PCTEL reports USD 21.7m in Q1 revenue

PCTEL, Inc. (Nasdaq: PCTI), a provider of Performance Critical TELecom solutions, announced its results for the first quarter ended March 31, 2018, the company said.

Highlights from the quarter include:

Revenue of USD 21.7 million in the quarter, in line with guidance, down 5% from the first quarter last year. Connected Solutions segment revenue was up 3%. RF Solutions segment revenue was down 30%, due to deferred carrier capital budget deployment in North America.

Gross profit margin of 36.2% in the quarter, down 500 basis points compared to last year. The primary reason for the decrease is lower revenue in the RF Solutions segment which has higher margin from its scanner products compared to antenna products. Price erosion in the small cell antenna market also contributed to the decline.

Net loss per diluted share of USD 0.05 in the quarter, compared to net income of USD 0.01 last year.

Non-GAAP net income and adjusted EBITDA are measures the company uses to reflect the results of its core earnings. A reconciliation of those non-GAAP measures to our financial statements is provided later in the press release.

Non-GAAP net loss per diluted share of USD 0.01, compared to Non-GAAP net income per diluted share of USD 0.05 in the first quarter last year.

PCTEL, Inc. provides Performance Critical TELecom technology solutions.