Wegener Hopes for Improving Finances

Wegener Corp. said its revenues for the third quarter were $6.6 million compared to $4.3 million for the same period in fiscal 2005, an increase of 53%. For the fiscal year to date, revenues were off, at $16.2 million compared to $17 million at this point last year.
Net earnings for the quarter were $138,000 or a penny per share compared to a net loss of $620,000 or five cents per share last year. For the year so far, Wegener has posted a net loss of $1.6 million compared to a net loss of $380,000 for the same period last year.
“Although we have a good deal of work still ahead, we are pleased to report a profit for the third quarter,” the company quoted Chairman/CEO Robert Placek as saying. It was the company’s best quarterly revenue in about six years.
“Key new products for the radio broadcasting and private television network markets are scheduled for release during the fourth quarter, and their release should generate additional bookings and revenue,” President/COO Ned Mountain said in the announcement.
The radio product is the iPump 6420, to be released late in fiscal 2006.