Wegener Corp. (WGNR, Financial) filed Annual Report for the period ended 2010-09-03.
Wegener Corp. has a market cap of $1.01 million; its shares were traded at around $0 with and P/S ratio of 0.08.
During the first, second, third and fourth quarters of fiscal 2010, bookings were approximately $1.8 million, $2.1 million, $3.0 million and $1.4 million, respectively. These fiscal 2010 bookings and fiscal 2011 bookings to date, as well as our fiscal 2009 bookings, were well below our expectations and internal forecasts primarily as a result of customer delays in purchasing decisions, deferral of project expenditures and general adverse economic and credit conditions.
WCI s loan facility was amended effective October 8, 2009 and provided a maximum credit limit of $4,000,000, with interest charged at the rate of twelve percent (12%) per annum. The term of the amended loan facility is eighteen (18) months beginning October 8, 2009, or upon demand in the event of default as provided by the loan facility. Effective September 3, 2010, the maximum credit limit was increased to $4,250,000 and the annual interest rate was reduced to eight percent (8.0%) per annum.
Currently, we hold five U.S patents and have two patent applications pending. During the fourth quarter of fiscal 2008, we completed the sale of seven patents and patent applications to EPAX Consulting Limited Liability Company relating to product distinction, system architecture and IP networking for net proceeds of approximately $1,075,000 and recorded a gain of $894,000. We retain a worldwide, non-exclusive, royalty-free license under the patents for use in both existing and future products. A patent covering advanced receiver grouping techniques in Compel® expired on November 14, 2008. In addition to the advanced grouping techniques, we believe Compel®, along with our MediaPlanÒ CM and MediaPlanÒ i/o modules, offers other significant features and functionalities f
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Wegener Corp. has a market cap of $1.01 million; its shares were traded at around $0 with and P/S ratio of 0.08.
Highlight of Business Operations:
Net loss for the year ended September 3, 2010, was $(2,313,000) or $(0.18) per share, compared to a net loss of $(2,606,000) or $(0.21) per share for the year ended August 28, 2009, and net earnings of $383,000 or $0.03 per share for the year ended August 29, 2008. Fiscal 2008 net earnings included a gain on sale of patents of $894,000. Revenues for fiscal 2010 decreased $3,734,000, or 29.5%, to $8,921,000 from $12,655,000 in fiscal 2009.During the first, second, third and fourth quarters of fiscal 2010, bookings were approximately $1.8 million, $2.1 million, $3.0 million and $1.4 million, respectively. These fiscal 2010 bookings and fiscal 2011 bookings to date, as well as our fiscal 2009 bookings, were well below our expectations and internal forecasts primarily as a result of customer delays in purchasing decisions, deferral of project expenditures and general adverse economic and credit conditions.
WCI s loan facility was amended effective October 8, 2009 and provided a maximum credit limit of $4,000,000, with interest charged at the rate of twelve percent (12%) per annum. The term of the amended loan facility is eighteen (18) months beginning October 8, 2009, or upon demand in the event of default as provided by the loan facility. Effective September 3, 2010, the maximum credit limit was increased to $4,250,000 and the annual interest rate was reduced to eight percent (8.0%) per annum.
Currently, we hold five U.S patents and have two patent applications pending. During the fourth quarter of fiscal 2008, we completed the sale of seven patents and patent applications to EPAX Consulting Limited Liability Company relating to product distinction, system architecture and IP networking for net proceeds of approximately $1,075,000 and recorded a gain of $894,000. We retain a worldwide, non-exclusive, royalty-free license under the patents for use in both existing and future products. A patent covering advanced receiver grouping techniques in Compel® expired on November 14, 2008. In addition to the advanced grouping techniques, we believe Compel®, along with our MediaPlanÒ CM and MediaPlanÒ i/o modules, offers other significant features and functionalities f
Read the The complete Report
