PCTEL revenues up on wireless sales

Broadband wireless solutions provider PCTEL today reported first-quarter revenues of $15.0 million, a 69% increase over its Q1 2004 total of $10.7 million.

PCTEL attributed $14.5 million of its current revenue to wireless product sales, with the remaining $0.5 million the result of licensing fees. By comparison, a year ago the company credited $8.6 million to wireless revenue and $2.1 million to licensing revenue.

According to PCTEL, the increase is due in large part to the boost afforded by its late 2004 acquisition of antenna product lines previously owned by Andrew Corporation. PCTEL's Antenna Products Group grew from $5.1 million to $10.3 million, while its Mobility Solutions and RF Solutions Groups increased their cumulative revenue from $3.5 million to $4.2 million.

Net loss for the recent quarter was $2.3 million, or $0.12 per diluted share, compared to net loss of $0.5 million, or $0.02 per diluted share reported in the first quarter of 2004. PCTEL said those figures were the result of the Andrew deal as well as the exhaustion of a substantial tax loss carry back available in 2004.