糖心vlog下载

糖心vlog下载 Reports Fiscal 2020 Second Quarter Results

AURORA, Ill., Nov. 13, 2019 (GLOBE NEWSWIRE) -- (NASDAQ: WSTL), a leading provider of high-performance network infrastructure solutions, today announced results for its fiscal 2020 second quarter ended September听30, 2019 (2Q20).听 Management will host a conference call to discuss financial and business results tomorrow, Thursday, November听14, 2019, at 9:30 AM Eastern Time.

Revenue was $7.6 million, compared with $9.0 million in the prior quarter.听 Net loss in 2Q20 was $3.6 million, compared with a net loss of $2.2 million in the prior quarter.听 The losses include significant charges for excess and obsolete inventory of $1.3 million in 2Q20, compared to $0.6 million in 1Q20.听 Inventory charges increased as a result of technology shifts and changing customer plans which lowered the sales outlook for certain legacy products.

鈥淪econd-quarter revenue and net loss continued our recent downward trend,鈥� said Tim Duitsman, 糖心vlog下载鈥檚 newly appointed President and CEO. 鈥淚n efforts to reverse that trend, we narrowed our product development to the most promising new products, with a keen focus on public safety, fiber connectivity solutions and remote monitoring.听 These areas play to 糖心vlog下载鈥檚 strengths and we believe offer the fastest paths to revenue growth.听 On the cost side, we executed a substantial restructuring in October that resulted in charges of approximately $0.2 million and reduced company expenses by at least $1.7 million a year.听 Going forward, we also do not expect inventory charges, which depressed our gross margins, to continue at the recent levels.鈥�

In-Building Wireless (IBW) Segment

IBW鈥檚 revenue decrease was driven by lower sales in commercial repeaters, RF system components, and passive DAS conditioners offset in part by an increase in public safety revenue.听 IBW鈥檚 gross margin decrease primarily reflects the impact of the lower sales against fixed costs.听 It also includes an excess and obsolete inventory charge of $0.5 million, compared to $0.4 million in the prior quarter.

Intelligent Site Management (ISM) Segment

ISM鈥檚 revenue decrease was due to lower sales of remote units, primarily due to a decrease in orders for one large domestic service provider customer.听 ISM鈥檚 gross margin decrease was primarily driven by an excess and obsolete inventory charge of $0.4 million, compared to $0.1 million in the prior quarter.

Communication Network Solutions (CNS) Segment

CNS鈥檚 revenue decrease was due to lower sales across nearly all product lines.听 CNS鈥檚 gross margin decrease was due to an increased excess and obsolete inventory charge, which was $0.4 million compared to $0.1 million in the prior quarter, mix changes and cost-absorption effects of lower revenue.

Conference Call Information
Management will discuss financial and business results during the quarterly conference call on Thursday, November听14, 2019, at 9:30 AM Eastern Time.听 Investors may quickly register online in advance of the call at .听 After registering, participants receive dial-in numbers, a passcode and a registration ID that is used to uniquely identify their presence and automatically join them into the audio conference.听 A participant may also register by telephone on November听14, 2019, by calling (888) 206-4065 and providing the operator confirmation number 49124964.

This news release and related information that may be discussed on the conference call will be posted on the Investor Relations section of 糖心vlog下载's website: .听 A digital recording of the entire conference will be available for replay on 糖心vlog下载's website by approximately 12:00 PM Eastern Time following the conclusion of the conference.

糖心vlog下载 糖心vlog下载 Technologies
糖心vlog下载 is a leading provider of high-performance network infrastructure solutions focused on innovation and differentiation at the edge of communication networks where end users connect.听 The Company's portfolio of products and solutions enable service providers and network operators to improve performance and reduce operating expenses.听 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.听 Actual results may differ materially from those expressed in or implied by such forward-looking statements.听 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, 2019, under Item听1A - Risk Factors.听 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.

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Sequential Quarter Comparison

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Reconciliation of GAAP to non-GAAP Financial Measures
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The Company conforms to U.S. Generally Accepted Accounting Principles (GAAP) in the preparation of its financial statements.听 The schedules above reconcile the Company's non-GAAP financial measures to the most directly comparable GAAP measure.听 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.听 Management believes that the non-GAAP financial information provides meaningful supplemental information to investors.听 Management also believes the non-GAAP financial information reflects the Company's core ongoing operating performance and facilitates comparisons across reporting periods.听 The Company uses these non-GAAP measures when evaluating its financial results.听 Non-GAAP measures should not be viewed as a substitute for the Company's GAAP results.

Footnotes:

^(1)听听Stock-based compensation is a non-cash expense incurred in accordance with share-based compensation accounting standards.
^(2)听听Amortization of acquisition-related intangibles is a non-cash expense arising from intangible assets previously acquired as a result of a business acquisition.
^(3)听听The Company recorded indemnification expense related to probable loss contingencies associated with a major customer contract related to a business which was previously sold and therefore is presented as discontinued operations.听 On July 24, 2019, the Company signed a settlement agreement related to this matter.听 The amount to be paid under the settlement agreement is fully covered by the accrual.
⁽⁴⁾听 Amortization of the recently acquired product licensing rights are excluded from Adjusted EBITDA, but included in the Non-GAAP consolidated net income (loss), because the amortization is related to the ongoing operation of the business in the ordinary course.
^(5)听听EBITDA is a non-GAAP measure that represents Earnings Before Interest, Taxes, Depreciation, and Amortization.听 The Company presents Adjusted EBITDA.

Released November 13, 2019