Westell Technologies Reports Financials for Fiscal Quarter
Thursday, February 08, 2018 | Comments

Westell Technologies announced results for its fiscal 2018 third quarter ended Dec. 31.

Revenue was $13.7 million and comprised $5.2 million from the In-Building Wireless (IBW) segment, a strong $5.8 million performance from the Intelligent Site Management and Services (ISMS) segment, and a seasonally low $2.7 million from the Communication Network Solutions (CNS) segment. Cash and short-term investments increased to $26 million at Dec. 31, up from $24.2 million at Sept. 30, 2017.

“Westell continued to generate positive operating profit margin and net income, and increase cash, even with the revenue seasonality that typifies our December quarters,” said Kirk Brannock, Westell’s president and CEO. “These positive results demonstrate the tremendous operating leverage we have in the business.

“Along with our healthy cost structure, we are encouraged by the revenue growth opportunities we have in the IBW public-safety market, which grew sequentially this quarter, and in emerging wireless network densification applications like centralized radio access networks (CRAN). At the same time, we continue to evaluate new growth opportunities to increase shareholder value.”

IBW’s sequential revenue decrease was driven by lower sales of the company’s Universal DAS Interface Tray (UDIT) and passive system components, both of which achieved record quarterly revenue levels last quarter. IBW’s segment gross margin increase was driven primarily by lower costs.

CNS product lines are used primarily in the outdoor communications network. As a result, the December quarter tends to be its lowest performing quarter. In the third fiscal quarter of 2018, CNS’s sequential revenue decrease was most affected by lower sales of integrated cabinets and tower-mounted amplifiers. CNS’s gross margin decrease was primarily due to the lower revenue.

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