Losses Continue at Wegener in Q3 2011

Posted by Joe Zaller
Jul 18 2011

Wegener Corporation announced final operating results for the third quarter of fiscal 2011, which ended June 3, 2011. The company posted a net loss of $503,000 on revenue of $2.2m for the quarter, compared to revenues of $2.1m and a net loss of $487,000 for the same period in fiscal 2010.

For the nine months ended June 3, 2011, Wegener lost $1.5m on revenue of $6.6m, compared to a lost of $2m on revenue of $6.3m for the same period last year.

The company said its 18 month order backlog at the end of the quarter was approximately $5.2m, down from $6.5m last year.

“Our bookings performance through the third quarter has been disappointing and we expect an operating loss for the fourth quarter of this fiscal year,” said company president and CEO Troy Woodbury. “Several key orders did not solidify in fiscal 2011, but we have continued to aggressively pursue them. We are optimistic that those orders will book in coming quarters. Our third quarter bookings, revenues, and operating results were a significant improvement over the second quarter of this year. That improvement, and the  continued progress we are making on the domestic and international opportunities before us, are very encouraging as we continue our efforts to improve Wegener’s performance.”

 

Related Content:

Wegener Press Release: Wegener Corporation Reports Final Results For Third Quarter Fiscal Year 2011

Wegener Q3 2011 earnings conference call transcript

Q2 Results: Wegener Losses Widen, CEO Disappointed

Previous Year Results

 

Comments are closed.

%d bloggers like this: