PCTEL Q1 2014 revenue dips 6%

PCTEL, Inc. (NASDAQ: PCTI) said its first quarter 2014 revenue was USD23.7m, a decrease of six percent from the same period last year.

Gross profit margin of 41 percent in the quarter, compared to 38 percent in the same period last year.

GAAP operating margin from continuing operations of negative two percent for the quarter, compared to operating margin of negative five percent for the same period last year.

GAAP net loss from continuing operations of USD(146,000) for the quarter, or USD(0.01) per diluted share, compared to net income of USD2.0m from continuing operations, or USD0.11 per diluted share for the same period last year. Net income for the first quarter last year included a one-time gain from a legal settlement net of expenses of USD0.11 per diluted share.

Non-GAAP operating profit and net income are measures the company uses to reflect the results of its core earnings. The company´s reporting of Non-GAAP net income excludes expenses for restructuring, gain or loss on sale of assets, stock based compensation, amortization and impairment of intangible assets and goodwill related to the company´s acquisitions, and non-cash related income tax expense.

PCTEL develops antenna, scanning receiver, and engineered site solutions and services for public and private networks. Its website is at www.pctel.com.

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