Wireless Telecom Group announces Q3 2017 financial results

Wireless Telecom Group, Inc. (NYSE American:WTT) has announced results for the third quarter ended September 30, 2017, the company said.

For the quarter ended September 30, 2017, the company reported consolidated net revenues of USD 12,560,000, compared to USD 8,344,000 for the same period in 2016, an increase of 50.5%.

Net revenues in the Network Solutions segment were USD 6,428,000, compared to USD 5,507,000 for the same period in 2016, an increase of 16.7%. Net revenues in the Test & Measurement segment were USD 3,901,000, compared to USD 2,837,000 for the same period in 2016, an increase of 37.5%. Net revenues in the Embedded Solutions segment were USD 2,231,000, our second full quarter of results since its acquisition on February 17, 2017.

The company also reported consolidated gross profit of USD 6,113,000, or 48.7% of revenue, for the quarter ended September 30, 2017, compared to USD 3,823,000, or 45.8% of revenue, for the same period in 2016.

For the quarter ended September 30, 2017, gross profit in the Network Solutions segment was USD 2,981,000, or 46.4%, compared to USD 2,513,000, or 45.6%, for the same period in 2016. Gross profit in the Test & Measurement segment was USD 2,166,000, or 55.5%, for the quarter ended September 30, 2017, compared to USD 1,310,000 or 46.2%, for the same period in 2016. Gross profit in the Embedded Solutions segment was USD 966,000, or 43.3% for the quarter ended September 30, 2017.

Wireless Telecom Group, Inc., comprised of Boonton Electronics, CommAgility, Microlab and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems and instruments. Wireless Telecom Group´s website address is http://www.wtcom.com.