Airgain reports Q3 2017 financial results

Airgain, Inc. (NASDAQ: AIRG), a provider of advanced antenna technologies used to enable high performance wireless networking, has reported unaudited results for the third quarter ended September 30, 2017, the company said.

Sales totaled USD 12.4 million, which is in line with the company´s previously provided 2017 annual guidance.

Gross profit grew 7.7% to USD 6.0 million from USD 5.6 million in Q3 of last year. Gross margin as a percentage of sales increased to 48.2% in the third quarter of 2017, compared to 44.8% in the same year-ago period.

Total operating expenses for the third quarter of 2017 grew 33.5% to USD 5.8 million from USD 4.3 million in Q3 of last year. The increase was primarily due to higher personnel expenses to support the company´s sales, marketing, and R&D initiatives, and costs associated with Antenna Plus.

Net income attributable to common stockholders totaled USD 0.2 million or USD 0.02 per diluted share (based on 10.2 million shares), compared to net income attributable to common stockholders of USD 0.9 million or USD 0.16 per diluted share (based on 6.7 million shares) in the same year-ago period.

Airgain is a provider of advanced antenna technologies used to enable high performance wireless networking across a broad range of home, enterprise, and industrial devices. It is headquartered in San Diego, California, and maintains design and test centers in San Diego, California; Scottsdale, Arizona; Cambridge, United Kingdom; and, Suzhou and Shenzhen, China. For more information, visit airgain.com.