Wireless Telecom Group, Inc. (WTT)

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

Boonton Electronics and Noisecom Receive ISO 17025:2017 Accreditation

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

Wireless Telecom Group (NYSE American:WTT) is pleased to announce that the Boonton Electronics and Noisecom calibration laboratories have achieved ISO 17025:2017 accreditation, an internationally recognized quality standard for calibration and testing laboratories. In order to achieve this accreditation the company had to demonstrate the highest levels of technical competence, quality, and data precision.

“ISO 17025 accreditation is the single most important standard for calibration and testing laboratories around the world. Achieving ISO 17025 Calibration Laboratory Accreditation demonstrates our commitment and responsiveness to the increased demands of our customers. The accreditation independently affirms that Boonton Electronics and Noisecom demonstrate the technical proficiency and ability for the highest quality calibration results for our high performance RF test instrumentation,” said George Cutler, Director of Global Quality Assurance. “Our commitment to implement and maintain this accreditation guarantees the highest levels of quality for new instrumentation, as well as the service assurances required for our long-term customer relationships.”

Wireless Telecom Group continues to invest the resources necessary into the processes and procedures that will deliver consistent, high-quality products. In addition to achieving ISO 17025 accreditation, Wireless Telecom Group recently completed its annual ISO 9001:2015 certification audit, reaffirming the Company’s commitment to peak performance and customer responsiveness ensuring the highest levels of customer satisfaction.

For more information visit, www.wirelesstelecomgroup.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/20180925005143/en/

Microlab Launches New Modular Point-of-Interface RF Conditioning Solution (POI) which Provides Flexibility and Future Proofing for Small Cell and D-RAN Deployments

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

Microlab, a Wireless Telecom Group Company (NYSE American:WTT), today introduced the MCC™ Series Modular Carrier Conditioner, a modular point of interface solution for small cell and D-RAN deployments. Designed to fit any operator or neutral host provider, the MCC series offers a modular solution that can accommodate any wireless communication band up to 6 GHz. This innovative, one-size fits all system is a future-proof solution enabling easy upgrades and reconfigurations as capacity and bandwidth requirements evolve over time.

“We recognized that site deployments can be time consuming, and system upgrades can be challenging and costly,” said Luke Getto, Director of Product Management. “New spectrum is being deployed on a regular basis as countries around the world prepare for ultra-dense 5G networks. These bands can vary greatly between carriers and between locations. Adding new bands or carriers to existing sites can require replacing initially installed equipment with brand new parts, which is time consuming and wasteful. We developed the MCC for an easier upgrade path and an improved ROI for our customers.”

An MCC Series solution consists of multiple slide-in cards for multi-port filters and hybrid couplers which gives flexibility to the owners and installers as carrier additions or new bands are required. The filters support common LTE wireless bands. MCC Series hybrid couplers are available in standard bandwidths from 600 to 2700 MHz. Extended bandwidth cards are also available to cover up to 3800 MHz for CBRS and Band 43, and ultra-wide bandwidth products cover up to 6 GHz for LTE-LAA. Each slide-in card is capable of handling up to 40W per input and is passively cooled. Since deployment requirements and environmental conditions can vary, the MCC series offers both indoor and outdoor versions.

Microlab product specialists will be attending the Mobile World Congress Americas event September 12th - 14th and will be available to speak in further detail about the new product offerings.

For more information visit, www.microlabtech.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/20180910005127/en/

Wireless Telecom Group Announces Second Quarter 2018 Financial Results

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

Highlights of the quarter:

  • Net revenues of $13,414,000 for the quarter ended June 30, 2018
    • A year over year increase of $1,481,000, or 12%
  • Gross Profit of $6,170,000, or 46% of revenue, for the quarter ended June 30, 2018
    • A year over year increase of $2,826,000, or 85% (2017 gross profit includes $1,930,000 impairment charge)
  • Net loss of $180,000 for the quarter ended June 30, 2018
    • Compared to a net loss of $1,370,000 for the same period last year
  • Non-GAAP Adjusted EBITDA of $1,076,000 for the quarter ended June 30, 2018
    • A year over year increase of $169,000, or 19%
  • New customer orders of $11,871,000 for the quarter ended June 30, 2018
    • Compared to new customer orders of $12,110,000 for the same period last year
  • June 30, 2018 order backlog of $8,801,000
    • A year over year increase of $1,831,000

Wireless Telecom Group, Inc. (NYSE AMERICAN: WTT) (the “Company”) announced today results for the second quarter ended June 30, 2018.

