Antenna and site solution company PCTel saw its revenues drop 6% year-over-year to $23.7 million, and recorded a loss for the quarter of $146,000.
Marty Singer, PCTEL‘s chairman and CEO, said that core antenna sales “were soft for seasonal reasons but we expect a strong rebound this quarter in that product area.”
PCTel had posted a $2 million profit during the first quarter of last year, but that came in part from a one-time legal settlement.
The company had slightly increased costs in research and development in the first quarter of 2014, reporting $2.5 million during the 2013 first quarter and $3.2 million this year. Singer noted that the company “had an extremely active quarter with respect to new product releases that will benefit the company this year.”
PCTel’s product launches included a new LTE MIMO antenna and new MIMO Wi-Fi antenna, as well as a new solution for in-building testing.
Singer said that PCTel remains comfortable with its revenue guidance of $112 million to $114 million for its full-year 2014, and that its in-building engineering services and scanning receiver revenue are growing, along with its site solutions products.
PCTel’s stock has had a rocky week, going from trading above $8.60 early in the week to below $8.10 per share late Wednesday. The stock was at $8.35 per share in mid-morning trading on Friday, down about 1% from its opening price.
