WIRELESS TELECOM GROUP ANNOUNCES FIRST QUARTER 2022 FINANCIAL RESULTS
Wireless Telecom Group (WTT) reported Q1 2022 results showing revenue of $7.6 million, down from $8.2 million year-over-year. The company completed the sale of Microlab for $24.25 million, improving cash on hand to $19.1 million. Test & Measurement revenues grew 13.7% year-over-year to $6.1 million. However, the GAAP net loss increased to $(1.5) million from $(475,000) in the prior year. Non-GAAP adjusted EBITDA also fell to $(70,000) compared to $357,000 last year. Despite challenges, the company expects growth in the second half of 2022, driven by new contracts and operational adjustments.
- Successful Microlab sale for $24.25 million strengthens cash position.
- Test & Measurement revenue increased by 13.7% year-over-year.
- Repaid $4.7 million in debt, improving balance sheet health.
- Revenue decreased by 7.2% compared to the previous year.
- GAAP net loss from continuing operations increased significantly to $(1.5) million.
- Non-GAAP adjusted EBITDA fell to $(70,000), down from $357,000 in the prior year.
Highlights for the quarter ended March 31, 2022:
- Completed Microlab sale to RF Industries, Ltd. on March 1, 2022 for
$24.25 million
- Repaid debt of
$4.7 million and terminated Muzinich and Bank of America Credit Facilities
$19.1 million in cash on balance sheet as of March 31, 2022
- Revenue of
$7.6 million compared to$8.2 million for the same period last year
- Test & Measurement revenue up
13.7% year-over-year to$6.1 million
- Gross profit of
$4.4 million and gross margin of57.3% compared to$4.9 million and59.3% for the same period last year
- GAAP Net loss from continuing operations of
$(1.5) million , compared to a net loss from continuing operations of$(475,000) for the same period last year
- Non-GAAP adjusted net (loss) from continuing operations of
$(117,000) compared to net loss of$(130,000) for the same period last year.
- Non-GAAP Adjusted EBITDA of
$(70,000) , compared to Non-GAAP Adjusted EBITDA of$357,000 for the same period last year
- Bookings of
$5.3 million in the quarter and backlog of$7.3 million as of March 31, 2022
Parsippany, New Jersey, May 11, 2022 (GLOBE NEWSWIRE) -- Wireless Telecom Group, Inc. (NYSE American: WTT) (the “Company”) announced today results for the three months ended March 31, 2022.
Tim Whelan, CEO of Wireless Telecom Group, Inc. stated, “The successful close of the Microlab divestiture during the first quarter is a transformational event for the Company, allowing us to pay off our debt and streamline our business to focus on our higher growth segments of Test & Measurement and Radio, Baseband and Software. Our first quarter bookings reflected solid progress in T&M, including continued sales related to satellite communications, semiconductor development, and quantum computing applications. Our first quarter bookings included the cancellation of a
Mr. Whelan continued, “We are keeping a close eye on the challenges associated with the global supply chain and we are working with our customers and suppliers to limit the effect on our business. Despite this, we remain confident in the expectation for revenue growth and profitability in 2022, supported by a robust funnel of opportunities across our global T&M and RBS segments. In addition, an active refresh of our strategic plan is in advanced stages and the Board of Directors is considering the use of up to
First Quarter 2022 Operating Results:
- Microlab results are presented as discontinued operations in the Consolidated Statements of Operations. Consolidated Statements of Cash Flows are presented on a consolidated basis for both continuing operations and discontinued operations.
