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Wegener announces Q4 and fiscal 2009 financial results

Posted on: Wed, 25 Nov 2009 11:05:00 EST

Symbols: WGNR

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Nov 25, 2009 (TELECOMWORLDWIRE via COMTEX) --
WGNR | Quote | Chart | News | PowerRating -- Wegener Corporation (Nasdaq:WGNR) announced on Wednesday its financial
results for the fourth quarter and fiscal year ended 28 August 2009.

The company said its revenues for Q4 of fiscal 2009 were USD2.9m
compared to USD5.4m for the same period in fiscal 2008. Revenues for
all of fiscal 2009 were USD12.7m compared to USD21.5m for the same
period in fiscal 2008.

The net loss for the three months ended 28 August 2009 was USD538,000
or USD0.04 per share, compared to net earnings of USD873,000 or USD0.07
per share for the three months ended 29 August 2008. The net loss for
the year ended 28 August 2009, was USD2.6m or USD0.21 per share,
compared to net earnings of USD383,000 or USD0.03 per share for fiscal
2008.

Net earnings for the fourth quarter and for fiscal 2008 included a gain
on sale of patents of USD894,000.

In addition, the company's eighteen-month backlog was USD4.3m at 28
August 2009, compared to USD8.5m at 29 August 2008. The total
multi-year backlog at 28 August 2009 was approximately USD6.8m,
compared to USD13.3m at 29 August 2008.

Bookings for Q4 of fiscal 2009 were USD1.3m compared to USD5.0m for the
same period in fiscal 2008. Bookings for fiscal 2009 were USD5.5m,
compared to USD16.4m for fiscal 2008.

Wegener said its performance in fiscal 2009 was very disappointing and
the company is committed to a top-down assessment of its product lines,
sales methodology, engineering, operations and customer service.

Wegener is a provider of products for television, audio and data
distribution networks.

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