(2012-04-19) - Johns Creek, Georgia - Wegener Corporation
(OTCQB: WGNR.PK), a leading provider of products for
television, audio and data distribution networks worldwide,
today announced final operating results for the second
quarter of fiscal 2012, which ended March 2, 2012.
Operating results for the second quarter of fiscal 2012 were
revenues of approximately $2.4 million and a net loss of
approximately $(364,000) or $(0.03) per share compared to
revenues of $1.4 million and a net loss of approximately
$(971,000) or $(0.07) per share for the same period in fiscal
2011. The operating results for the six months ended March 2,
2012, were revenues of $3.8 million and a net loss of
approximately $(1.2) million or $(0.09) per share compared to
revenues of $4.4 million and a loss of approximately
$(996,000) or $(0.08) per share for the same period ended
March 4, 2011.
Wegener Corporation's eighteen-month and total multi-year
backlog was approximately $ 2.6 million at March 2, 2012,
compared to $5.9 million at March 4, 2011. Bookings for the
second quarter and the first six months of fiscal 2012 were
approximately $987,000 and $1.9 million compared to $677,000
and $3.9 million for the same periods in fiscal 2011.
"Although the second quarter results were an improvement over
the first quarter, we certainly are not satisfied or even
pleased with our bookings and operating performance in the
second quarter of fiscal 2012," stated Troy Woodbury,
President and CEO of Wegener Corporation.
"There has been a recent realignment of territory
responsibilities in our sales department. We are reviewing
our world-wide sales coverage and will add additional staff
as possible. While our current forecast indicates that
significant bookings are still required for the remainder of
this fiscal year and that we will likely have an operating
loss for this current third quarter, we are pleased by the
acceptance of our products in the digital signage and
broadcast markets and are encouraged by the business
opportunities we are seeing."
Wegener Corporation will host a conference call on Monday,
April 23, 2012, at 4:15 PM Eastern Time to discuss its
financial results. To join the conference call, dial
800.591.6942 or 617.614.4909 for international dial in, and
enter participant code 63178413. 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 is on Twitter. Sign up to follow @WEGENER at
http://twitter.com/wegener.
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 2012 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.
______________________________________
INVESTOR RELATIONS CONTACT:
Jim Traicoff - CFO
Wegener Corporation
(770) 814-4000
FAX (770) 623-9648
info@wegener.com
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