- Consolidated net revenues decreased
7.2% from the prior year period due to lower hardware and software revenue at RBS of$1.3 million partially offset by increased revenues at T&M of$732,000. - Gross profit margin decreased from
59.3% in the prior year period to57.3% in the first quarter 2022 due to lower software revenue contribution at RBS. - Operating expenses increased
11.7% or$607,000 from the prior year period due primarily to higher non-cash stock compensation expense of$215,000 and expenses associated with the Microlab divestiture of$530,000. - GAAP loss from continuing operations of
$(1.5) million compared to loss of$(475,000) in the prior year. The higher loss is due primarily to lower gross profit of$499,000 and loss on extinguishment of debt of$792,000 recognized in the quarter partially offset by lower interest expense of$120,000 and a higher tax benefit of$706,000. - Non-GAAP adjusted net loss from continuing operations of
$(117,000) compared to a loss of$(130,000) in the prior year period. Non-GAAP adjusted net loss from continuing operations is a metric the Company uses to measure our core operations. A reconciliation of net loss from continuing operations to Non-GAAP adjusted net loss from continuing operations is provided later in this press release. - Non-GAAP Adjusted EBITDA of
$(70,000) compared to$357,000 in the prior year. Non-GAAP adjusted EBITDA is a metric the Company uses to measure our core operations. A reconciliation of non-GAAP adjusted EBITDA to GAAP net income is provided later in this press release. - Income from discontinued operations of
$11.7 million net of tax provision of$4.9 million . Includes gain on sale of$16.4 million .
Cash Flow and Balance Sheet
- Received
$22.8 million in proceeds from the sale of Microlab, net of escrows and transaction expenses. - Repaid and terminated both the Muzinich term loan and the Bank of America credit facility totaling
$4.7 million and added approximately$18.0 million net cash proceeds to the balance sheet. - Cash balance of
$19.1 million as of March 31, 2022.
Conference Call
As previously announced, Wireless Telecom Group Inc. will host a conference call on May 11, 2022 at 8:30 a.m. ET in which management will discuss first quarter results and related matters. To participate in the conference call, dial 800-346-7359 or 973-528-0008. The conference identification number is 818215.
The call will also be webcast over the internet at the following URL:
https://www.webcaster4.com/Webcast/Page/1690/45503
A replay will be made available on the Wireless Telecom website following the conference call.
Investor Contact
Andrew M. Berger
Managing Director
SM Berger & Company
Tel: (216) 464-6400
Contact
Michael Kandell
25 Eastmans Road
Parsippany, NJ 07054
Tel: (973) 386-9696
Fax: (973) 386-9191
Use of Non-GAAP Financial Measures
The Company reports its financial results in accordance with generally accepted accounting principles (“GAAP”). Management believes, however, that certain non‐GAAP financial measures used in managing the Company’s business may provide users of this financial information with additional meaningful comparisons between current results and prior reported results. Certain of the information set forth herein and certain of the information presented by the Company from time to time may constitute non‐GAAP financial measures within the meaning of Regulation G adopted by the Securities and Exchange Commission. We have presented herein a reconciliation of these measures to the most directly comparable GAAP financial measure. The non‐GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. The foregoing measures do not serve as a substitute and should not be construed as a substitute for GAAP performance, but provide supplemental information concerning our performance that our investors and we find useful.
The Company defines Non-GAAP adjusted operating income/(loss) as GAAP operating income/(loss) excluding non-cash amortization expense of purchased intangible assets, non-recurring expenses associated with acquisition and divestiture activities and non-cash stock compensation expense.
The Company defines Non-GAAP adjusted net income/(loss) from continuing operations as GAAP net income/(loss) from continuing operations excluding non-cash amortization expense of purchased intangible assets, non-recurring expenses associated with acquisition and divestiture activities, non-cash stock compensation expense and the loss on extinguishment of our Muzinich and Bank of America N.A. credit facilities.
The Company defines EBITDA as its net earnings before interest, taxes, depreciation and amortization. “Adjusted EBITDA” is EBITDA excluding our stock compensation expense, restructuring charges, acquisition and divestitures expenses, integration expenses, unrealized and realized foreign exchange gains and losses, purchase accounting adjustments, non-recurring legal fees associated with the Harris arbitration, goodwill and indefinite lived intangible asset impairment charges, (gain)/loss on change in fair value of contingent consideration, gain on extinguishment of our PPP loan, loss on extinguishment of our Muzinich and Bank of America N.A. credit facilities and other non-recurring costs. A reconciliation of net income/(loss) to non-GAAP Adjusted EBITDA is included as an attachment to this press release.
