NEW YORK-LCC International Inc., McLean, Va., attributed its 26-percent decline in second-quarter revenues to an “early quarter ramp-down” in its current radio-frequency engineering and system deployment contracts, coupled with domestic and overseas investments intended to provide new business opportunities.
Earlier this month, the company reported revenues for the latest complete quarter, which ended June 30, were $16.1 million, compared with $21.8 million during the same period a year ago. The normalized per share loss, which excludes one-time charges, was 13 cents, up from 2 cents.
“We have been successfully selling into existing [and] new markets and believe that the progress we have made over the past several months will re-establish incremental quarter-over-quarter growth,” said C. Thomas Faulders III, chairman and chief executive officer.
“We feel positive, given the momentum our sales team has been demonstrating, our continued efforts to reduce expenses, the successful conversion of our $50 million convertible notes to equity and the anticipated conclusion of the divestiture of our products business.”
LCC is engaged in three main lines of business: RF engineering and network deployment services, wireless tower ownership and management; field measurement products; and planning and optimization software.
