PCTEL Reports Q1 Financial Results

PCTEL, Inc. (Nasdaq: PCTI) announced its results for the first quarter ended March 31, 2020, the company said.

Revenue of USD 17.5 million in the quarter, 15% lower compared to the first quarter 2019. Revenue was higher by 10% for the test and measurement product line, but lower by 24% in the higher volume antenna product line compared to the first quarter 2019.

Gross profit margin of 46.9% in the first quarter, up 4.9% compared to the gross profit margin in the first quarter 2019. The percentage increase in the first quarter is a result of higher revenues for test and measurement products and an increase in the gross margin percentage for antenna products.

GAAP net loss per share of USD 0.04 in the first quarter compared to a GAAP net loss per share of USD 0.02 in the first quarter 2019.

Non-GAAP net income and adjusted EBITDA are measures the Company uses to measure its core earnings.

Non-GAAP net income per diluted share of USD 0.01 in the first quarter compared to Non-GAAP net income per diluted share of USD 0.04 in the first quarter 2019.

Adjusted EBITDA as a percent of revenue of 3.8% in the first quarter compared to 6.6% in the first quarter 2019.

PCTEL is a provider of wireless technology, including purpose-built Industrial IoT devices, antenna systems, and test and measurement solutions. For more information, visit https://www.pctel.com/.