糖心vlog下载

糖心vlog下载 Reports Fiscal 2020 Third Quarter Results

AURORA, ll., Feb. 05, 2020 (GLOBE NEWSWIRE) -- (NASDAQ: WSTL), a leading provider of high-performance network infrastructure solutions, today announced results for its fiscal 2020 third quarter ended December听31, 2019 (FY20 3Q).听 Management will host a conference call to discuss financial and business results tomorrow, Thursday, February听6, 2020, at 9:30 AM Eastern Time.

Cash increased to $22.0 million at December 31, 2019, compared to $21.7 million at September 30, 2019, driven by improved working capital.听 Revenue was $7.2 million, compared with $7.6 million in the prior quarter.听 Net loss in FY20 3Q was $1.5 million, an improvement from a net loss of $3.6 million in the prior quarter.听 Prior quarter loss included charges for excess and obsolete inventory of $1.3 million.听 Excess and obsolete expense was insignificant in FY20 3Q.

鈥淥ur third quarter results exceeded our expectations and showed some early traction with our turn-around plans,鈥� said Tim Duitsman, 糖心vlog下载鈥檚 President and CEO. 鈥淲hile revenue remained soft, we made progress with some of our new products. We reset our cost base to help preserve our cash and facilitate our expected return to profitability in fiscal 2021. In addition, we continue to drive our product development strategy, with a sharp focus on public safety, fiber connectivity solutions and remote monitoring, to support a return to profitable revenue growth.鈥�

In-Building Wireless (IBW) Segment

IBW revenue from public safety products, which are a strategic focus, continued to grow during FY20 3Q.听 Sales of commercial repeaters also increased, while lower sales of DAS conditioners offset the increases.听 Segment gross margin and profit improved primarily as a result of much lower charges for excess and obsolete inventory compared to the prior quarter.

Intelligent Site Management (ISM) Segment

ISM revenue decreased, reflecting lower sales of remote units.听 Segment gross margin improved based on much lower charges for excess and obsolete inventory and other cost reductions.听 These effects, combined with lower R&D expense, improved profitability for the quarter.

Communication Network Solutions (CNS) Segment

Growth in revenue from fiber connectivity products, a strategic focus, was more than offset by lower sales across most other CNS product lines.听 The turnaround in CNS segment profit was driven primarily by lower charges for excess and obsolete inventory and lower R&D expense.

Conference Call Information
Management will discuss financial and business results during the quarterly conference call on Thursday, February听6, 2020, at 9:30 AM Eastern Time.听 Investors may quickly register online in advance of the call at .听 After registering, participants receive dial-in numbers, a passcode and a registration ID that is used to uniquely identify their presence and automatically join them into the audio conference.听 A participant may also register by telephone on February听6, 2020, by calling (888) 206-4073 and providing the operator confirmation number 49338781.

This news release and related information that may be discussed on the conference call will be posted on the Investor Relations section of 糖心vlog下载's website: .听 A digital recording of the entire conference will be available for replay on 糖心vlog下载's website by approximately 12:00 PM Eastern Time following the conclusion of the conference.

糖心vlog下载 糖心vlog下载 Technologies
糖心vlog下载 is a leading provider of high-performance network infrastructure solutions focused on innovation and differentiation at the edge of communication networks where end users connect.听 The Company's portfolio of products and solutions enable service providers and network operators to improve performance and reduce operating expenses.听 With millions of products successfully deployed worldwide, 糖心vlog下载 is a trusted partner for transforming networks into high-quality reliable systems. For more information, please visit .

鈥淪afe Harbor鈥� Statement under the Private Securities Litigation Reform Act of 1995

Certain statements contained herein that are not historical facts or that contain the words 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥減lan,鈥� 鈥渟hould,鈥� or derivatives thereof and other words of similar meaning are forward-looking statements that involve risks and uncertainties.听 Actual results may differ materially from those expressed in or implied by such forward-looking statements.听 Factors that could cause actual results to differ materially include, but are not limited to, product demand and market acceptance risks, customer spending patterns, need for financing and capital, economic weakness in the United States (鈥淯.S.鈥�) economy and telecommunications market, the effect of international economic conditions and trade, legal, social and economic risks (such as import, licensing and trade restrictions), the impact of competitive products or technologies, competitive pricing pressures, customer product selection decisions, product cost increases, component supply shortages, new product development, excess and obsolete inventory, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the ability to successfully consolidate and rationalize operations, the ability to successfully identify, acquire and integrate acquisitions, the effect of the Company's accounting policies, retention of key personnel and other risks more fully described in the Company's SEC filings, including the Form 10-K for the fiscal year ended March听31, 2019, under Item听1A - Risk Factors.听 The Company undertakes no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, or otherwise.

