PCTEL Releases Financial Results for First Quarter
Wednesday, May 08, 2019 | Comments

PCTEL announced its results for the first quarter ended March 31. Revenue was $20.6 million in the quarter, 5% lower than the prior year. Compared to the first quarter 2018, first quarter revenue was higher by 38% for the test and measurement product line and lower by 15% for the antenna product line.

Gross profit margin was 42% in the quarter, up 5.8% from the prior year. The increase in the quarter is a result of improved profitability for scanning receivers and antennas.

The company had $35 million of cash and short-term investments on March 31 and no debt.

“We are pleased that early demand for 5G test and measurement tools continues to drive revenue growth and profitability for scanning receivers,” said David Neumann, PCTEL’s CEO. “We expect this to continue as wireless operators deploy 5G networks in the U.S., Europe and Asia. In addition, 5G and enterprise Wi-Fi networks require engineered antenna and radio systems to enable industrial IoT (internet of things) for both public and private applications. We are positioned well to provide our antenna solutions for these applications in enterprise wireless, intelligent transportation and industrial IoT markets.”

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