The Company views Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted Operating Income/(Loss) and Non-GAAP Adjusted Net Income/(Loss) from Continuing Operations as important indicators of performance, consistent with the manner in which management measures and forecasts the Company’s performance. We believe these Non-GAAP measures are important performance metrics because they facilitate the analysis of our results, exclusive of certain non‐cash and non-recurring items, including items which do not directly correlate to our business operations.
The Company believes that Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted Operating Income/(Loss) and Non-GAAP Adjusted Net Income/(Loss) from Continuing Operations metrics provide qualitative insight into our current performance; we use these measures to evaluate our results, the performance of our management team and our management’s entitlement to incentive compensation; and we believe that making this information available to investors enables them to view our performance the way that we view our performance and thereby gain a meaningful understanding of our core operating results, in general, and from period to period.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, such forward-looking statements may be identified by terms such as believe, expect, seek, may, will, intend, project, anticipate, plan, estimate, guidance or similar words. Forward-looking statements include, among others, our expectation that RBS contracts will be delivered throughout 2022 and will contribute to revenue and profitability growth during the second half of the year, our expectation for revenue growth and profitability in 2022, and the expectation of the use of up to
About Wireless Telecom Group, Inc.
Wireless Telecom Group, Inc., comprised of Boonton, CommAgility, Holzworth, and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems, and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, and semiconductor industries, Wireless Telecom Group products enable innovation across existing and emerging wireless technologies. With a product portfolio including peak power meters, signal generators, phase noise analyzers, signal processing modules, LTE PHY/stack software, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe. Wireless Telecom Group, Inc.’s website address is wirelesstelecomgroup.com.
Wireless Telecom Group Inc.
CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)
(UNAUDITED)
(In thousands, except per share amounts)
| For the Three Months Ended | ||||||||
| March 31 | ||||||||
| 2022 | 2021 | |||||||
| Net revenues | $ | 7,596 | $ | 8,184 | ||||
| Cost of revenues | 3,241 | 3,330 | ||||||
| Gross profit | 4,355 | 4,854 | ||||||
| Operating expenses | ||||||||
| Research and development | 1,159 | 1,156 | ||||||
| Sales and marketing | 1,260 | 1,195 | ||||||
| General and administrative | 3,392 | 2,853 | ||||||
| Total operating expenses | 5,811 | 5,204 | ||||||
| Operating income/(loss) | (1,456 | ) | (350 | ) | ||||
| Loss on extinguishment of debt | (792 | ) | - | |||||
| Other income/(expense) | 101 | 27 | ||||||
| Interest expense | (177 | ) | (297 | ) | ||||
| Income/(Loss) before taxes | (2,324 | ) | (620 | ) | ||||
| Tax provision/(benefit) | (851 | ) | (145 | ) | ||||
| Net (loss) from continuing operations | $ | (1,473 | ) | $ | (475 | ) | ||
| Net income from discontinued operations, net of tax | 11,670 | 242 | ||||||
