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WEGENER CORPORATION REPORTS RESULTS FOR THIRD QUARTER OF FISCAL 2001
June 26, 2001 - Duluth, GA - Wegener Corporation (Nasdaq: WGNR), today announced results for the third quarter of fiscal 2001. Wegener's revenues for the third quarter of fiscal 2001 increased 17% to $5.4 million, compared with $4.6 million for the third fiscal quarter of 2000. The net loss for the quarter was $436,000 or $(0.04) per share compared with a loss of $191,000 or $(0.02) per share. The Company has significantly increased its backlog for products to be shipped in fiscal year 2002, setting the stage for improved revenue growth in the coming year. The backlog for the next 18-month period was $21.3 million as of June 1, 2001. This represents an increase of 86.8% in the backlog compared to $11.4 million in the third quarter of fiscal 2000. The Company foresees both increased revenues and improved operating results in the current fiscal fourth quarter. "The uptick in revenues for the quarter indicates that our expanding backlog is positively impacting top-line growth," said Robert A. Placek chairman and chief executive officer of Wegener Corporation. "Broadcast and private networks continue to have an expanded need to digitally transmit mission-critical information. Wegener is now better positioned with appropriate products at the appropriate price-points to meet the needs of this market. Our focus on research and development has yielded products that we believe will continue to expand our backlog and increase revenues going forward." "As evidenced by several contract announcements during the quarter, our pipeline of sales, particularly private network sales, has strengthened substantially," said Keith N. Smith, president of Wegener Communications. "We continue to improve our product offerings in anticipation of renewed buying by cable and broadcast customers. In the interim, Wegener products are enjoying sales growth to private networks." Wegener Communications is an international provider of digital solutions for IP data, video and audio 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. |
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| For further information, please contact: C. Troy Woodbury, Jr. Chief Financial Officer Wegener Corporation (770) 814-4000 www.wegener.com RCG Capital Markets Group, Inc., (480) 675-0400 Retail: Jim Estrada, Brett Maas Institutional/Analysts: Joe Diaz, Joe Dorame Media: Jeff Stanlis www.rcgonline.com Email: info@wegener.com World Wide Web: www.wegener.com COMPEL, ENVOY, UNITY, UNITY-IP and iPUMP 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. |
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voice 770 814-4000 fax 770 623-0698 email: info@wegener.com |
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©2000 Wegener Communications |
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