Westell Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 09, 2023
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Westell Technologies, Inc. reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was USD 14.3 million compared to USD 11.2 million a year ago. Net income was USD 1.13 million compared to USD 2.19 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 0.19 a year ago. Basic earnings per share was USD 0.1 compared to USD 0.2 a year ago. Diluted earnings per share was USD 0.1 compared to USD 0.19 a year ago.
For the nine months, sales was USD 36.47 million compared to USD 28.46 million a year ago. Net income was USD 3.43 million compared to USD 4.15 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 0.35 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to USD 0.34 a year ago. Basic earnings per share was USD 0.3 compared to USD 0.37 a year ago. Diluted earnings per share was USD 0.29 compared to USD 0.37 a year ago.
Westell Technologies, Inc. is a holding company, which conducts business through its subsidiary, Westell, Inc. (Westell). Westell designs, manufactures and distributes telecommunications solutions, which are sold to telephone companies. The Company's segments include In-Building Wireless (IBW), Intelligent Site Management (ISM), and Communications Network Solutions (CNS). The IBW segment solutions enable public safety and cellular coverage in stadiums, arenas, malls, buildings, and other indoor areas not served well by the existing outdoor radio network. The ISM segment solutions include a suite of remote units, which provide machine-to-machine communications that enable operators to remotely monitor, manage, and control physical site infrastructure and support systems. The CNS segment solutions include a range of hardened network infrastructure offerings suitable for both indoor and outdoor use. The offerings consist of integrated cabinets, power distribution products and others.