PCTEL reports USD 23.5m in Q2 revenue

PCTEL, Inc. (Nasdaq: PCTI) announced its results for the second quarter ended June 30, 2019, the company said.

Revenue of USD 23.5 million in the quarter, 9% higher compared to the prior year. The second quarter revenue was higher by 82% for the test and measurement product line and lower by 8% for the antenna product line compared to the second quarter 2018.

Gross profit margin of 45.5% in the quarter, up 9.4% compared to gross profit margin in the prior year. The increase in the second 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 0.05 in the quarter compared to a GAAP loss of USD 0.07 per share in the second quarter 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 GAAP financial statements is provided later in the press release.

Non-GAAP net income per share of USD 0.13 in the quarter compared to a break-even in the second quarter last year.

Adjusted EBITDA margin as a percent of revenue of 13% in the quarter compared to 2% in the second quarter last year.

USD 36.8 million of cash and short-term investments at June 30, 2019 and no debt.

PCTEL, Inc. is a global supplier of antennas and wireless network testing solutions. Founded in 1994, we are currently celebrating our 25th anniversary. PCTEL´s precision antennas are deployed in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things (IIoT). For more information, visit our website at https://www.pctel.com/.