/ 12.22.2009 12:00AM
Wegener Reports Preliminary Results for FY1Q10
DULUTH, GA.:Wegener Corp. issued preliminary operating
results for the first quarter ended Nov. 27, 2009.
Preliminary F1Q10 revenues of $1.9 million, with a net loss of approximately $992,000
or 8 cents per share compared to revenues of $2.3 million and a net loss of
$1.2 million or 9 cents a share a year earlier.
Wegener’s 18-month backlog was $4.2 million as of Nov. 27, 2009, compared to
$8.1 million a year earlier. The total multi-year backlog was approximately
$6.6 million compared to $12.5 million last year. Bookings totaled $1.8 million
compared to $1.3 million. Final first quarter fiscal 2010 numbers will be
released in January 2010.
“As we have previously discussed, our first quarter performance was very
disappointing,” stated Troy Woodbury, Wegener president and CEO. “During October
of this year we reduced our headcount by 19 percent as we have continued to
lower our breakeven point. The fiscal 2010 first quarter operating results
reflect approximately $250,000 in severance costs compared to $24,000 in the
first quarter of fiscal 2009.”
“During the past eight weeks, I have met or talked with a number of our key
customers to ascertain what will be required to increase bookings,” he said. “We
have received some excellent feedback and are very focused on implementing
changes that we believe will result in improved performance in the future.”
Wegener was delisted from the NASDAQ earlier this month.
More on Wegener:
December 3, 2009: “NASDAQ Prepares to Drop Wegener
December 1, 2009:“Wegener Nets $534,000
Order”
November 30, 2009: “Wegener Swings to $2.6 Million
Loss for FY2009”
October 14, 2009“Wegener Lands $4
Million in Financing”
September 17, 2009: “Sencore Deal to Buy Wegener
Cancelled”
July 21, 2009: “Sencore Aims to take
Wegener in $6 Million Deal”
July 14, 2009: “Wegener’s
Fiscal 3Q Revenues Down 34 Percent”
April 14, 2009: “Wegener Breaks Even in
Fiscal 2Q09”