PCTEL, Inc. (NASDAQ: PCTI), a leader in simplifying wireless and
site solutions for private and public networks, announced results for
the second quarter ended June 30, 2012.
Second Quarter Highlights
Non-GAAP operating profit of 8 percent in the quarter, as
compared to 8 percent operating profit in the same period last
year.Non-GAAP net income of $1.5 million or $0.09 per
diluted share in the quarter, as compared to $1.4 million or $0.08
per diluted share in the same period last year.
"Our antenna business continues to thrive, largely due to the
continued focus on vertical markets in the private sector and our
investments in GPS, MIMO, and other leading edge antennas," said Marty
Singer, PCTEL's Chairman and CEO. "Carrier spending continues to dampen
scanning receiver sales even though second quarter SeeGull® sales were
30 percent higher than first quarter sales. We continue to
believe that carriers will be more active in deploying new technologies
in the second half of the year and we anticipate a strong contribution
from our latest acquisition and the formation of PCTEL Connected
Solutions," added Singer.
CONFERENCE CALL / WEBCAST
PCTEL's management team will discuss the Company's results today at 5:15
PM ET. The call can be accessed by dialing (877) 734-5369 (U.S. /
Canada) or (706) 679-6397 (International), conference ID: 98049059.
The call will also be webcast at http://investor.pctel.com/events.cfm.
REPLAY: A replay will be available for two weeks after the call on
either the website listed above or by calling (855) 859-2056
(U.S./Canada), or International (404) 537-3406, conference ID: 98049059.
PCTEL, Inc. (NASDAQ: PCTI), develops antenna, scanning receiver, and
engineered site solutions for public and private networks. The company's
SeeGull® scanning receivers, SeeHawk® visualization tool, and Clarify®
system measure and analyze wireless signals for efficient cellular
network planning, deployment, and optimization. PCTEL develops and
supports scanning receivers for LTE, TD-LTE, EVDO, CDMA, WCDMA,
TD-SCDMA, GSM, and WiMAX networks.
PCTEL's MAXRAD®, Bluewave™ and Wi-Sys™ antenna solutions address private
network, public safety, and government applications. PCTEL develops and
delivers high-value YAGI, Land Mobile Radio, WiFi, GPS, In-Tunnel,
Subway, and broadband antennas (parabolic and flat panel). The company's
vertical markets include SCADA, Health Care, Smart Grid, Precision
Agriculture, Indoor Wireless, Telemetry, Off-loading, and Wireless
Backhaul. PCTEL Connected Solutions™ designs and delivers Site Solutions
for private and public wireless, data, and communication applications.
PCTEL Connected Solutions™ utilizes specialized towers, enclosures,
fiber optic panels, fiber jumper cables and a wide array of its
TowerWorx™ and TelWorx™ products to deliver engineered site solutions.
PCTEL Secure focuses on Android mobile platform security. PCTEL's
products are sold worldwide through direct and indirect channels. For
more information, please visit the company's web sites www.pctel.com,
PCTEL Safe Harbor Statement
This press release contains "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. Specifically, the
statements regarding PCTEL's future financial performance and
expectations regarding growth and expansion are forward-looking
statements within the meaning of the safe harbor. These statements are
based on management's current expectations and actual results may differ
materially from those projected as a result of certain risks and
uncertainties, including the ability to successfully grow the wireless
products business and the ability to implement new technologies and
obtain protection for the related intellectual property. These and other
risks and uncertainties are detailed in PCTEL's Securities and Exchange
Commission filings. These forward-looking statements are made only as of
the date hereof, and PCTEL disclaims any obligation to update or revise
the information contained in any forward-looking statement, whether as a
result of new information, future events or otherwise.
Reconciliation GAAP To non-GAAP Results
Of Operations (unaudited)
Reconciliation of GAAP operating income
to non-GAAP operating income (a)
Reconciliation of GAAP net income to
non-GAAP net income (b)
This schedule reconciles the company's GAAP operating income and
GAAP net income to its non-GAAP operating income and non-GAAP net
income. The company believes that presentation of this schedule
provides meaningful supplemental information to both management
and investors that is indicative of the company's core operating
results and facilitates comparison of operating results across
reporting periods. The company uses these non-GAAP measures when
evaluating its financial results as well as for internal planning
and forecasting purposes. These non-GAAP measures should not be
viewed as a substitute for the company's GAAP results.
(b) These adjustments include the items described in footnote (a)
as well as the non-cash income tax expense, noncontrolling
interest, and investment income related to noncontrolling interest.
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