糖心vlog下载.
Condensed Consolidated Statement of Operations
(Amounts in thousands, except per share amounts)
(Unaudited)

^(1)听 Restructuring expense for the quarter ended December 31, 2019, related to severance costs for terminated employees.
⁽²⁾ During the quarter ended September 30, 2018, the Company recorded indemnification expense related to probable loss contingencies associated with a major customer contract related to a business which was previously sold and therefore is presented as discontinued operations.听 On July 24, 2019, the Company signed a settlement agreement related to this matter.听 The $345K settlement, which was fully covered by the accrual on March 31, 2019, was paid in the quarter ended December 31, 2019.
⁽³⁾ 听Per share amounts may not sum to totals due to rounding.

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Condensed Consolidated Balance Sheet
(Amounts in thousands)

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Condensed Consolidated Statement of Cash Flows
(Amounts in thousands)
(Unaudited)

⁽¹⁾ During the quarter ended September 30, 2019, the Company made a partial payment for the purchase of product licensing rights.听 The remaining $1.0 million due is recorded in Accounts Payable as of December 31, 2019.听 The corresponding asset is recorded in intangible assets.
⁽²⁾ As of March 31, 2018, the Company had $2.8 million of short-term investments in addition to cash and cash equivalents.

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Segment Statement of Operations
(Amounts in thousands)
(Unaudited)

Sequential Quarter Comparison

Year-over-Year Quarter Comparison

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Reconciliation of GAAP to non-GAAP Financial Measures
(Amounts in thousands, except per share amounts)
(Unaudited)

The Company conforms to U.S. Generally Accepted Accounting Principles (GAAP) in the preparation of its financial statements.听 The schedules above reconcile the Company's non-GAAP financial measures to the most directly comparable GAAP measure.听 The adjustments share one or more of the following characteristics: they are unusual and the Company does not expect them to recur in the ordinary course of its business; they do not involve the expenditure of cash; they are unrelated to the ongoing operation of the business in the ordinary course; or their magnitude and timing is largely outside of the Company's control.听 Management believes that the non-GAAP financial information provides meaningful supplemental information to investors.听 Management also believes the non-GAAP financial information reflects the Company's core ongoing operating performance and facilitates comparisons across reporting periods.听 The Company uses these non-GAAP measures when evaluating its financial results.听 Non-GAAP measures should not be viewed as a substitute for the Company's GAAP results.

Footnotes:

⁽¹⁾听 Stock-based compensation is a non-cash expense incurred in accordance with share-based compensation accounting standards.
⁽²⁾ 听Amortization of acquisition-related intangibles is a non-cash expense arising from intangible assets previously acquired as a result of a business acquisition.
^(3)听 Restructuring expense for the quarter ended December 31, 2019, related to severance costs for terminated employees.听
⁽⁴⁾ The Company recorded indemnification expense related to probable loss contingencies associated with a major customer contract related to a business which was previously sold and therefore is presented as discontinued operations.听 On July 24, 2019, the Company signed a settlement agreement related to this matter.听 The amount to be paid under the settlement agreement is fully covered by the accrual.听
⁽⁵⁾听Amortization of the recently acquired product licensing rights are excluded from Adjusted EBITDA, but included in the Non-GAAP consolidated net income (loss), because the amortization is related to the ongoing operation of the business in the ordinary course.听
⁽⁶⁾听EBITDA is a non-GAAP measure that represents Earnings Before Interest, Taxes, Depreciation, and Amortization.听 The Company presents Adjusted EBITDA.

For additional information, contact:

Tim Duitsman
Chief Executive Officer
糖心vlog下载.
+1 (630) 898 2500
听

Released February 5, 2020