PCTEL Announces Second-Quarter Results (8/1/12)
PCTEL announced results for the second quarter ended June 30. The company had $20 million in revenue for the quarter, an increase of 5 percent from the same period last year. The company experienced higher antenna product sales but lower scanning receiver product sales than the same period last year.
The gross profit margin was 43 percent in the quarter, compared with 47 percent in the same period last year. The decline in gross profit margin reflects the decrease in revenue mix of the company’s scanning receiver products, with their higher margins relative to antenna products.
The company reported a GAAP net loss of $329,000 for the quarter compared with a net loss of $68,000 for the same period last year. PCTEL reported $66 million of cash, short-term investments, and long-term investments at June 30, a decrease of approximately $1.9 million from the preceding quarter.
“Our antenna business continues to thrive, largely due to the continued focus on vertical markets in the private sector and our investments in GPS, multiple input multiple output (MIMO) and other leading-edge antennas,” said Marty Singer, PCTEL’s chairman and CEO.
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