WTT announces record quarterly sales and earnings; Quarterly sales up 80%; Quarterly earnings up 132%

Business Wire,  Oct 16, 1995  

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PARAMUS, N.J.--(BUSINESS WIRE)--Oct. 16, 1995--Wireless Telecom Group Inc. (AMEX Symbol:WTT) announced today record year-to-date and third quarter 1995 results. For the nine months ended Sept. 30, 1995, net sales increased to $12,024,215 from $5,892,454 for the nine months ended Sept. 30, 1994. Sales for the quarter ended Sept. 30, 1995 were $4,537,581 as compared to $2,519,500 recorded in the third quarter of 1994. These increases are attributed to the escalating global demand for the company's products.

For the nine months to date, net income reached $3,813,130 or 44 cents per share, as compared with $1,368,981 or 17 cents per share, for the same period of the prior year. Net income for the current quarter was $1,462,937 or 17 cents per share as compared to $630,344 or 7 cents per share as reported for the comparable quarter in 1994. These increases are attributed to the increased volume of sales.

The increase in earnings were achieved despite increases in expenditures for research and development, selling expenses and additional expenses. Increased expenditures for research and development are expected to continue for the remainder of 1995 as the company continues its commitment to expanding its product line. During the quarter ended Sept. 30, 1995 the company paid a quarterly cash dividend of 4 cents per share, aggregating $344,840 to shareholders of record on Sept. 22, 1995.

Wireless Telecom Group Inc. is a global provider of standard and custom designed noise sources and test equipment for wireless telecommunications.

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