JOHNS CREEK, GA — (Marketwire) — 04/19/12 — Wegener Corporation (OTCQB: WGNR) (PINKSHEETS: WGNR), a leading provider of products for television, audio and data distribution networks worldwide, today announced final operating results for the second quarter of fiscal 2012, which ended March 2, 2012.
Operating results for the second quarter of fiscal 2012 were revenues of approximately $2.4 million and a net loss of approximately $(364,000) or $(0.03) per share compared to revenues of $1.4 million and a net loss of approximately $(971,000) or $(0.07) per share for the same period in fiscal 2011. The operating results for the six months ended March 2, 2012, were revenues of $3.8 million and a net loss of approximately $(1.2) million or $(0.09) per share compared to revenues of $4.4 million and a loss of approximately $(996,000) or $(0.08) per share for the same period ended March 4, 2011.
Wegener Corporation-s eighteen-month and total multi-year backlog was approximately $2.6 million at March 2, 2012, compared to $5.9 million at March 4, 2011. Bookings for the second quarter and the first six months of fiscal 2012 were approximately $987,000 and $1.9 million compared to $677,000 and $3.9 million for the same periods in fiscal 2011.
“Although the second quarter results were an improvement over the first quarter, we certainly are not satisfied or even pleased with our bookings and operating performance in the second quarter of fiscal 2012,” stated Troy Woodbury, President and CEO of Wegener Corporation.
“There has been a recent realignment of territory responsibilities in our sales department. We are reviewing our world-wide sales coverage and will add additional staff as possible. While our current forecast indicates that significant bookings are still required for the remainder of this fiscal year and that we will likely have an operating loss for this current third quarter, we are pleased by the acceptance of our products in the digital signage and broadcast markets and are encouraged by the business opportunities we are seeing.”
Wegener Corporation will host a conference call on Monday, April 23, 2012, at 4:15 PM Eastern Time to discuss its financial results. To join the conference call, dial 800.591.6942 or 617.614.4909 for international dial in, and enter participant code 63178413. 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 Company-s website at . It will be archived on WEGENER-s website at and the replay will be available within one hour after the conference call.
WEGENER® (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (OTCQB: WGNR) (PINKSHEETS: WGNR), 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 .
WEGENER is on Twitter. Sign up to follow @WEGENER at .
Jim Traicoff
CFO
Wegener Corporation
(770) 814-4000
FAX (770) 623-9648
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