Wegener Reports Profitable Fourth Quarter Despite Drop in Bookings
[Satellite Today 11-26-08] Wegener Corp. reported a slight decrease in revenues in its fourth quarter 2008 fiscal report released Nov. 26. Sales slipped from $5.7 million a year ago to $5.4 million in the most recent quarter.
Wegener’s 18-month backlog and bookings also were down slightly for the fourth quarter at $16.4 million compared to $17.9 million in 2007.
Wegener CEO Robert Placek said he was pleased with the quarter. “We are reporting a profitable fourth quarter and fiscal 2008 despite these difficult economic times,” he said. “However, with the continuing slowdown of the economy and with low bookings and revenues in the first quarter of fiscal 2009, we anticipate an operating loss for the first quarter but expect improved revenues and operating results in the second quarter.”
Placek said that Wegener is “in discussions with potential sources to obtain additional working capital required during the second quarter of fiscal 2009.” Placek added that the previously announced re-sizing of the company has had little impact on the its capacity.