Wegener Reports Profitable 3Q

Author:
Updated:
Original:

Distribution technology provider Wegener announced revenues for the third quarter of its fiscal-year 2007 of $6.2 million compared with $6.6 million for the same period last year.

Revenues for the first nine months of fiscal 2007 were $15.8 million versus $16.2 million for the same period in fiscal-year 2006.

Net earnings for the three months ending June 1 were $251,000, or $0.02 per share, compared with $138,000 ($0.01) for the three months ended June 2, 2006.

Net loss for the first nine months of fiscal 2007, was $895,000, or $0.07 per share, versus $1.606 million ($0.13) for the first nine months of fiscal 2006.

The company reported that bookings for the third quarter of 2007 were $4.7 million compared with $2.7 million for the third quarter of 2006. That brings bookings for the first nine months of fiscal-year 2007 to $10.5 million versus $17.9 million for the first nine months of fiscal-year 2006.

“We are pleased to report a profitable third quarter, along with a significant increase in bookings over the prior quarter,” CEO Robert Placek said in a prepared statement. “We still need further improvement in bookings to generate sustained profitability, and we continue to refine our sales and marketing efforts toward that goal.”

“We are pleased to further strengthen our relationship with Fox through the recently announced fourth-quarter order for satellite distribution of the new Big Ten Network,” president Ned L. Mountain said in a prepared statement. “Growing our customer base with new customers such as SSL, while upgrading and expanding existing customers' networks, will help us to continue to improve our bookings level.”

Related