| Net Income/(loss) | $ | 10,197 | $ | (233 | ) | |||
| Other comprehensive income/(loss): | ||||||||
| Foreign currency translation adjustments | (137 | ) | 75 | |||||
| Comprehensive Income/(Loss) | $ | 10,060 | $ | (158 | ) | |||
| Income/(Loss) per share from continuing operations: | ||||||||
| Basic | $ | (0.07 | ) | $ | (0.02 | ) | ||
| Diluted | $ | (0.07 | ) | $ | (0.02 | ) | ||
| Income/(Loss) per share from discontinued operations: | ||||||||
| Basic | $ | 0.52 | $ | 0.01 | ||||
| Diluted | $ | 0.47 | $ | 0.01 | ||||
| Net Income/(Loss) per share: | ||||||||
| Basic | $ | 0.45 | $ | (0.01 | ) | |||
| Diluted | $ | 0.40 | $ | (0.01 | ) | |||
| Weighted average shares outstanding: | ||||||||
| Basic | 22,603 | 21,742 | ||||||
| Diluted | 25,070 | 24,050 | ||||||
CONSOLIDATED BALANCE SHEET
(In thousands, except number of shares and par value)
| (Unaudited) | ||||||||
| March 31 2022 | December 31 2021 | |||||||
| CURRENT ASSETS | ||||||||
| Cash & cash equivalents | $ | 19,072 | $ | 4,472 | ||||
| Accounts receivable - net of reserves of | 3,875 | 2,407 | ||||||
| Inventories - net of reserves of | 4,976 | 5,088 | ||||||
| Prepaid expenses and other current assets | 2,233 | 1,689 | ||||||
| Current assets of discontinued operations | - | 6,869 | ||||||
| TOTAL CURRENT ASSETS | 30,156 | 20,525 | ||||||
| PROPERTY PLANT AND EQUIPMENT - NET | 1,300 | 1,110 | ||||||
| OTHER ASSETS | ||||||||
| Goodwill | 10,012 | 10,108 | ||||||
| Acquired intangible assets, net | 3,418 | 3,661 | ||||||
| Deferred income taxes, net | 2,314 | 5,580 | ||||||
| Right of use assets | 1,007 | 1,146 | ||||||
| Other Assets | 290 | 284 | ||||||
| Non current asserts of discontinued operations | - | 1,937 | ||||||
| TOTAL OTHER ASSETS | 17,041 | 22,716 | ||||||
| TOTAL ASSETS | $ | 48,497 | $ | 44,351 | ||||
| CURRENT LIABILITIES | ||||||||
| Short term debt | $ | 62 | $ | 126 | ||||
| Accounts payable | 1,470 | 1,481 | ||||||
| Short term leases | 599 | 585 | ||||||
| Accrued expenses and other current liabilities | 6,259 | 6,676 | ||||||
| Deferred revenue | 89 | 408 | ||||||
| Current liabilities of discontinued operations | - | 1,965 | ||||||
| TOTAL CURRENT LIABILITIES | 8,479 | 11,241 | ||||||
| LONG TERM LIABILITIES | ||||||||
| Long term debt | 267 | 3,595 | ||||||
| Long term leases | 462 | 615 | ||||||
| Other long term liabilities | 52 | 52 | ||||||
| Deferred tax liability | 222 | 228 | ||||||
| TOTAL LONG TERM LIABILITIES | 1,003 | 4,490 | ||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| SHAREHOLDERS’ EQUITY | ||||||||
| Preferred Stock, $.01 par value, 2,000,000 shares authorized, none issued | - | - | ||||||
| Common Stock, $.01 par value, 75,000,000 shares authorized 36,230,636 and 35,915,636 shares issued, 22,972,008 and 22,666,074 shares outstanding | 362 | 359 | ||||||
| Additional paid in capital | 51,906 | 51,555 | ||||||
| Retained earnings/(deficit) | 10,751 | 554 | ||||||
| Treasury stock at cost, 13,258,627 and 13,249,564 shares | (24,638 | ) | (24,619 | ) | ||||
| Accumulated other comprehensive income | 634 | 771 | ||||||
| TOTAL SHAREHOLDERS’ EQUITY | 39,015 | 28,620 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 48,497 | $ | 44,351 | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
| For the Three Months | ||||||||
| Ended March 31 | ||||||||
| 2022 | 2021 | |||||||
| CASH FLOWS PROVIDED/(USED) BY OPERATING ACTIVITIES | ||||||||
| Net income/(loss) | $ | 10,197 | $ | (233 | ) | |||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 433 | 530 | ||||||