For the quarter ended June 30, 2018, the Company reported consolidated net revenues of $13,414,000, compared to $11,933,000 for the same period in 2017, an increase of 12%. Net revenues in the Network Solutions segment were $5,636,000, compared to $5,617,000 for the same period in 2017, an increase of .3%. Net revenues in the Test & Measurement segment were $3,534,000, compared to $3,316,000 for the same period in 2017, an increase of 6.6%. Net revenues in the Embedded Solutions segment were $4,244,000, compared to $3,000,000 for the same period in 2017, an increase of 41.5%.

The Company also reported consolidated gross profit of $6,170,000, or 46% of revenue, for the quarter ended June 30, 2018, compared to $3,344,000, or 28% of revenue, for the same period in 2017. The 2017 second quarter gross profit was adversely affected by a non-cash inventory impairment charge of $1,930,000.

For the quarter ended June 30, 2018, gross profit in the Network Solutions segment was $2,468,000, or 43.8%, compared to $1,182,000, or 21%, for the same period in 2017. Network Solutions gross profit in the 2017 quarter was adversely affected by approximately $1.2 million of an inventory impairment charge. Gross profit in the Test & Measurement segment was $1,815,000, or 51.4%, for the quarter ended June 30, 2018, compared to $832,000, or 25.1%, for the same period in 2017. Test & Measurement gross profit in the 2017 quarter was adversely affected by approximately $725,000 of an inventory impairment charge. Gross profit in the Embedded Solutions segment was $1,887,000, or 44.5% for the quarter ended June 30, 2018, compared to $1,330,000, or 44.3%, for the same period in 2017.

For the quarter ended June 30, 2018, the Company reported consolidated operating expenses of $6,137,000, compared to $5,614,000 for the same period in 2017, an increase of $523,000. Non GAAP operating expenses were $5,265,000 for the three months ended June 30, 2018 compared to $4,467,000 for the year ago period.

The Company reported a net loss of $180,000 for the quarter ended June 30, 2018, compared to a net loss of $1,370,000 for the same period in 2017.

Non-GAAP Adjusted EBITDA for the quarter ended June 30, 2018 was $1,076,000, compared to non-GAAP Adjusted EBITDA of $907,000 for the same period in 2017.

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, the one-time non-cash inventory impairment charges, unrealized and realized 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 reported cash flow provided by operations of $196,000 for the six months ending June 30, 2018 compared to cash provided by operations of $489,000 for the same period in 2017. Cash flow from operations for the six months ended June 30, 2018 was impacted by higher working capital which reflects the improved funnel and backlog and the mix of sales to our larger customers with longer payment terms.

The Company reported customer orders of $11,871,000 during the quarter ending June 30, 2018, compared to $12,110,000 of customer orders for the same period in 2017. The consolidated backlog of firm orders to be shipped in the next twelve months was approximately $8,801,000 at June 30, 2018, a year over year increase of $1,831,000 over the backlog of $6,970,000 at June 30, 2017.

Tim Whelan, CEO of Wireless Telecom Group, Inc., commented, “We are very pleased with a stronger than expected quarter of results and we are especially pleased with the organic growth realized in our Test & Measurement and Embedded Solutions segment. We believe these results reflect the investments we have made in our channels, our products and in the acquisition of CommAgility.”

Whelan continued, “We are continuing to improve our operational and financial performance through top line growth, lean manufacturing and supply chain improvements. We continue to invest in our R&D roadmaps and we are excited by our products for 5G and millimeter wave development which we recently showcased. We are adding value to our customers in their continued investments in long-term network densification, 4G and 5G testing applications, government and military radar applications, and LTE network deployments. Our most recent product announcement is focused on new products for in-building public safety networks, an area of investment with new requirements from local governments and investments related to FirstNet deployments. We expect to see continued strong customer bookings and financial results in the third quarter.”

