Wireless Telecom Group Announces First Quarter 2008 Financial Results

Business Wire, May 14, 2008

PARSIPPANY, N.J. -- Wireless Telecom Group, Inc. (AMEX: WTT) announced today results for the first quarter ended March 31, 2008.

For the quarter ended March 31, 2008, the Company reported net sales of $12,989,000, compared to $14,129,000 for the same period in 2007. First quarter results were impacted by slowness within the global commercial wireless markets, which are primary markets for the Company.

For the first quarter of 2008, the Company reported a net loss of $(529,000), or $(0.02) per diluted share, compared to net income of $663,000, or $0.03 per diluted share, for the first quarter of 2007.

Monty Johnson, CEO of Wireless Telecom Group, Inc., stated, "Our financial results reflect the business uncertainty that our major wireless customers are facing. Due to reduced demand from the wireless handset market for test instruments, our first quarter revenue and profitability were down compared to previous quarters.

"Though our relationships with our largest handset manufacturing and service customers are strong and supportive, they are delaying equipment purchases while they review their estimates for future handset demand. However, the need for test equipment for the 3G market is poised to expand, and, although some test equipment capital programs have been put on hold, we believe that the market will turn around and we will see continued demand for our products. In the meantime, we are fortunate to serve a variety of RF and microwave markets, and sales of our product lines that address these other market segments were fundamentally on plan."

Johnson continued, "Our gross margin was adversely impacted by lower volume and, to a lesser degree, by unfavorable currency exchange and product mix. We have, as previously reported, taken steps to reduce our expenses to be in-line with the near-term market dynamics. These reductions are neither temporary savings or delayed expenses, but rather the result of our on-going initiatives to reduce our expense run-rate for improved productivity. We do not expect to fully realize the benefits of our reduction programs until later in the year.

"We anticipate the market conditions that affected our first quarter business results will not be long lasting, or detrimental to our long-term growth potential. We remain convinced that our focus on the wireless markets is appropriate for our company and will drive our future growth."

Wireless Telecom Group designs and manufactures radio frequency (RF) and microwave-based products for wireless and advanced communications industries and markets its products and services worldwide under the Boonton, Microlab, Noisecom, and Willtek brands. Its complementary suite of high performance instruments and components includes peak power meters, signal analyzers, power splitters, combiners, diplexers, noise modules, precision noise generators, and mobile phone testing solutions. The Company serves both commercial and government markets with workflow-oriented, built-for-purpose solutions in cellular/mobile, WiFi, WiMAX, private mobile radio, satellite, cable, radar, avionics, medical, and computing applications. Wireless Telecom Group is headquartered in Parsippany, New Jersey, in the New York City metropolitan area, and maintains a global network of Sales and Service offices for excellent product service and support.

Wireless Telecom Group's website address is http://www.wirelesstelecomgroup.com. Except for historical information, the matters discussed in this news release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007.

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