| Extinguishment of Term Debt | 792 | - | ||||||
| Gain on sale of Microlab | (16,403 | ) | - | |||||
| Amortization of debt issuance fees | 55 | 83 | ||||||
| Share-based compensation expense | 330 | 114 | ||||||
| Deferred rent | (7 | ) | (7 | ) | ||||
| Deferred income taxes | 3,265 | 178 | ||||||
| Provision for doubtful accounts | (16 | ) | 3 | |||||
| Inventory reserves | 24 | 61 | ||||||
| Changes in assets and liabilities, net of divestiture: | ||||||||
| Accounts receivable | (1,411 | ) | (853 | ) | ||||
| Inventories | (132 | ) | (517 | ) | ||||
| Prepaid expenses and other assets | (184 | ) | (254 | ) | ||||
| Accounts payable | 304 | 606 | ||||||
| Deferred Revenue | (317 | ) | - | |||||
| Accrued expenses and other liabilities | (505 | ) | 235 | |||||
| Net cash (used) by operating activities | (3,575 | ) | (235 | ) | ||||
| CASH FLOWS PROVIDED/(USED) BY INVESTING ACTIVITIES | ||||||||
| Capital expenditures | (151 | ) | (144 | ) | ||||
| Deferred purchase price payment | (250 | ) | (200 | ) | ||||
| Divestiture of Microlab, net | 22,753 | - | ||||||
| Net cash provided/(used) by investing activities | 22,352 | (344 | ) | |||||
| CASH FLOWS PROVIDED/(USED) BY FINANCING ACTIVITIES | ||||||||
| Term loan repayments | (4,104 | ) | (449 | ) | ||||
| Proceeds from exercise of stock options | 24 | - | ||||||
| Shares withheld for employee taxes | (19 | ) | (17 | ) | ||||
| Net cash provided/(used) by financing activities | (4,099 | ) | (466 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | (78 | ) | (13 | ) | ||||
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | 14,600 | 665 | ||||||
| Cash and cash equivalents, at beginning of period | 4,472 | 4,910 | ||||||
| CASH AND CASH EQUIVALENTS, AT END OF PERIOD | $ | 19,072 | $ | 3,880 | ||||
| SUPPLEMENTAL INFORMATION: | ||||||||
| Cash paid during the period for interest | $ | 122 | $ | 213 | ||||
| Cash paid during the period for income taxes | $ | 12 | $ | 13 | ||||
NET REVENUE AND GROSS PROFIT BY SEGMENT
(In thousands)
Unaudited
| Three months ended March 31 | ||||||||||||||||||||||||
| Revenue | % of Revenue | Change | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | Amount | Pct. | |||||||||||||||||||
| Test and measurement | 6,059 | 5,327 | 79.8 | % | 65.1 | % | 732 | 13.7 | % | |||||||||||||||
| Radio, baseband, software | 1,537 | 2,857 | 20.2 | % | 34.9 | % | (1,320 | ) | -46.2 | % | ||||||||||||||
| Total net revenues | $ | 7,596 | $ | 8,184 | 100.0 | % | 100.0 | % | $ | (588 | ) | -7.2 | % | |||||||||||
| Three months ended March 31 | ||||||||||||||||||||||||
| Gross Profit | Gross Profit % | Change | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | Amount | Pct. | |||||||||||||||||||
| Test and measurement | 3,508 | 3,054 | 57.9 | % | 57.3 | % | 454 | 14.9 | % | |||||||||||||||
| Radio, baseband, software | 847 | 1,800 | 55.1 | % | 63.0 | % | (953 | ) | -52.9 | % | ||||||||||||||
| Total gross profit | $ | 4,355 | $ | 4,854 | 57.3 | % | 59.3 | % | $ | (499 | ) | -10.3 | % | |||||||||||
SEGMENT FINANCIAL STATEMENTS
(In thousands, unaudited)
| Three months ended | Three months ended | |||||||||||||||||||||||
| March 31, 2022 | March 31, 2021 | |||||||||||||||||||||||
| T&M | RBS | Consolidated | T&M | RBS | Consolidated | |||||||||||||||||||
| Net revenues | $ | 6,059 | $ | 1,537 | $ | 7,596 | $ | 5,327 | $ | 2,857 | $ | 8,184 | ||||||||||||
