Welcome to our dedicated page for Wireless Telecom Group news (Ticker: WTT), a resource for investors and traders seeking the latest updates and insights on Wireless Telecom Group stock.
Wireless Telecom Group, Inc. (WTT) is a leading global designer and manufacturer of advanced RF and microwave components, modules, systems, and instruments. The company, comprising Boonton Electronics, CommAgility, Microlab, and Noisecom, serves a wide array of industries including wireless, telecommunication, satellite, military, aerospace, semiconductor, and medical.
Wireless Telecom Group's products enable innovation across traditional and emerging wireless technologies. Their high-performance offerings include peak power meters, signal analyzers, signal processing modules, LTE PHY and stack software, power splitters and combiners, GPS repeaters, public safety monitors, noise sources, and programmable noise generators.
With a strong focus on supporting the development, testing, and deployment of wireless technologies, Wireless Telecom Group has made significant strides in recent years. They have expanded their product lines and enhanced their technological capabilities to meet the evolving needs of their diverse customer base.
Financially, the company has maintained a stable condition, demonstrating resilience and adaptability in a competitive market. Strategic partnerships and collaborations have bolstered their market presence, positioning them as a trusted partner in the industries they serve.
For more information or to contact Wireless Telecom Group, Inc., visit their website or reach out via the provided contact details:
- Michael Kandell, Investor Contact, 25 Eastmans Road, Parsippany, NJ 07054, Tel: (973) 386-9696, Fax: (973) 386-9191
- Maria Droge, Marketing Contact, Tel: (973) 386-9696
E-Space has entered into a definitive agreement to acquire CommAgility from Wireless Telecom Group (NYSE: WTT). This acquisition will provide E-Space with a robust 5G source code and a skilled in-house development team. CommAgility, which specializes in embedded signal processing for telecommunications, complements E-Space's vision by enhancing its capabilities in 5G NTN (Non-Terrestrial Networks) and future technologies like 5G-Advanced and 6G. The deal is expected to close by January 31, 2023, adding 50 employees from CommAgility to E-Space's team.
Wireless Telecom Group, Inc. (WTT) reported Q3 2022 net revenues of $5.3 million, down 27.7% year-over-year, primarily due to a $1.9 million decrease in the Test & Measurement segment. Gross profit fell to $2.7 million with a margin of 49.9%, down from 54.8%. The company faced a GAAP operating loss of $2.6 million compared to $2.1 million last year, and net loss from continuing operations was $2.3 million, up from $1.2 million. However, new contracts reached $13 million, doubling the backlog to $12.8 million.
Wireless Telecom Group (NYSE American: WTT) announced it will release its financial results for the three and nine months ended September 30, 2022, on November 14, 2022, after the market closes. A conference call will follow at 4:30 pm EST, where management will discuss the results. Participants can join by dialing 800-346-7359 or 973-528-0008, with the conference identification number 542659. The call will also be available via webcast. A replay will be accessible on the company's website post-call.
Wireless Telecom Group (NYSE American: WTT) has launched an intra-PHY handover capability for its 5G systems under the CommAgility brand. This industry-first technology allows seamless switching between frequencies, enhancing spectrum sharing and avoiding interference from other signals like Wi-Fi and radar. The capability is crucial for emergency services to rapidly establish 5G networks without disruption. It utilizes the SC-RF4-5Gn78 hardware platform and supports flexible RF channels for uninterrupted service.
Wireless Telecom Group (WTT) announced that its third quarter bookings and contract signatures are expected to exceed $10 million, surpassing the previous estimate of $8-10 million. Strong order flow from the Aerospace and Defense industry has contributed to this increase, alongside significant purchase orders in its Radio, Baseband, Software segment. Despite ongoing supply chain challenges impacting revenue recognition, the consolidated backlog continues to rise, suggesting increased revenue expectations moving forward. CEO Timothy Whelan noted a record quarter is anticipated due to strong customer demand.
Wireless Telecom Group (WTT) reported a 22% decline in revenue to $6.1 million for the quarter ended June 30, 2022, compared to $7.8 million last year. The company faced a net loss of $(2.8) million for the first half, a stark contrast to a net income of $651,000 in the prior year. Despite a stable gross profit margin of 56.3%, adjusted EBITDA fell to $(846,000). However, bookings for July reached $3 million, and the company forecasts improved order flow, potentially growing third-quarter bookings to $8-10 million.
Wireless Telecom Group (WTT) announces its financial results for the second quarter and first half of 2022 will be released on August 9, 2022, before market opens. The company will hold a conference call at 8:30 am EDT on the same day to discuss these results. Interested parties can call in or join the webcast online. This financial disclosure is crucial for investors and stakeholders as it marks the midpoint of the fiscal year, enabling an assessment of the company's performance and strategic direction.
Wireless Telecom Group, Inc. (WTT) announced a strategic review to evaluate alternatives aimed at enhancing shareholder value. The company engaged CDX Advisors to explore options that may include selling the entire company or its segments. Despite lower expected revenues of $6.1 million for Q2 2022, down from $7.8 million in Q2 2021, Wireless Telecom reported strong July bookings of approximately $3 million, anticipating third-quarter bookings between $8 million and $10 million. Management remains optimistic about growth in the second half of 2022 based on current backlog.
Wireless Telecom Group (NYSE American: WTT) has launched a new Network Listening Mode (NLM) software under its CommAgility brand, aimed at expediting the deployment of 5G small cells. This software enhances integration capabilities, allowing developers to automate synchronization and configuration steps, thereby reducing time to market and development costs. The NLM software is based on CommAgility’s 5G UE PHY software and supports NXP's Layerscape processors. It is tailored for the 5G FR1/sub-6 GHz range, with customization options available for various client needs.
Wireless Telecom Group (NYSE American: WTT) has launched a new 60 GHz jitter noise generator under its Noisecom brand, enhancing programmable high-frequency noise generation capabilities. This innovative J7000B model is designed for testing robustness in serial data buses, crucial for compliance with evolving protocols. The device adds random jitter to data streams for thorough evaluation. Trusted by leading manufacturers, the J7000B can be customized for specific testing needs, maintaining Wireless Telecom's commitment to pushing industry boundaries.
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