Electronics, CommAgility, Microlab and Noisecom, is a global designer and manufacturer of advanced radio frequency and microwave components, modules, systems and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, semiconductor and medical industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, LTE PHY and stack software, power splitters and combiners, GPS repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe. 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. Wireless Telecom Group’s website address is http://www.wirelesstelecomgroup.com.

Use of Non-GAAP Financial Measures

The Company reports its financial results in accordance with generally accepted accounting principles (“GAAP”). Management believes, however, that certain non‐GAAP financial measures used in managing the Company’s business may provide users of this financial information with additional meaningful comparisons between current results and prior reported results. Certain of the information set forth herein and certain of the information presented by the Company from time to time may constitute non‐GAAP financial measures within the meaning of Regulation G adopted by the Securities and Exchange Commission. We have presented herein a reconciliation of these measures to the most directly comparable GAAP financial measure. The non‐GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. The foregoing measures do not serve as a substitute and should not be construed as a substitute for GAAP performance, but provide supplemental information concerning our performance that our investors and we find useful.

The Company views Adjusted EBITDA as an important indicator of performance, consistent with the manner in which management measures and forecasts the Company’s performance. We believe Adjusted EBITDA is an important performance metric because it facilitates the analysis of our results, exclusive of certain non‐cash and non-recurring items, including items which do not directly correlate to our business operations.

The Company believes that Adjusted EBITDA metrics provide qualitative insight into our current performance; we use these measures to evaluate our results, the performance of our management team and our management’s entitlement to incentive compensation; and we believe that making this information available to investors enables them to view our performance the way that we view our performance and thereby gain a meaningful understanding of our core operating results, in general, and from period to period.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements regarding continued momentum delivering new and improved products and customer solutions, and expectations with respect to revenue, gross margins and non-GAAP operating expenses for the quarter ending June 30, 2018. Investors are cautioned that such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results, including, among others, the Company’s ability to continue the successful integration of CommAgility, product demand, development of competitive technologies in the Company’s market sector, the retention of key customers, fluctuations between the dollar and British pound, compliance with changing laws and regulations, as well as other risks and uncertainties set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. These forward-looking statements speak only as of the date of this release and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, as except as required by law.

     

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts, Unaudited)

 
For the Three Months
Ended March 31,

2018

   

2017

NET REVENUES $ 13,264 $ 9,549
 
COST OF REVENUES   6,996         5,216  
 
GROSS PROFIT 6,268 4,333
 
Operating Expenses
Research and Development 1,157 1,087
Sales and Marketing 1,910 1,552
General and Administrative   2,681         3,412  
Total Operating Expenses 5,748 6,051
 
Operating income/(loss) 520 (1,718 )
 
Other income/(expense) 2 (2 )
Interest Expense   (92 )       (49 )
 
Income/(loss) before taxes 430 (1,769 )
 
Tax Provision/(Benefit)   56         (538 )
           
Net Income/(Loss) $ 374       $ (1,231 )
 
Other Comprehensive Income/(Loss):
Foreign currency translation adjustments   579         (59 )
Comprehensive Income/(Loss) $ 953       $ (1,290 )
 
 
Net Income/(Loss) per common share:
Basic $ 0.02 $ (0.06 )
Diluted $ 0.02 $ (0.06 )
 
Weighted average shares outstanding:
Basic 20,644,409 20,386,678
Diluted 21,633,117 20,386,678
 
         

CONDENSED CONSOLIDATED BALANCE SHEET

(In thousands, except share amounts)

 
March 31 December 31
2018 2017
(Unaudited)
CURRENT ASSETS
Cash & cash equivalents $ 2,240 $ 2,458
Accounts receivable - net of reserves of $42 and $44, respectively 10,747 9,041
Inventories - net of reserves of $1,732 and $1,856, respectively 7,053 6,526
Prepaid expenses and other current assets   1,725         4,733  
TOTAL CURRENT ASSETS 21,765 22,758
 
PROPERTY PLANT AND EQUIPMENT – NET 2,639 2,730
 
OTHER ASSETS
Goodwill 10,598 10,260
Acquired Intangible Assets, net 4,391 4,511
Deferred income taxes 5,958 5,939
Other   772         723  
TOTAL OTHER ASSETS 21,719 21,433
           
TOTAL ASSETS $ 46,123       $ 46,921  
 
CURRENT LIABILITIES
Short term debt $ 2,747 $ 1,335
Accounts payable 3,922 4,109
Accrued expenses and other current liabilities 3,884 2,894
Deferred Revenue   808         629  
TOTAL CURRENT LIABILITIES 11,361 8,967
 
LONG TERM LIABILITIES
Long term debt 456 494
Other long term liabilities 100 1,590
Deferred Tax Liability   852         767  
TOTAL LONG TERM LIABILITIES 1,408 2,851
 
COMMITMENTS AND CONTINGENCIES
 
SHAREHOLDERS' EQUITY
Preferred stock, $.01 par value, 2,000,000 shares authorized, none issued - -
Common stock, $.01 par value, 75,000,000 shares authorized, 34,168,252
and 33,868,252 shares issued, 20,979,651 and 22,772,167 shares outstanding 342 339
Additional paid in capital 47,967 47,494
Retained earnings 7,971 7,176
Treasury stock at cost, - 13,188,601 and 11,096,085 shares, respectively (24,509 ) (20,910 )
Accumulated Other Comprehensive Income   1,583         1,004  
TOTAL SHAREHOLDERS' EQUITY 33,354 35,103
           
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 46,123       $ 46,921  
 
     

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(In thousands, Unaudited)

 
For the Three Months
Ended March 31

2018

   

2017

CASH FLOWS PROVIDED/(USED) BY OPERATING ACTIVITIES
Net Income/(loss) $ 374 $ (1,231 )

