Wegener Reports Q3 Results, Losses Continue

Posted by Joe Zaller
Jun 15 2011

Wegener Corporation announced that its revenue for the third quarter of fiscal 2011 was approximately $2.2m, down 5% versus the same period last year.  The company posted a net loss of $503,000 for the quarter, compared to a net loss of $487,000 during the third quarter last year.

For the first nine months of the company’s fiscal, Wegener had posted a net loss of $1.6m on revenues of $6.6m, compared to a net loss of $2m on revenues of $6.3m for the same period in fiscal 2010.

Bookings for the third quarter and the first nine months of fiscal 2011 were approximately $1.6m and $5.5m respectively, compared to $3m and $6.9m respectively for the same periods in fiscal 2010.

“We are encouraged by the approximately 55% improvement in our third quarter revenues and the approximately 48% reduction in our third quarter net loss compared to the second quarter of this year and are continuing efforts to improve Wegener’s performance,” stated Troy Woodbury, President and CEO of Wegener Corporation. “Momentum that began to build last fiscal year has not been lost as we have significant domestic and international opportunities before us. We are making progress and remain committed to Wegener’s success.”

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