Wireless Telecom Group Announces Fourth Quarter and Year-End 2012 Financial Results Including Quarterly Revenue Growth of 14% and Net Income Growth of 40%

PARSIPPANY, N.J.–(BUSINESS WIRE)– Wireless Telecom Group, Inc. (NYSE MKT: WTT) announced today results for the fourth quarter and twelve months ended December 31, 2012.

For the quarter ended December 31, 2012, the Company reported net sales of $8,216,000, compared to $7,209,000 for the same period in 2011, an increase of 14.0%.

The Company also reported net income of $1,005,000, or $0.04 per diluted share for the fourth quarter of 2012, compared to net income of $716,000, or $0.03 per diluted share, for the fourth quarter of 2011, an increase of 40.4%.

For the twelve months ended December 31, 2012, the Company reported net sales of $29,595,000, compared to $26,823,000 for the same period in 2011, an increase of 10.3%.

The Company also reported net income of $3,171,000, or $0.13 per diluted share for the twelve months ended 2012, compared to net income of $2,430,000, or $0.10 per diluted share, for the same period of 2011, an increase of 30.5%.

Paul Genova, CEO of Wireless Telecom Group, Inc. stated, “We are pleased by each of our segments’ contribution to our 2012 consolidated revenue and net income. The Company experienced increasing demand throughout 2012 for its Network Solutions products, particularly for applications found in Distributed Antenna Systems. Also, during 2012, our Test & Measurement segment successfully completed delivery of its Peak Power Meters in fulfillment of our $3,000,000 order with the U.S. Navy.”

Genova commented, “By continuing to focus on each of these segments and their related markets, combined with ongoing strategic cost reduction and resource allocation efforts, we believe the Company is well positioned for further improvements in revenue, net income, return on capital and utilization of working capital.”

Genova continued, “During 2012, we were able to effectively utilize our cash reserves through the repurchase of 635,630 shares of our common stock at an average price per share of $1.22. Including the effect of the share repurchases, we were able to increase cash and equivalents from $12,089,782 to $12,969,513. Even more significantly, we were able to achieve an increase in book value per share by 10% from $1.36 to $1.50. We will continue to …read more
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