Printer Friendly

WEGENER CORPORATION ANNOUNCES FIRST QUARTER RESULTS

 WEGENER CORPORATION ANNOUNCES FIRST QUARTER RESULTS
 DULUTH, Ga., Jan. 21 /PRNewswire/ -- Wegener Corporation


(NASDAQ-NMS: WGNR) today announced net earnings of $9,000 or $0.00 per share for the three months ended Nov. 29, 1991, compared to a net loss of $(472,000) or $(0.07) per share for the three months ended Nov. 30, 1990.
 Revenues were $5,811,000 for the three months ended Nov. 29, 1991, compared to $5,021,000 for the three months ended Nov. 30, 1990. The company has two wholly owned subsidiaries, Wegener Communications, Inc. (WCI) and Telecrafter Services Corporation (TSC). WCI's revenues were $4,016,000 for the first quarter of fiscal 1992 compared to $3,689,000 for the first quarter of fiscal 1991. TSC's revenues were $1,795,000 for the first quarter of fiscal 1992 compared to $1,332,000 for the first quarter of fiscal 1991.
 WCI's revenue increase in the first quarter of fiscal 1992 reflects an 11.0 percent and 7.5 percent increase in revenues of the Direct Broadcast Satellite (DBS) product line and the Telecom product line. These increases are primarily due to increased shipments to the business music and data broadcasting industries. WCI's backlog was approximately $6,328,000 as of Nov. 29, 1991, compared to $7,029,000 as of Aug. 30, 1991, and $4,722,000 as of Nov. 30, 1990.
 TSC's revenue increase in the first quarter of fiscal 1992 is due to increased business in the cable television industry. However, this market is still experiencing a slowdown which is expected to continue in fiscal 1992.
 The improvement in the first quarter operating results is due primarily to higher revenues and improved gross profit margins. The company's gross margin was 38.0 percent for the three-month period ended Nov. 29, 1991, compared to 25.5 percent for the three-month period ended Nov. 30, 1990. This increase is due to improved margins at WCI. WCI's gross margin was 35.0 percent for the three-month period ended Nov. 29, 1991, compared to 20.0 percent for the same period in fiscal 1991. This improvement is due primarily to lower overhead costs, product mix, and improved manufacturing efficiencies. TSC's gross margin was 44.9 percent for the three-month period ended Nov. 29, 1991, compared to 40.6 percent for the same period in fiscal 1991. This improvement is a result of the increase in TSC revenues previously discussed.
 In the first quarter, WCI continued to make progress in the business music marketplace. Muzak placed a major order for the new Series 1900 receivers. An order was also received from Funktionelle Musik GmbH in Germany for Wegener's Addressable Network Control System (ANCS) and Series 1900 receivers. Broadcast International, a leading domestic provider of music and in-store advertising services, has issued a letter of intent to WCI for development of modified Series receivers for their network.
 In a separate development, WCI is in the process of executing a Memorandum of Understanding with General Instrument VideoCipher Division to pursue a licensing agreement to integrate GI's new DigiCipher(R) video compression technology with Wegener's ANCS system for application in the cable television and business video network markets. Conclusion of this agreement and the successful development and marketing of resultant products could have significant impact on WCI's future revenues.
 Wegener Corporation, through its wholly owned subsidiaries, designs and manufactures equipment for the business broadcast, data communications, and broadcast radio and television industries. It is also a major supplier of both products and services to the cable television industry.
 WEGENER CORPORATION AND SUBSIDIARIES
 Summarized Statements of Operations Data
 (in $000s except for per-share amounts)
 (Unaudited)
 3 mos. ended 11/29/91 11/30/90
 Revenues $ 5,811 $ 5,021
 Net earnings (loss) $ 9 $ (472)
 Net earnings (loss) per share $ 0.00 $ (0.07)
 Wtd. avg. no. of shares outstanding 7,343 7,214
 -0- 1/21/92
 /CONTACT: C. Troy Woodbury Jr., treasurer and chief financial officer of Wegener Corporation, 404-623-0096/
 (WGNR) CO: Wegener Corporation ST: Georgia IN: CPR SU: ERN


BN-BR -- AT011 -- 1937 01/21/92 14:30 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 21, 1992
Words:681
Previous Article:BRISTOL-MYERS SQUIBB APPOINTS WESLEY M. THOMPSON PRESIDENT OF BRISTOL-MEYERS INTERNATIONAL
Next Article:BRISTOL-MYERS SQUIBB APPOINTS FOTIADES PRESIDENT OF JAPAN DIVISION
Topics:


Related Articles
WEGENER CORPORATION ANNOUNCES THIRD QUARTER RESULTS
WEGENER CORPORATION ANNOUNCES FIRST QUARTER RESULTS
WEGENER CORPORATION ANNOUNCES FIRST QUARTER RESULTS -- BACKLOG UP --
WEGENER CORPORATION ANNOUNCES FIRST QUARTER RESULTS; BACKLOG UP TO $25 MILLION
WEGENER CORPORATION ANNOUNCES FIRST QUARTER RESULTS; BACKLOG UP TO $31 MILLION
WEGENER CORPORATION ANNOUNCES STRONG SECOND QUARTER
Wegener Corporation Reports Fiscal First Quarter Results; Pace of New Order Bookings Increasing
Wegener Corporation Reports Improved Third Fiscal Quarter Results - Posts $0.08 Per Share on Revenues of $9.9 Million for Third Quarter -
Wegener Corporation Reports Results For First Quarter of Fiscal 1999.
Wegener Corporation Reports Results for First Quarter of Fiscal 2000.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters