Wireless Telecom Group reported that its net sales were up 16% year-over-year, driven by strong growth in its network solutions segment.
The company designs and manufactures radio frequency and microwave-based products for wireless, including components for distributed antenna systems and technologies including Wi-Fi and WiMax. It markets its products under the brands Boonton, Microlab and Noisecom.
For the quarter that ended Dec. 31, Wireless Telecom Group reported net sales of $9.5 million, compared to $8.2 million in the same period in 2012. Net sales in its network solutions business were $6 million, up 28% year-over-year. WTG’s test and measurement segment reported net sales of $3.5 million, essentially flat from the prior-year period.
WTG’s full-year net sales were $33.8 million, up more than 14% from 2012. The network solutions segment saw its full-year net sales increase 54% to $22 million, while the test and measurement business reported that its net sales dropped by 23% from the $15.3 million that it garnered in 2012.
Net income for the quarter ended in December was $1.3 million, and $3.8 million for the year.
Paul Genova, CEO of WTG, said in a statement that the “primary driver of [TWG’s] growth is the implementation of LTE and DAS to satisfy increasing users’ demand for bandwidth that outpaces existing supply. We believe our Network Solutions segment is well-positioned to continue to take advantage of this market growth.”
He said that the sales drop in test and measurement in 2013 due largely to the federal government sequester, but added that TWG had recently received a $1.1 million order from the Federal Aviation Administration which will be fulfilled this year.