The Company expects the following in the quarter ended September 30, 2018 for the three combined segments:

  • Revenue between $13,000,000 and $13,500,000
  • Gross margins between 45% and 46%
  • Non-GAAP operating expenses between $5.4 and $5.5 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 for reconciliation to the comparable future 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 second quarter 2018 results and related matters. To participate in the conference call, dial 800-346-7359 or 973-528-0008. The conference identification number is 740345. The call will also be webcast over the internet at the following URL:

https://www.webcaster4.com/Webcast/Page/1690/26930

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

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 constitutes 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 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. In some cases, such forward-looking statements may be identified by terms such as believe, expect, seek, may, will, intend, project, anticipate, plan, estimate, guidance or similar words. Forward-looking statements include, among others, statements regarding revenue, gross margins, non-GAAP operating expenses and customer bookings for the quarter ending September 30, 2018 and free cash flow and debt reduction in the second half of the year. 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, including, among others, the Company’s ability to successfully integrate acquired businesses, the ability of management to successfully implement the Company’s business plan and strategy, product demand and development of competitive technologies in the Company’s market sector, the impact of competitive products and pricing, the loss of any significant customers of the Company, and 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.

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 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.

         

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)

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

 
Three Months Ended June 30 Six Months Ended June 30

2018

   

2017

2018

   

2017

NET REVENUES $ 13,414 $ 11,933 $ 26,678 $ 21,482
 
COST OF REVENUES   7,244         8,589     14,239         13,805  
 
GROSS PROFIT 6,170 3,344 12,439 7,677
 
Operating Expenses
Research and Development 1,313 1,130 2,469 2,217
Sales and Marketing 1,933 1,663 3,844 3,215
General and Administrative 2,678 2,821 5,311 6,233
Loss on change in fair value
of contingent consideration
  213         -     213         -  
Total Operating Expenses 6,137 5,614 11,837 11,665
 
Operating income/(loss) 33 (2,270 ) 602 (3,988 )
 
Other income/(expense) 33 (2 ) (13 ) (3 )
Interest Expense   (141 )       (110 )   (234 )       (159 )
 
(Loss)/Income before taxes (75 ) (2,382 ) 355 (4,150 )
 
Tax Provision/(Benefit)   105         (1,012 )   161         (1,551 )
               
Net (Loss)/Income $ (180 )     $ (1,370 ) $ 194       $ (2,599 )
 
Other Comprehensive (Loss)/Income:
Foreign currency translation adjustments   (963 )       635     (383 )       576  
Comprehensive (Loss) $ (1,143 )     $ (735 ) $ (189 )     $ (2,023 )
 
 
Net (Loss)/Income per common share:
Basic $ (0.01 ) $ (0.07 ) $ 0.01 $ (0.13 )
Diluted $ (0.01 ) $ (0.07 ) $ 0.01 $ (0.13 )
 
Weighted average shares outstanding:
Basic 20,864,428 19,765,101 20,755,027 19,577,271
Diluted 20,864,428 19,765,101 21,510,539 19,577,271
 
         

WIRELESS TELECOM GROUP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and par value amounts)

 
June 30 December 31
2018 2017
(Unaudited)
CURRENT ASSETS
Cash & cash equivalents $ 2,635 $ 2,458
Accounts receivable - net of reserves of $66 and $44, respectively 10,979 9,041
Inventories - net of reserves of $1,661 and $1,856, respectively 7,565 6,526
Prepaid expenses and other current assets   1,358         4,733  
TOTAL CURRENT ASSETS 22,537 22,758
 
PROPERTY PLANT AND EQUIPMENT - NET 2,760 2,730
 
OTHER ASSETS
Goodwill 10,066 10,260
Acquired Intangible Assets, net 3,864 4,511
Deferred income taxes 6,146 5,939
Other   647         723  
TOTAL OTHER ASSETS 20,723 21,433
       