Adjustments to reconcile net income/(loss) to net cash (used) by
operating activities:

Depreciation and amortization 626 414
Amortization of debt issuance fees 19 9
Share-based compensation expense 188 301
Deferred rent 5 8
Deferred income taxes 37 (496 )
Provision for (recovery of) doubtful accounts (1 ) 1
Inventory reserves 19 100
Changes in assets and liabilities, net of acquisition:
Accounts receivable (1,574 ) (231 )
Inventories (524 ) (412 )
Prepaid expenses and other assets (507 ) 125
Accounts payable (255 ) 352
Accrued expenses and other liabilities   635     160  
Net cash (used) by operating activities   (958 )   (900 )
CASH FLOWS (USED) BY INVESTING ACTIVITIES
Capital expenditures (199 ) (192 )
Acquisition of business net of cash acquired   (811 )   (8,596 )
Net cash (used) by investing activities   (1,010 )   (8,788 )
 
CASH FLOWS PROVIDED/(USED) BY FINANCING ACTIVITIES
Revolver borrowings 10,603 3,399
Revolver repayments (9,191 ) (1,494 )
Term loan borrowings - 760
Term loan repayments (38 ) -
Debt issuance fees - (215 )
Proceeds from exercise of stock options   288     38  
Net cash provided/(used) by financing activities   1,662     2,488  
 
Effect of exchange rate changes on cash and cash equivalents 88 27
NET (DECREASE) IN CASH AND CASH EQUIVALENTS (218 ) (7,173 )
 
Cash and cash equivalents, at beginning of period   2,458     9,351  
 
CASH AND CASH EQUIVALENTS, AT END OF PERIOD $ 2,240   $ 2,178  
 
SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest $ 36 $ 5
Cash paid during the period for income taxes $ 9 $ -
 
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND
FINANCING ACTIVITIES:
Issuance of Common Shares as Consideration $ - $ 5,999
 
                         

NET REVENUE AND GROSS PROFIT BY SEGMENT

(In thousands, Unaudited)

 
Three months ended March 31
Revenue     % of Revenue     Change
2018     2017     2018     2017     Amount     Pct.
Network Solutions $ 5,511 $ 5,515 41.5 % 57.8 % $ (4 ) -0.1 %
Test and Measurement 3,763 3,037 28.4 % 31.8 % 726 23.9 %
Embedded Solutions   3,990       997     30.1 %     10.4 %       2,993       300.2 %
Total net revenues $ 13,264     $ 9,549     100.0 %     100.0 %     $ 3,715       38.9 %
 
 
 
Three months ended March 31
Gross Profit    

Gross Profit %

    Change
2018     2017     2018     2017     Amount     Pct.
Network Solutions $ 2,442 $ 2,461 44.3 % 44.6 % $ (19 ) -0.8 %
Test and Measurement 1,845 1,334 49.0 % 43.9 % 511 38.3 %
Embedded Solutions   1,981       538     49.6 %     54.0 %       1,443       268.2 %
Total gross profit $ 6,268     $ 4,333     47.3 %     45.4 %     $ 1,935       44.7 %
 
     

RECONCILIATION OF NET INCOME TO NON-GAAP EBITDA AND NON-GAAP ADJUSTED EBITDA

(In thousands, Unaudited)

 
Three Months Ended
March 31

2018

   

2017

 
GAAP Net Income $ 374 $ (1,231 )
Tax Provision/(Benefit) 56 (538 )
Depreciation and Amortization Expense 626 414
Interest Expense   92         49  
Non-GAAP EBITDA 1,148 (1,306 )
Stock Compensation Expense 188 301
ASC 606 Adjustment 188 -
Mergers and Acquisitions Expenses - 1,272
Integration Expenses 48 47
Inventory Recovery (8 ) -
FX (Gain)/Loss 48 -
US GAAP Purchase Accounting - 53
Restructuring Charges and Other Non-Recurring Costs   -         80  
Non-GAAP Adjusted EBITDA $ 1,612       $ 447  
 
     

RECONCILIATION OF TOTAL OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

(In thousands, Unaudited)

 
Three Months Ended
March 31,
2018     2017
Total Operating Expenses $ 5,748     $ 6,051
 
Depreciation and Amortization (465 ) (331 )
Stock Compensation Expense (188 ) (301 )
Mergers and Acquisition Expenses - (1,272 )
Integration Expenses (48 ) (47 )
Restructuring Expenses - (80 )
Foreign Exchange Losses (48 ) -
           
Total Non GAAP Operating Expenses $ 4,999       $ 4,020  
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20180509005213/en/

Wireless Telecom Group Announces First Quarter 2018 Financial Results Will Be Released May 9, 2018

PARSIPPANY, N.J.--(BUSINESS WIRE)--

Wireless Telecom Group, Inc. (NYSE American:WTT), a leader in wireless communications and radio frequency instrumentation, announced today it will release its first quarter 2018 financial results on Wednesday May 9th, 2018, before the market opens.

The Company will host a conference call on Wednesday May 9th, 2018 at 8:30 am EST in which management will discuss first quarter results. To participate in the conference call, dial 800-346-7359 or 973-528-0008. The conference identification number is 476934. The call will also be webcast over the internet at the following URL:

https://www.webcaster4.com/Webcast/Page/1690/25764

A replay will be made available on the Wireless Telecom website for a limited period of time following the conference call.

Wireless Telecom Group, Inc., comprised of Boonton Electronics, CommAgility, Microlab and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, semiconductor and medical industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, LTE PHY and stack software, power splitters and combiners, GPS repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe. 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. Wireless Telecom Group’s website address is http://www.wtcom.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180502006823/en/

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