Wegener Reports Preliminary Results for Q4 and Full 2010 Fiscal Year

Posted by Joe Zaller
Sep 23 2010

Wegener today announced preliminary operating results for its Q4 and full year 2010.

For the 4th quarter, the company lost of approximately $(336,000) on revenue of approximately $2.6m.  During the same period a year ago, the company lost $(538,000) on revenue of $2.9m.  Order intake (bookings) for the quarter was up slightly to approximately $1.4m versus $1.3m a year ago.

For the full year, the company lost approximately $(2.3)m on revenue of approximately $9.0m, compared to a net loss of $2.6m on revenues of $12.7m in fiscal 2009. Order intake (bookings) for the year was $8.4m, a 53% increase over the order intake in 2009.

The company also reported that its 18-month backlog was approximately $6.0m as of September 3, 2010, compared to $4.3m on August 28, 2009, and that its total multi-year backlog at September 3, 2010, was approximately $6.1m compared to $6.8m at August 28, 2009.

Company President and CEO Troy Woodbury said that while the company’s bookings and revenue performance in the fourth quarter fell short because of delayed orders, he remains optimistic.  “While I am pleased with the increase in bookings there is significant room for improvement,” he said. Our fourth quarter revenue was the highest of the quarters in fiscal 2010. We came very close to achieving our goal of breakeven revenue and would have, had several orders not been delayed.”

You can read the full Wegener preliminary results press release here.

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