PCTEL Reports 2019 Financial Results
Friday, March 06, 2020 | Comments

PCTEL announced its results for the fourth quarter ended Dec. 31. The company reported revenue of $22.9 million in the quarter and $90.6 million for the year, 8% higher in the quarter and 9% higher for the year compared with 2018.

For the fourth quarter, revenue was higher by 55% for the test and measurement product line and lower by 7% for the antenna product line compared to 2018. For the year, revenue was higher by 68% for the test and measurement product line and lower by 5% for the antenna product line.

Gross profit margin was 50.3% in the quarter and 45.8% for the year, up 9.4% in the quarter and 8.3% for the year compared to the gross profit margin in 2018. The increase in the both the fourth quarter and the year is a result of higher revenues for test and measurement products and a favorable mix within antenna products.

At year-end the company had $39.7 million of cash and short-term investments and no debt compared with $35.2 million and no debt at Dec. 31, 2018.

“We are pleased with our performance in 2019 and year-over-year growth driven mainly by the success of our 5G testing solutions,” said David Neumann, PCTEL’s CEO. “Antennas and radio solutions in our intelligent transportation and industrial IoT (internet of things) market segments are expected to drive growth over the long term as customers demand ultra-reliable connectivity for their IoT business-critical systems.”

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