(2012-07-18) - Johns Creek, Georgia - Wegener Corporation
(OTCQB: WGNR.PK), a leading provider of products for
television, audio and data distribution networks worldwide,
today announced final operating results for the third quarter
of fiscal 2012, which ended June 1, 2012.
Operating results for the third quarter of fiscal 2012 were
revenues of approximately $1.9 million and a net loss of
approximately $(1.1) million or $(0.09) per share compared to
revenues of $2.2 million and a net loss of approximately
$(503,000) or $(0.04) per share for the same period in fiscal
2011. The operating results for the nine months ended June 1,
2012, were revenues of approximately $5.7 million and a net
loss of approximately $(2.3) million or $(0.18) per share
compared to revenues of $6.6 million and a net loss of
approximately $(1.5) million or $(0.12) per share for the
same period ended June 3, 2011.
Wegener Corporation's eighteen-month and total multi-year
backlog was approximately $1.8 million at June 1, 2012,
compared to $5.2 million at June 3, 2011. Bookings for the
third quarter and the first nine months of fiscal 2012 were
approximately $947,000 and $2.8 million compared to $1.6
million and $5.5 million for the same periods in fiscal
2011.
"I continue to be very disappointed with our bookings and
operating results. While I do believe there are significant
future opportunities for Wegener, I know that we still have
some difficult quarters ahead of us. We are projecting an
operating loss for the fourth quarter of this fiscal 2012,
which ends on August 31, 2012. We are focused on obtaining
additional working capital which we require to proceed ahead
effectively," stated Troy Woodbury, President and CEO of
Wegener Corporation.
Wegener Corporation will host a conference call on Wednesday,
July 18, 2012, at 2:00 PM EDT to discuss its financial
results. To join the conference call, dial 800.510.9691or
617.614.3453 for international dial in, and enter participant
code 57872484. Wegener Corporation intends to discuss
financial and other operational information on this
conference call. In addition, this call is being webcast by
Thomson/CCBN and can be accessed from the following website
at http://www.media-server.com/m/p/9k5yqqz3. It will be
archived on WEGENER's website at www.wegener.com and the
replay will be available within one hour after the conference
call.
ABOUT WEGENER
WEGENER® (Wegener Communications, Inc.), a wholly-owned
subsidiary of Wegener Corporation (OTCQB: WGNR.PK), is an
international provider of digital video and audio solutions
for broadcast television, radio, telco, private and cable
networks. With over 30 years experience in optimizing
point-to-multipoint multimedia distribution over satellite,
fiber, and IP networks, WEGENER offers a comprehensive
product line that handles the scheduling, management and
delivery of media rich content to multiple devices, including
video screens, computers and audio devices. WEGENER focuses
on long- and short-term strategies for bandwidth savings,
dynamic advertising, live events and affiliate
management.
WEGENER's product line includes: iPump® media servers for
file-based and live broadcasts; COMPEL® Network Control and
COMPEL® Conditional Access for dynamic command, monitoring
and addressing of multi-site video, audio, and data networks;
and the Unity® satellite media receivers for live radio and
video broadcasts. Applications served include: digital
signage, linear and file-based TV distribution, linear and
file-based radio distribution, Nielsen rating information,
broadcast news distribution, business music distribution,
corporate communications, video and audio simulcasts.
WEGENER® can be reached at (770) 814-4000 or at
www.wegener.com.
WEGENER is on Twitter. Sign up to follow @WEGENER at
http://twitter.com/wegener.
WEGENER, COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY,
ASSURED FILE DELIVERY, PANDA, PROSWITCH, VIDATA, the stylized
W-design logo (for WEGENER®), the stylized C-design logo (for
Compel®) and the stylized PANDA design logo are all
registered trademarks of WEGENER®. All Rights Reserved.
This news release may contain forward-looking statements
within the meaning of applicable securities laws, including
the Private Securities Litigation Reform Act of 1995, and the
Company intends that such forward-looking statements are
subject to the safe harbors created thereby. Forward-looking
statements may be identified by words such as
"believes," "expects,"
"projects," "plans,"
"anticipates," and similar expressions, and
include, for example, statements relating to expectations
regarding future sales, income and cash flows.
Forward-looking statements 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 products, development of additional business for
the Company's digital video and audio transmission product
lines, effectiveness of the sales organization, the
successful development and introduction of new products in
the future, delays in the conversion by private and broadcast
networks to next generation digital broadcast equipment,
acceptance by various networks of standards for digital
broadcasting, the Company's liquidity position and capital
resources, general market conditions which may not improve
during fiscal year 2012 and beyond, and success of the
Company's research and development efforts aimed at
developing new products. Discussion of these and other risks
and uncertainties are provided in detail in the Company's
periodic filings with the SEC, including the Company's most
recent Annual Report on Form 10-K. 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 results. Forward-looking statements
speak only as of the date the statement was made. The Company
does not undertake any obligation to update any
forward-looking statements.
______________________________________
INVESTOR RELATIONS CONTACT:
Jim Traicoff - CFO
Wegener Corporation
(770) 814-4000
FAX (770) 623-9648
info@wegener.com
_______________________________________
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