PCTEL Reports Financial Results
Thursday, May 10, 2018 | Comments

PCTEL announced its results for the first quarter ended March 31. Revenue of $21.7 million in the quarter, in line with guidance, was down 5 percent from the first quarter last year.

Gross profit margin of 36.2 percent in the quarter was down 500 basis points compared with last year. The primary reason for the decrease was lower revenue in the RF Solutions segment, which has higher margin from its scanner products compared with antenna products. Price erosion in the small cell antenna market also contributed to the decline.

The company had $34.7 million of cash and short-term investments and no debt at March 31.

“The company saw revenue growth for its connected solutions products in the enterprise Wi-Fi market during the quarter,” said David Neumann, PCTEL’s CEO. “RF Solutions revenue was down in the North American market, due to the slow release of capital budget by several U.S. carriers. PCTEL is well positioned to take advantage of the long-term growth opportunities in industrial IoT (internet of things) and 5G, which require both performance critical antenna solutions across multiple vertical markets and RF test equipment.”

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