Wegener Reports Fiscal 4Q

Wegener Corp. posted net earnings of $873,000, or 7 cents a share, on revenues of $5.4 million for its fiscal fouth quarter.
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Wegener Corp., (NASDAQ:WGNR), the Duluth, Ga., enterprise satellite distributor, reported results for its fiscal fourth quarter of 2008, ending Aug. 29. Wegener posted net earnings of $873,000, or 7 cents a share, on revenues of $5.4 million for the quarter. During the same period a year ago, Wegener logged $142,000, or a penny a share, on revenues of $5.7 million. 4Q revenues included a gain on patent sales totally $894,000.

For the full fiscal year, the company earned $383,000, or 3 cents a share, on revenues of $21.5 million. Wegener lost $753,000 last year on the same amount of revenue.

Wegener Chairman and CEO Robert Placek said the company had low bookings and expected to take an operating loss for the first fiscal quarter of ’09, but improvements were anticipated the subsequent quarter. He said the company was in discussion to obtain working capital. - TVB Staff