Westell Technologies Announces Quarterly Results
Thursday, February 07, 2019 | Comments

Westell Technologies announced results for its fiscal 2019 third quarter ended Dec. 31. Revenue was $10.7 million and comprised $2.8 million from the in-building wireless (IBW) segment, $5.1 million from the intelligent site management (ISM) segment and $2.8 million from the communication network solutions (CNS) segment.

“As anticipated, ISM segment revenue rebounded in the third quarter, nearly doubling compared to the second quarter, driving an overall sequential quarterly revenue increase,” said Stephen John, president and CEO. “Our IBW segment was affected by lower sales of DAS (distributed antenna system) conditioners. … We also maintained our consolidated gross margin target of 40 percent or greater. Going forward, to meet our growth objectives and drive increased shareholder value, we expect to continue expanding our portfolio of fiber access solutions, co-developing an OnGo small cell targeted to the private LTE (Long Term Evolution) market, and aggressively pursuing inorganic initiatives across all three segments.”

Cash was $27.1 million at year-end 2018 compared with $28.5 million at Sept. 30 due primarily to increased working capital and share repurchases.

IBW’s segment sequential quarterly revenue decrease was because of lower sales of DAS conditioners and passive system components, partly offset by slight revenue increases for commercial repeaters and public-safety products. IBW’s segment gross margin decrease was due primarily to the lower overall revenue.

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