PCTEL Announces Fourth-Quarter Financial Results
Friday, March 15, 2019 | Comments

PCTEL announced its results for the fourth quarter ended Dec. 31. The company had revenue of $21.2 million in the quarter and $83 million for the year, 9 percent lower in the quarter and 9 percent lower for the year compared to the prior year.

Revenue was lower in both the antenna and test and measurement product lines in the quarter and for the year compared to the prior year. Gross profit margin was 40.9 percent in the quarter and 37.5 percent for the year, down 3.1 percent in the quarter and 4.9 percent for the year compared to the prior year. The decrease in the quarter was because of lower test and measurement product revenue, which has higher gross margin compared with antenna products. The decrease for the year was because of both the lower test and measurement product revenue and price erosion in the small cell antenna market.

The company had $35.2 million of cash and short-term investments at Dec. 31 and no debt.

“Our combined sales force with a dedicated business development team is having a real impact in public safety, industrial IoT (internet of things) and 5G targeted markets,” said David Neumann, PCTEL’s CEO. “It is encouraging to see all the major U.S. operators, along with leading operators in Europe and Asia, deploying 5G networks. This drives test and measurement sales for deployments today and will drive growth in our small cell, transit and industrial IoT solutions over the long term. After a challenging year, we are pleased to see sequential growth in revenue and earnings in the fourth quarter.”

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