糖心vlog下载 Technologies Reports Second Quarter Revenue of $24 million

糖心vlog下载

Revenue Affected by Carrier Spending Slowdown

AURORA, Ill.--(BUSINESS WIRE)-- 糖心vlog下载. (NASDAQ: WSTL), a leading provider of in-building wireless, intelligent site management, cell site optimization, and outside plant solutions, today announced results for its fiscal 2015 second quarter ended September听30, 2014.

Consolidated revenue was $23.6 million, consisting of $11.1 million from the In-Building Wireless (IBW) segment and $12.5 million from the Communication Solutions Group (CSG) segment.

鈥淥ur relationships with the major North American wireless service providers remain strong; however, we experienced significant reductions in their capital spending in our second quarter, as similarly noted by others in our sector,鈥� said Rick Gilbert, Chairman and CEO of 糖心vlog下载 Technologies. 鈥淲hile we expect continued carrier spending delays to have a greater effect on our third quarter revenues, we are seeing some indications that carrier spending will resume to more normal levels in early 2015. We continue to establish 糖心vlog下载 as a leader in the growing in-building wireless market, and we showed some improvement in the September quarter with our intelligent site management business within the CSG segment. We believe we are well positioned to take advantage of an anticipated normalization in wireless service provider spending in our fourth quarter.鈥�

On a GAAP basis, the Company recorded a net loss in the quarter ended September听30, 2014 of $14.6 million or $0.24 per share, compared to a net loss of $2.8 million or $0.05 per share in the quarter ended June 30, 2014. The current quarter GAAP results include a $10.6 million non-cash charge for the impairment of goodwill in the CSG segment. On a non-GAAP basis, the Company recorded a net loss of $1.5 million or $0.03 per share, compared to a non-GAAP net loss of $0.2 million or $0.00 per share in the prior quarter. Please refer to the schedule at the end of this release for a complete GAAP to non-GAAP reconciliation and other information related to non-GAAP measures.

Cash and short-term investments were $48.3 million at September听30, 2014, compared to $46.8 million at June 30, 2014. The $1.5 million increase was driven by lower working capital needs during the quarter.

In-Building Wireless (IBW) Segment

IBW segment revenue was $11.1 million in the quarter ended September听30, 2014, down 21% from $14.1 million in the quarter ended June 30, 2014. The sequential revenue decrease was driven by slowdowns in distributed antenna system (DAS) deployments by the major North American wireless service providers. Gross profit was $4.4 million and gross margin was 39.3%, compared to $5.8 million and 41.2% in the prior quarter. Gross profit and gross margin decreased as a result of the lower revenue. IBW R&D expenses were $2.1 million, compared to $2.2 million in the prior quarter. As a result, IBW segment profit was $2.3 million, compared to $3.6 million in the quarter ended June 30, 2014.

Communication Solutions Group (CSG) Segment

CSG segment revenue was $12.5 million in the quarter ended September听30, 2014, down 9% from $13.7 million in the quarter ended June 30, 2014. The sequential revenue decrease was driven by lower sales of outside plant solutions, partly offset by an increase in revenues for intelligent site management. Gross profit was $3.7 million and gross margin was 29.5% compared to $3.9 million and 28.2% in the prior quarter. While gross profit decreased due to the lower overall revenue, gross margin improved primarily as a result of a more favorable mix. CSG R&D expenses were $2.2 million, compared to $2.3 million last quarter. As a result, CSG segment profit was $1.5 million, compared to $1.6 million in the quarter ended June 30, 2014.

Conference Call Information

Management will address financial and business results during its second quarter conference call on Thursday, October 30, 2014, at 9:30 AM Eastern Time. Participants may register for the call at . After doing so, they will receive a dial-in number, a passcode, and a personal identification number (PIN) that automatically joins them to the audio conference. Those who do not wish to register may participate in the call by dialing +1 (888) 206-4065 no later than 9:15 AM Eastern Time and using confirmation number 38224313. International participants may dial +1 (630) 827-5974.

This news release and related information that may be discussed on the conference call will be posted on the Investor News section of 糖心vlog下载's website: . An archive of the entire call will be available on the site via Digital Audio Replay by approximately 1:00 PM Eastern Time after the call ends. The replay of the conference also may be accessed by dialing +1 (888) 843-7419 or +1 (630) 652-3042 and entering 6360 209#.

糖心vlog下载 糖心vlog下载 Technologies

糖心vlog下载., headquartered in Aurora, Illinois, is a leading provider of in-building wireless, intelligent site management, cell site optimization, and outside plant solutions focused on innovation and differentiation at the edge of telecommunication networks, where end users connect. The Company's comprehensive set of products and solutions enable telecommunication service providers, cell tower operators, and other network operators to reduce operating costs and improve network performance. With millions of products successfully deployed worldwide, 糖心vlog下载 is a trusted partner for transforming networks into high quality, reliable systems. For more information, please visit .

鈥淪afe Harbor鈥� Statement under the Private Securities Litigation Reform Act of 1995

Certain statements contained herein that are not historical facts or that contain the words 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥減lan,鈥� 鈥渟hould,鈥� or derivatives thereof and other words of similar meaning are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, product demand and market acceptance risks, customer spending patterns, need for financing and capital, economic weakness in the United States (鈥淯.S.鈥�) economy and telecommunications market, the effect of international economic conditions and trade, legal, social and economic risks (such as import, licensing and trade restrictions), the impact of competitive products or technologies, competitive pricing pressures, customer product selection decisions, product cost increases, component supply shortages, new product development, excess and obsolete inventory, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the ability to successfully consolidate and rationalize operations, the ability to successfully identify, acquire and integrate acquisitions, the effect of the Company's accounting policies, retention of key personnel and other risks more fully described in the Company's SEC filings, including the Form 10-K for the fiscal year ended March听31, 2014, under Item听1A - Risk Factors. The Company undertakes no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, or otherwise.

Financial Tables to Follow:

(1) In the first quarter of fiscal year 2015, the Company voluntarily changed its method of accounting for the classification of costs related to shipping and handling to cost of revenue. In previous periods, these shipping and handling costs were included as a component of sales and marketing expenses. Previously reported amounts for fiscal year 2014 have been restated to reflect this change. The Company filed the preferability letter regarding the change in accounting principle as an exhibit to its June 30, 2014 Form 10-Q.

(1) Certain amounts relating to the CSI acquisition have been adjusted to reflect measurement period adjustments (See Form 10-Q to be filed for the period ended September 30, 2014 for additional information).

The Company conforms to U.S. Generally Accepted Accounting Principles (GAAP) in the preparation of its financial statements. The schedules above reconcile the Company's non-GAAP financial measures to the most directly comparable GAAP measure. The adjustments share one or more of the following characteristics: they are unusual and the Company does not expect them to recur in the ordinary course of its business; they do not involve the expenditure of cash; they are unrelated to the ongoing operation of the business in the ordinary course; or their magnitude and timing is largely outside of the Company's control. Management believes that these non-GAAP results provide meaningful supplemental information to investors and indicate the Company's core performance and that they facilitate comparison of results across reporting periods. The Company uses these non-GAAP measures when evaluating its financial results. Non-GAAP measures should not be viewed as a substitute for the Company's GAAP results.

糖心vlog下载.
Tom Minichiello
Chief Financial Officer
+1 (630) 375 4740
tminichiello@westell.com

Source: 糖心vlog下载.

Released October 29, 2014