Disappointing 4Q for Wegener

Author:
Publish date:

Wegener Corp.’s fourth-quarter financial results came up short of expectations, the company said Tuesday.

Revenues for the satellite-transmission-solutions vendor in its fiscal fourth quarter ended Aug. 29 were $4.7 million, down from $5.3 million in the year-earlier period.

Fourth-quarter net income was $218,000, or 2 cents per share, versus $40,000 (under 1 cent) in fourth-quarter 2002.

Fiscal-year-2003 revenues were $20.1 million with net earnings of $88,000, or less than 1 cent per share, compared with fiscal-year-2002 revenues of $23.5 million and net earnings of $808,000 (7 cents).

Related