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WEGENER CORPORATION REPORTS RESULTS FOR FIRST QUARTER
OF FISCAL 1999 Duluth, GA - January 8, 1999 - Wegener Corporation (NASDAQ: WGNR), today announced results for the first quarter of fiscal 1999, ended November 27, 1998. Wegener's revenues for the first quarter of fiscal 1999 were $6,466,000, with earnings of $231,000 or $0.02 per share. The Company's eighteen month order backlog was $11.6 million as of November 27, 1998. The above results compare with first quarter fiscal 1998 revenues of $6,706,000 with earnings of $0.02 per share. "This is the fifth profitable quarter in a row for the Company", stated Wegener Chairman and CEO, Robert A. Placek."While the nature of our business is that fiscal quarter revenues may be uneven, we continue to see growth over the long term. We look forward to greater revenues in the second quarter. All indications are that we will enjoy another profitable year." Wegener Communications President, Keith N. Smith added, "We have seen the beginning of the strength of the new UNITY digital product line for radio with over $4 million in recent orders coming from the radio industry. We are maintaining focus on the opportunities in business, and cable and broadcast television for UNITY digital products. Our efforts to move the Company toward greater efficiency are bearing fruit, enabling us to enjoy more consistent profitability."
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Wegener Communications introduced the UNITY401 receiver for private network distribution. The UNITY401 provides DVB compliant MPEG-2 digital video operating in either SCPC or MCPC modes from 2.5 to 50 MB, as well as audio and data in one unit.
AEI Soundcom selected Wegener digital audio equipment for satellite delivered business music in Australia. AEI Soundcom, recently acquired by AEI Music Network of Seattle, WA, is utilizing Wegener DT96 and DR95 MPEG-2 digital audio products for upgrading its tape-delivered business music services to satellite delivery in Australia. Wegener has now become the selected vendor for all AEI Soundcom music distribution within Australia. ASCENT Network Services placed additional orders for Wegener digital video equipment to be used by NBC News Channel for their Satellite News Gathering operations. NBC News Channel also utilizes COMPEL control, Wegener's patented network control system. Broadcast International (BI) placed add-on orders for Wegener digital audio receivers. Broadcast International utilizes Wegener's digital audio products for the distribution of music and advertising for their retail customers, primarily supermarkets and drug stores throughout the United States. Wegener Communications continued efforts to build South American market share. Impsat, a multinational internet, and satellite based service provider, purchased Wegener's QPSK digital audio equipment to expand their satellite delivered audio services offered to Argentine clients. In Brazil, Radio Transcontinental purchased Wegener digital audio equipment for expansion of their radio network services. Savana Comunicacoes LTDA, Brazil, a distributor of Wegener products, purchased digital video equipment for its DSNG customers. Savana's purchases mark the introduction of the UNITY product line into Brazil. |
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ABOUT WEGENER COMMUNICATIONS
Wegener Corporation (NASDAQ: WGNR) based in Duluth, Georgia, through its wholly-owned subsidiaries, is a market leader in analog and digital compression technology, designs and manufactures communications transmission and receiving equipment for the business broadcast, data communications, cable and broadcast radio and television industries for worldwide markets. For further information: info@wegener.com
Summarized Operations Data Three Months Ended For further information, please contact: Sally Campbell Statements about the Wegener Corporation's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. 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 or inferred results. |
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voice 770 814-4000 fax 770 623-0698 email: info@wegener.com |
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©1999 Wegener Communications |
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