TOTAL ASSETS $ 46,020       $ 46,921  
 
CURRENT LIABILITIES
Short term debt $ 2,583 $ 1,335
Accounts payable 4,007 4,109
Accrued expenses and other current liabilities 5,133 2,894
Deferred Revenue   376         629  
TOTAL CURRENT LIABILITIES 12,099 8,967
 
LONG TERM LIABILITIES
Long term debt 418 494
Other long term liabilities 98 1,590
Deferred Tax Liability   1,033         767  
TOTAL LONG TERM LIABILITIES 1,549 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 48,127 47,494
Retained earnings 7,791 7,176
Treasury stock at cost, 13,188,601 and 11,096,085 shares, respectively (24,509 ) (20,910 )
Accumulated Other Comprehensive Income   621         1,004  
TOTAL SHAREHOLDERS' EQUITY 32,372 35,103
       
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 46,020       $ 46,921  
 
     

WIRELESS TELECOM GROUP, INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(In thousands, Unaudited)

 
For the Six Months
Ended June 30

2018

   

2017

CASH FLOWS PROVIDED BY OPERATING ACTIVITIES
Net Income/(Loss) $ 194 $ (2,599 )
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation and amortization 1,237 1,059
Amortization of debt issuance fees 39 29
Share-based compensation expense 348 284
Deferred rent 7 13
Deferred income taxes 88 (1,492 )
Provision for (recovery of) doubtful accounts 22 (4 )
Inventory reserves 45 1,278
Changes in assets and liabilities, net of acquisition:
Accounts receivable (2,090 ) 658
Inventories (1,101 ) 1,005
Prepaid expenses and other assets (154 ) 84
Accounts payable (50 ) (771 )
Accrued expenses and other liabilities   1,611         945  
Net cash provided by operating activities   196         489  
CASH FLOWS (USED) BY INVESTING ACTIVITIES
Capital expenditures (583 ) (318 )
Proceeds from asset disposal - 7
Acquisition of business net of cash acquired   (811 )       (8,842 )
Net cash (used) by investing activities   (1,394 )       (9,153 )
 
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES
Revolver borrowings 19,721 15,794
Revolver repayments (18,473 ) (14,272 )
Term loan borrowings - 760
Term loan repayments (76 ) (38 )
Debt issuance fees - (215 )
Proceeds from exercise of stock options   288         38  
Net cash provided by financing activities   1,460         2,067  
Effect of exchange rate changes on cash and cash equivalents (85 ) 61
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 177 (6,536 )
 
Cash and cash equivalents, at beginning of period   2,458         9,351  
 
CASH AND CASH EQUIVALENTS, AT END OF PERIOD $ 2,635       $ 2,815  
 
SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest $ 78 $ 73
Cash paid during the period for income taxes $ 24 $ 34
 
     

WIRELESS TELECOM GROUP, INC.

NET REVENUES AND GROSS PROFIT BY SEGMENT

(In thousands, Unaudited)

 
Three months ended June 30
Revenue     % of Revenue     Change
2018     2017     2018     2017     Amount     Pct.
Network solutions $ 5,636     $ 5,617     42.0 %     47.1 %     $ 19     0.3 %
Test and measurement 3,534 3,316 26.4 % 27.8 % 218 6.6 %
Embedded solutions   4,244       3,000     31.6 %     25.1 %       1,244     41.5 %
Total net revenues $ 13,414     $ 11,933     100.0 %     100.0 %     $ 1,481     12.4 %
 
Three months ended June 30
Gross Profit     Gross Profit %     Change
2018     2017     2018     2017     Amount     Pct.
Network solutions $ 2,468 $ 1,182 43.8 % 21.0 % $ 1,286 108.8 %
Test and measurement 1,815 832 51.4 % 25.1 % 983 118.1 %
Embedded solutions   1,887       1,330     44.5 %     44.3 %       557     41.9 %
Total gross profit $ 6,170     $ 3,344     46.0 %     28.0 %     $ 2,826     84.5 %
 