| Cost of revenues | 2,551 | 690 | 3,241 | 2,273 | 1,057 | 3,330 | ||||||||||||||||||
| Gross profit | 3,508 | 847 | 4,355 | 3,054 | 1,800 | 4,854 | ||||||||||||||||||
| Segment Operating Expenses | 1,871 | 1,598 | 3,469 | 1,401 | 1,835 | 3,236 | ||||||||||||||||||
| Segment Profitability | 1,637 | (751 | ) | 886 | 1,653 | (35 | ) | 1,618 | ||||||||||||||||
| Corporate Expenses | 2,342 | 1,968 | ||||||||||||||||||||||
| Operating Loss | (1,456 | ) | (350 | ) | ||||||||||||||||||||
| Other income/(expense) | (691 | ) | 27 | |||||||||||||||||||||
| Interest expense | (177 | ) | (297 | ) | ||||||||||||||||||||
| Income/(Loss) before taxes | (2,324 | ) | (620 | ) | ||||||||||||||||||||
| Tax provision/(benefit) | (851 | ) | (145 | ) | ||||||||||||||||||||
| Net income/(loss) from continuing operations | (1,473 | ) | (475 | ) | ||||||||||||||||||||
| Net income from Discontinued Operations, net of tax | 11,670 | 242 | ||||||||||||||||||||||
| Net income/(loss) | $ | 10,197 | $ | (233 | ) | |||||||||||||||||||
| Depreciation and Amortization | $ | 279 | $ | 154 | $ | 433 | $ | 224 | $ | 246 | $ | 469 | ||||||||||||
RECONCILIATION OF NON GAAP MEASURES
(In thousands, unaudited)
| Three Months Ended | ||||||||
| March 31 | ||||||||
| 2022 | 2021 | |||||||
| Net income/(loss) from continuing operations | $ | (1,473 | ) | $ | (475 | ) | ||
| Tax Provision/(Benefit) | (851 | ) | (52 | ) | ||||
| Depreciation and Amortization Expense | 433 | 469 | ||||||
| Interest Expense | 177 | 297 | ||||||
| Non-GAAP EBITDA | (1,714 | ) | 239 | |||||
| Stock Compensation | 330 | 114 | ||||||
| Merger and Acquisition/Integration | 530 | - | ||||||
| Restructuring Cost | - | 25 | ||||||
| FX (Gain)/Loss | (8 | ) | (25 | ) | ||||
| Loss on extinguishment of debt | 792 | - | ||||||
| Non Recurring Arbitration Legal Costs | - | 4 | ||||||
| Non-GAAP Adjusted EBITDA | $ | (70 | ) | $ | 357 | |||
| Three Months Ended March 31 | ||||||||
| 2022 | 2021 | |||||||
| GAAP Operating Income/(Loss), as reported | $ | (1,456 | ) | $ | (350 | ) | ||
| Adjustments: | ||||||||
| Amortization of acquired intangible assets | 234 | 329 | ||||||
| M&A/Acquisition Expenses | 530 | - | ||||||
| Stock Compensation Expense | 330 | 114 | ||||||
| Restructuring costs | - | 25 | ||||||
| Total Adjustments to operating income/(loss) | 1,094 | 468 | ||||||
| Non-GAAP Adjusted Operating Income/(Loss) | (362 | ) | 118 | |||||
| Net Income/(loss) from continuing operations, as reported | $ | (1,473 | ) | $ | (475 | ) | ||
| Adjustments: | ||||||||
| Total pretax adjustments to operating income/(loss) | 1,094 | 468 | ||||||
| Loss on extinguishment of debt | 792 | - | ||||||
| Total adjustments to net loss from continuing operations | 1,886 | 468 | ||||||
| Tax effects of adjustments | 530 | 123 | ||||||
| Non-GAAP Adjusted Net Income/(loss) from continuing operations | $ | (117 | ) | $ | (130 | ) | ||
| Basic EPS, as reported | $ | (0.07 | ) | $ | (0.02 | ) | ||
| Diluted EPS, as reported | $ | (0.07 | ) | $ | (0.02 | ) | ||
| Non-GAAP Adjusted Basic EPS | $ | (0.01 | ) | $ | (0.01 | ) | ||
| Non-GAAP Adjusted Diluted EPS | $ | (0.01 | ) | $ | (0.01 | ) | ||
| Basic Shares | 22,603 | 21,742 | ||||||
| Diluted Shares | 22,603 | 21,742 | ||||||
FAQ
What were Wireless Telecom Group's Q1 2022 earnings results?
How did WTT's Test & Measurement segment perform in Q1 2022?
What impact did the sale of Microlab have on WTT's financial position?
What is WTT's outlook for revenue growth in 2022?
