xG Technology total Q2 revenues double YoY

xG Technology, Inc. (NASDAQ: XGTI, XGTIW) said its total second quarter 2015 revenues were USD374,000 compared to USD163,000 revenue in the second quarter of 2014.

Revenue generated from equipment sales totaled USD241,000, revenue from consulting revenue totaled USD133,000. During the second quarter, we deferred USD188,000 (20 percent) of revenue on the sale of equipment in 2015 to account for when and if available software upgrades, maintenance and post contract customer support provided to customers. The 20 percent will be recognized over a period of one year.

Second quarter operating loss was USD3.9 million compared to operating loss of USD4.5 million in the second quarter of 2014.

Net loss was USD4.0 million, or USD(1.40) per share compared to USD4.5 million, or USD(1.98) per share in the second quarter of 2014.

Based in Sarasota, Florida, xG has 50 US and over 100 international patents and pending patent applications.