![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wegener Corp (PK) | USOTC:WGNR | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.016 | 0.0136 | 0.0298 | 0.00 | 12:34:33 |
Wegener Corporation (OTCQB: WGNR.PK), a leading provider of products for television, audio and data distribution networks worldwide, today announced operating results for the first quarter of fiscal 2011, which ended December 3, 2010.
Operating results for the first quarter of fiscal 2011 were revenues of approximately $3.0 million and a net loss of approximately $(26,000) or less than $(0.01) per share compared to revenues of $1.9 million and a net loss of $(990,000) or $(0.08) per share for the same period in fiscal 2010.
Wegener Corporation’s eighteen-month backlog was approximately $6.3 million at December 3, 2010, compared to $4.2 million at November 27, 2009. The total multi-year backlog at December 3, 2010, was approximately $6.3 million compared to $6.6 million at November 27, 2009. Bookings for the first quarter of fiscal 2011 were approximately $3.2 million compared to $1.8 million for the same period in fiscal 2010.
“We are determined to provide quality products, build strategic alliances with our customers, both existing and new, and serve the needs of our shareholders,” stated Troy Woodbury, President and CEO of Wegener Corporation. “We have many strong opportunities domestically and internationally and I am committed to helping our team convert these opportunities into successful bookings.
“The improvement in bookings that we saw in fiscal 2010 has continued into fiscal 2011. Our fiscal 2011 first quarter booking and revenue performance exceeded each of the quarters of fiscal 2010, and the first quarter operating loss was less than any of the quarters in fiscal 2010. While the direction of this trend has provided our team with a strong incentive, significant shippable bookings are required for the second quarter and the remainder of fiscal 2011. As is the nature of our business, should any of the significant orders currently targeted for the second quarter not close on a timely basis, we would have an operating loss for the quarter.
“Our Compensation and Incentive Plan Committee of our Board of Directors has recently granted 1,163,700 shares in stock options and restricted stock to senior executives, all other employees, and members of the Board pursuant to our 2010 Incentive Plan. The Committee feels strongly that the interests of our senior executives, all other employees, and board members should be closely aligned to those of our shareholders. We believe this grant will motivate and reward the efforts of the entire company as we work to improve WEGENER during this time of rebuilding.”
Wegener Corporation will host a conference call on Monday, January 17, 2011, at 4:15 PM Eastern Time to discuss its financial results. To join the conference call, dial 800.638.5495, or 617.614.3946 for international dial in, and enter participant code 76640112. Wegener Corporation intends to discuss financial and other operational information on this conference call. In addition, this call is being webcast by Thomson/CCBN and can be accessed from the Company’s website at www.wegener.com. It will be archived on WEGENER’s website at www.wegener.com and the replay will be available within one hour after the conference call.
ABOUT WEGENER
WEGENER® (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (OTCQB: WGNR.PK), is an international provider of digital video and audio solutions for broadcast television, radio, telco, private and cable networks. With over 30 years experience in optimizing point-to-multipoint multimedia distribution over satellite, fiber, and IP networks, WEGENER offers a comprehensive product line that handles the scheduling, management and delivery of media rich content to multiple devices, including video screens, computers and audio devices. WEGENER focuses on long- and short-term strategies for bandwidth savings, dynamic advertising, live events and affiliate management.
WEGENER’s product line includes: iPump® media servers for file-based and live broadcasts; COMPEL® Network Control and COMPEL® Conditional Access for dynamic command, monitoring and addressing of multi-site video, audio, and data networks; and the Unity® satellite media receivers for live radio and video broadcasts. Applications served include: digital signage, linear and file-based TV distribution, linear and file-based radio distribution, Nielsen rating information, broadcast news distribution, business music distribution, corporate communications, video and audio simulcasts.
WEGENER® can be reached at (770) 814-4000 or at www.wegener.com.
WEGENER, COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY, ASSURED FILE DELIVERY, PANDA, PROSWITCH, VIDATA, the stylized W-design logo (for WEGENER®), the stylized C-design logo (for Compel®) and the stylized PANDA design logo are all registered trademarks of WEGENER®. All Rights Reserved.
This news release may contain forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, and the Company intends that such forward-looking statements are subject to the safe harbors created thereby. Forward-looking statements may be identified by words such as "believes," "expects," "projects," "plans," "anticipates," and similar expressions, and include, for example, statements relating to expectations regarding future sales, income and cash flows. Forward-looking statements are based upon the Company’s current expectations and assumptions, which are subject to a number of risks and uncertainties including, but not limited to: customer acceptance and effectiveness of recently introduced products, development of additional business for the Company’s digital video and audio transmission product lines, effectiveness of the sales organization, the successful development and introduction of new products in the future, delays in the conversion by private and broadcast networks to next generation digital broadcast equipment, acceptance by various networks of standards for digital broadcasting, the Company’s liquidity position and capital resources, general market conditions which may not improve during fiscal year 2011 and beyond, and success of the Company’s research and development efforts aimed at developing new products. Discussion of these and other risks and uncertainties are provided in detail in the Company’s periodic filings with the SEC, including the Company’s most recent Annual Report on Form 10-K. Since these statements involve risks and uncertainties and are subject to change at any time, the Company’s actual results could differ materially from expected results. Forward-looking statements speak only as of the date the statement was made. The Company does not undertake any obligation to update any forward-looking statements.
WEGENER CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in $000's except share data) December 3, September 3, 2010 2010 (Unaudited) Assets Current assets Cash $ 164 $ 231 Accounts receivable, net 2,536 1,634 Inventories, net 2,077 3,145 Other 173 235 Total current assets 4,950 5,245 Property and equipment, net 1,569 1,618 Capitalized software costs, net 1,262 1,263 Other assets 225 235 Total assets $ 8,006 $ 8,361 Liabilities and Capital Deficit Current liabilities Line of credit-related party $ 3,800 $ 3,850 Accounts payable 1,723 2,142 Accrued expenses 1,959 1,732 Deferred revenue 450 529 Customer deposits 232 240 Total current liabilities 8,164 8,493 Commitments and contingencies Capital deficitCommon stock, $.01 par value; 30,000,000 shares authorized; 12,647,051 shares issued and outstanding
126 127 Additional paid-in capital 20,007 20,006 Accumulated deficit (20,291 ) (20,265 ) Total capital deficit (158 ) (132 ) Total liabilities and capital deficit $ 8,006 $ 8,361 WEGENER CORPORATION AND SUBSIDIARY Summarized Operations Data (in $000's except per share amounts) (Unaudited) Three Months Ended December 3, November 27, 2010 2009 Revenues, net $ 2,970 $ 1,918 Net loss $ (26 ) $ (990 ) Net loss per share Basic and diluted$
*
$ (0.08 ) Shares used in per share calculation Basic and diluted 12,647 12,647 * Less than $(0.01) per share
1 Year Wegener (PK) Chart |
1 Month Wegener (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions