Cell site solutions provider PCTel saw its revenues grow substantially during the first quarter of 2013, with $25.1 million in revenue – an increase of 46% year-over-year.
The company said that its TelWorx acquisition accounted for 25% of the growth, with the remaining 21% of growth coming from PCTel’s pre-acquisition operations. PCTel specializes in antennas and other site equipment such as enclosures, cables, connectors and other pieces for cell sites; the purchase of TelWorx added custom RF engineering, delivery and deployment of systems as well as mobile towers for defense, industrial wireless and other applications.
Net income on a GAAP-basis was $1.9 million for the quarter, up from a net loss of $880,000 in the same period of 2012.
PCTel Chairman and CEO Marty Singer said that the company “made solid progress on all fronts during the first quarter. We saw revenue increases in all product areas and a significant contribution from our recently acquired assets.”
Singer said that PCTel began consolidating its North American factory and distribution operations during the last quarter, as well as announcing a new product and seeing rapid growth in its indoor network engineering services and completing its first major subway transit DAS network in New York City.
“It was a rewarding quarter,” added Singer.
More recently, PCTel said that it sold all of its ProsettaCore assets to Redwall Technologies, which specializes in mobile security, military and defense systems, and critical national infrastructure. ProsettaCore allows multiple, distinct security policies to run on Android devices. Redwall acquired all the software and underlying intellectual property and development responsibility, while PCTel will receive royalties on ProsettaCore-enabled devices.