PCTEL, Inc. (Nasdaq: PCTI) has announced its results for the third quarter ended September 30, 2019, the company said.
Revenue of USD 23.6 million in the quarter, 28% higher compared to the prior year. The third quarter revenue was higher by 104% for the test and measurement product line and higher by 11% for the antenna product line compared to the third quarter 2018.
Gross profit margin of 45.1% in the quarter, up 8.6% compared to gross profit margin in the prior year. The increase in the third quarter is a result of higher revenues for test and measurement products and improved profitability for antenna products.
GAAP net income per share of USD 0.07 in the quarter compared to a GAAP loss of USD 0.10 per share in the third quarter last year. In the quarter, the company recorded restructuring expense of USD 0.3 million related to the transition plan for China manufacturing, which was approximately USD 0.02 per share.
PCTEL is a global provider of wireless technology, including purpose-built antenna systems, Industrial IoT devices, and test and measurement solutions. For more information, visit our website at https://www.pctel.com/.