Westell Technologies Releases Fiscal Quarterly, Full-Year Results
Thursday, May 24, 2018 | Comments

Westell Technologies announced results for its fiscal 2018 fourth quarter and fiscal year (FY) ended March 31.

“Fiscal 2018 was a significant turnaround year for Westell,” said Kirk Brannock, Westell’s chairman of the board of directors. “Gross margin expanded to 43 percent from 37.7 percent, net income improved by $15.9 million, and we generated positive operating cash flow of $6.9 million. While 4Q revenue was impacted by in-building wireless carrier spending shifts, on a FY 2018 year-over-year basis, sales of new public-safety products grew significantly, revenue from our remote units for intelligent site management increased by a double-digit percentage, and we grew sales of integrated cabinets and power distribution products.”

On a full year-over-year basis, the in-building wireless revenue decrease was primarily because of lower sales of commercial repeaters and distributed antenna systems (DAS) conditioners, partly offset by increased sales of public-safety repeaters and passive system components. For both comparative periods, gross margin increase was primarily because of lower costs.

“Westell began FY 2019 strong with its largest beginning-of-year backlog in three years,” said Stephen John, Westell’s president and CEO. “We are approaching the testing phase of an expanded suite of new products for the growing public-safety market that we expect to introduce soon, and we continue to refresh the existing product portfolio to address the needs of the emerging network densification architecture and eventual 5G rollouts.

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