Technology

Wegener Wraps Fiscal Year

11/30/2006 8:08 AM Eastern

Wegener reported its financial results for its fourth quarter and fiscal year ended Sept. 1.

The provider of products for television, audio and data distribution networks posted revenue of $4.2 million for the quarter versus $4.9 million in the year-earlier period. For the full fiscal year, Wegener’s revenue was $20.4 million, down from $21.9 million in the previous year.

The company’s fourth-quarter net loss was $1.277 million, or $0.10 per share, compared with $5.292 million ($0.42) in the previous-year period. For the full year, its net loss was $2.833 million ($0.23), down from $5.671 million ($0.45) in the prior year.

Wegener said it recorded a noncash income-tax charge of $4.71 million during the fourth quarter of fiscal-year 2005.

“We are extremely focused on completing our first round of MPEG-4 products to take advantage of the strong market demand in 2007 and beyond,” Wegener chairman and CEO Robert Placek said in a prepared statement.

Want to read more stories like this?
Get our Free Newsletter Here!
August
October