PCTEL Releases Financial Results for Second Quarter
Friday, August 09, 2019 | Comments

PCTEL announced its results for the second quarter ended June 30. The company had revenue of $23.5 million in the quarter, 9% higher compared with the prior year. The second quarter revenue was higher by 82% for the test and measurement product line and lower by 8% for the antenna product line compared with the second quarter 2018.

Gross profit margin was 45.5% in the quarter, up 9.4% compared with gross profit margin in the prior year. The increase in the second quarter is a result of higher revenues for test and measurement products and improved profitability for antenna products.

PCTEL had $36.8 million of cash and short-term investments at June 30 and no debt. The company will incur restructuring expense in the second half of fiscal year 2019 related to the transition plan for Chinese manufacturing.

“We are pleased with the sequential revenue and gross margin growth driven by 5G scanning receiver demand and significant industrial IoT (internet of things) antenna project wins and facilitated by the cost reduction and realignment actions we took over the past year,” said David Neumann, PCTEL’s CEO. “We are in the early stages of 5G and the deployment of industrial IoT systems. PCTEL has the capabilities and resources to grow with these markets and increase value for all stakeholders.”

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