|
WEGENER CORPORATION REPORTS RESULTS FOR FIRST QUARTER OF FISCAL 2000
Duluth, GA December 21, 1999 Wegener Corporation (NASDAQ: WGNR), today announced results for the first quarter of fiscal 2000, ended December 3, 1999. Wegener's revenues for the first quarter of fiscal 2000 were $7,015,000, with earnings of $72,000 or less than one cent per share. The above results compare with first quarter fiscal 1999 revenues of $6,466,000 with earnings of $0.02 per share. First quarter fiscal 2000 revenues also represent a 49 per cent increase over the previous fiscal quarter (fourth quarter fiscal 1999). The Company's eighteen month order backlog was $12.5 million as of December 3, 1999, compared to $11.6 million for the first quarter of fiscal 1999. The Company continues to have a strong cash position of over $8 million. Commenting on the results for the first quarter of fiscal 2000, Mr. Robert A. Placek, Chairman and CEO of Wegener Corporation said, "We are pleased with our first quarter revenue performance compared to the same quarter of fiscal 1999. Earnings came under pressure due to higher R&D costs supporting new product development. In addition, the company experienced higher selling expenses in the quarter as part of successful efforts in building international market share. Our backlog continues to be strong, putting us in a favorable position for the remainder of fiscal 2000." Wegener Communications President, Keith N. Smith adds, "Prospects for the coming quarters are bright. Our R&D investments have created new products that position us well for emerging opportunities. ENVOY, the integrated video encoder and modulator will be in full production in the second quarter. The new UNITY IP product line has been receiving a lot of interest for distributing IP and data content over satellite and bypassing the crowded terrestrial infrastructure." "Recent regulatory changes are creating a channel expansion in satellite delivery of local broadcast signals," continues Smith. "This expansion creates additional opportunities for companies such as ours. We clearly have the products to satisfy these needs and are aggressively pursuing them." FIRST QUARTER HIGHLIGHTS INCLUDED: |
|||||||||
| Wegener Communications strengthened its management team with the addition of Paul A. Harr as Vice President of Marketing. Mr. Harr is responsible for directing all of Wegener's marketing and strategic planning efforts.
Significant Orders Received During First Quarter FY2000: CONUS Communications ordered UNITY4422 IRDís (Integrated Receiver Decoders) plus COMPEL Network Control with COMPELïCA encryption. The UNITY4422 IRDs will be used to distribute high quality 4:2:2 profile video feeds to CONUS member stations. ASCENT Network Services, a division of ASCENT Entertainment Group, Inc. (NASDAQ: GOAL) ordered digital video products to upgrade DSNG DSNG (Digital Satellite News Gathering) vehicles and NBC affiliate stations for NBC News. This is a continuation of NBC New Channelís announced commitment to both Wegener digital video products and ASCENT network support services. Christian Communications of Chicagoland, Inc. ordered Wegener digital video products, COMPEL Network Control and a DiviCom (NASDAQ: CUBE) MCPC (Multiple Channels Per Carrier) digital video system. This equipment will be used to distribute programming for The Total Living Network (TLN). Foundation Telecommunications, Inc. placed multiple orders for Wegener DVR296 digital video receivers for distance learning applications. |
|||||||||
![]() |
|||||||||
|
ABOUT WEGENER COMMUNICATIONS
Wegener Corporation (NASDAQ: WGNR), based in Duluth, Georgia, through its wholly-owned subsidiaries, is an international provider of digital solutions for IP data, video and audio and broadcast data networks. Applications include IP data delivery, broadcast television, cable television, radio networks, business television, distance education, business music, satellite paging and financial information distribution. COMPEL, Wegener's patented network control system, provides networks with unparalleled ability to regionalize programming and commercials through total receiver control. COMPEL network control capability is integrated into Wegener digital satellite receivers. Wegener Communications can be reached at +1.770.814.4000 or on the World Wide Web at www.wegener.com. C. Troy Woodbury, Jr. COMPEL, ENVOY, UNITY and UNITYIP are trademarks of Wegener Communications, Inc. All Rights Reserved. This news release contains statements which may be forward looking within the meaning of applicable securities laws, including the Private Securities Litigation Reform of 1995. The statements may include projections regarding future sales results, expected contributions to margins and earnings and market opportunities, and 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 UNITY digital video products, development of additional business for the Wegener digital and analog video and audio transmission product lines, effectiveness of the revitalized international sales organization and the successful development and introduction of new products in the future. The Company intends that such forward-looking statements are 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. |
|||||||||
|
voice 770 814-4000 fax 770 623-0698 email: info@wegener.com |
|||||||||
|
©1999 Wegener Communications |
|||||||||