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
Wireless Telecom Group (NYSE American: WTT) announced the appointment of C. Scott Gibson as an independent member and Vice Chairman of its Board of Directors. Gibson will chair the newly formed Board Strategy Oversight Committee aimed at enhancing the company’s long-term strategic planning and technology roadmap. The company noted that current board members Joseph M. Manko Jr. and Joseph Garrity will not seek re-election. Chairman Alan Bazaar expressed confidence in Gibson's extensive industry experience to drive growth opportunities, particularly in 5G technology.
Wireless Telecom Group (WTT) announced that its SmallCellSTACK-5G software has been selected by a major U.S. university research center, accelerating the development of 5G small cell technology. The protocol stack offers the necessary performance and flexibility for advanced 5G research, enabling interoperability and design portability for researchers. The CommAgility portfolio supports development with validated software and integrated systems, streamlining the creation of 5G networks.
Wireless Telecom Group (NYSE American: WTT) reported net revenues of $41.7 million for the year ended December 31, 2020, a 14.7% decline compared to the previous year. Gross profit was $21.0 million or 50.2% of net revenue, while the net loss was $8.1 million, impacted by $6.1 million in one-time charges. Non-GAAP Adjusted EBITDA was $1.8 million. The backlog increased by 117% year-over-year to $8.3 million, driven by new customer orders and the Holzworth acquisition.
Wireless Telecom Group (WTT) announced it will release its 4th quarter and fiscal year 2020 financial results on March 19, 2021, before the market opens. A conference call will be held the same day at 8:30 am EDT to discuss the results. Investors can participate by dialing 800-346-7359 or 973-528-0008, using identification number 248191. The event will also be webcast online. Wireless Telecom designs and manufactures RF and microwave components, serving various industries including telecommunications and aerospace.
Wireless Telecom Group (WTT) has announced that its CommAgility 4G LTE software has been selected by a European telecommunications developer for LTE small cell products aimed at public transportation. The choice of carrier-grade software, proven with tier 1 vendors, enhances performance and reliability, reducing risk and development costs. This solution offers fast, dependable Wi-Fi, providing transport operators with a competitive edge. The technology is compatible with future 5G upgrades, ensuring long-term viability.
Wireless Telecom Group (WTT) has appointed Jennifer Fritzsche as an independent board member, expanding its board from seven to eight members. Fritzsche brings extensive experience in capital markets and communications infrastructure, particularly in 5G. She is the CFO of Canopy Spectrum and has a 25-year history as a ranked equity research analyst at Wells Fargo. The company anticipates that her expertise will enhance its position in the evolving communications industry and contribute to long-term shareholder value.
Wireless Telecom Group (NYSE American: WTT) has launched two new millimeter wave noise generation solutions under its Noisecom brand, expanding the NC3000 Series to 110 GHz. These products facilitate product design and testing for automotive radar and high-speed Wi-Fi, enabling maximum bandwidth operation without complex setups. Dr. Lee McMillan emphasized that the new solutions save resources and redesign efforts for engineers, allowing integration into existing coaxial systems. The NC3000 Series provides additive white Gaussian noise from 10 MHz to 110 GHz, enhancing testing flexibility and addressing challenges in high-technology wireless applications.
Wireless Telecom Group (NYSE American: WTT) announced a major milestone in 5G technology via CommAgility, achieving full end-to-end data transfer compliance with 3GPP standards for 5G NR Release 15. This development allows customers to confidently develop 5G Radio Area Network systems. CommAgility has also launched its SmallCellPHY-5G software, compatible with NXP Semiconductors products, enhancing the 5G solution portfolio. The new 5G Reference gNodeB is set for Q4 2020 deliveries, streamlining 5G deployment for developers.
Wireless Telecom Group reported Q3 2020 net revenues of $10.9 million, slightly up from $10.8 million in 2019, with a gross profit of $5.7 million reflecting a 52% margin. The net loss widened to $775,000 from $461,000 a year prior. Non-GAAP Adjusted EBITDA surged to $722,000, a 644% increase year-over-year. New customer orders totaled $10.8 million, with significant contributions from the Holzworth acquisition, while the backlog grew to $6.1 million. Despite COVID-19 delays, the company anticipates growth in software solutions.
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