 
 
Six months ended June 30
Revenue     % of Revenue     Change
2018     2017     2018     2017     Amount     Pct.
Network solutions $ 11,147 $ 11,133 41.8 % 51.8 % $ 14 0.1 %
Test and measurement 7,297 6,352 27.3 % 29.6 % 945 14.9 %
Embedded solutions   8,234       3,997     30.9 %     18.6 %       4,237     106.0 %
Total net revenues $ 26,678     $ 21,482     100.0 %     100.0 %     $ 5,196     24.2 %
 
Six months ended June 30
Gross Profit     Gross Profit %     Change
2018     2017     2018     2017     Amount     Pct.
Network solutions $ 4,911 $ 3,643 44.1 % 32.7 % $ 1,268 34.8 %
Test and measurement 3,660 2,166 50.2 % 34.1 % 1,494 69.0 %
Embedded solutions   3,868       1,868     47.0 %     46.7 %       2,000     107.1 %
Total gross profit $ 12,439     $ 7,677     46.6 %     35.7 %     $ 4,762     62.0 %
 
 

WIRELESS TELECOM GROUP, INC.

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

(In thousands, Unaudited)

 
      Three Months Ended June 30     Six Months Ended June 30

2018

   

2017

2018

   

2017

 
GAAP Net Income $ (180 ) $ (1,370 ) $ 194 $ (2,599 )
Tax Provision/(Benefit) 105 (1,012 ) 161 (1,551 )
Depreciation And Amortization Expense 610 645 1,237 1,059
Interest Expense   141         110     234         159  
Non-GAAP EBITDA 676 (1,627 ) 1,826 (2,932 )
Stock Compensation Expense 161 (18 ) 348 284
ASC 606 Adjustment - - 188 -
Mergers and Acquisitions Expenses 64 17 64 1,290
Integration Expenses 11 117 60 164
Inventory Impairment - 1,930 - 1,930
Inventory Recovery (6 ) - (14 ) -
FX (Gain)/Loss (43 ) - 4 -
US GAAP Purchase Accounting 213 18 213 71
Restructuring Charges and other
non-recurring costs
  -         470     -         550  
Non-GAAP Adjusted EBITDA $ 1,076       $ 907   $ 2,689       $ 1,357  
 
         

WIRELESS TELECOM GROUP, INC.

RECONCILIATION OF TOTAL OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

(In thousands, Unaudited)

 
Three Months Ended June 30 Six Months Ended June 30

2018

   

2017

2018

   

2017

Total Operating Expenses $ 6,137 $ 5,614 $ 11,837 $ 11,665
 
M&A/Integration (75 ) (135 ) (124 ) (1,454 )
Restructuring - (470 ) - (550 )
Stock Comp (161 ) 18 (348 ) (284 )
Depreciation and amort. (ex. COGS) (424 ) (559 ) (888 ) (889 )
Contingent Consideration         (213 )       -         (213 )       -  
Non GAAP Operating Expenses       $ 5,265       $ 4,467       $ 10,264       $ 8,488  
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20180809005067/en/

Wireless Telecom Group, Inc. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / August 9, 2018 / Wireless Telecom Group, Inc. (NYSE MKT: WTT) will be discussing their earnings results in their Q2 Earnings Call to be held on August 9, 2018 at 8:30 AM Eastern Time.

To listen to the event live or access a replay of the call - visit https://www.investornetwork.com/company/C-5DFC748A765C5.

To receive updates for this company you can register by emailing [email protected] or by clicking get investment info from the company's profile.

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Wireless Telecom Group Announces Second Quarter 2018 Financial Results Will Be Released August 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 second quarter 2018 financial results on Thursday August 9th, 2018, before the market opens.

The Company will host a conference call on Thursday August 9th, 2018 at 8:30 am EDT in which management will discuss second quarter results. To participate in the conference call, dial 800-346-7359 or 973-528-0008. The conference identification number is 740345. The call will also be webcast over the internet at the following URL:

https://www.webcaster4.com/Webcast/Page/1690/26930

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/20180802005518/en/

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