PCTEL Announces Financial Results
Friday, March 16, 2018 | Comments

PCTEL announced its results for the fourth quarter and the full year ended Dec. 31. The company had revenue of $23.3 million in the quarter and $91.4 million for the year, down 1 percent in the quarter and up 8 percent for the year compared with last year.

Connected solutions revenue was down 9 percent in the quarter and up 4 percent for the year. RF solutions was up 25 percent in the quarter and up 19 percent for the year. Gross profit margin was 44 percent in the quarter and 42.4 percent for the year, up 265 basis points in the quarter and up 200 basis points for the year compared with last year.

The company had $38.1 million of cash and short-term investments and no debt at the end of 2017. The company generated free cash flow (cash flow from operations less capital spending) from continuing operations of about $2.1 million in the quarter and $7.1 million for the year.

“We are pleased to see revenue growth in both segments. Fleet and utilities markets continue to lead the growth in antennas, and we closed several large scanning receiver deals through our OEM partners in the quarter,” said David Neumann, PCTEL’s CEO. “PCTEL is well positioned to take advantage of the long-term growth opportunities in industrial IoT and 5G, which require both performance critical antenna solutions across multiple vertical markets and RF test equipment.”

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