RELM Wireless reports first quarter 2018 results
RELM Wireless Corporation (NYSE American: RWC) recently announced financial and operating results for the first quarter ended March 31, 2018. For the first quarter ended March 31, 2018, revenues increased approximately 59.2% to approximately $11.7 million, compared with approximately $7.4 million for the first quarter of 2017. The Company recognized operating income of approximately $748,000 for the first quarter of 2018, an increase of approximately 162% from an operating loss totaling approximately $1.2 million for the first quarter last year. The net loss for the first quarter of 2018 was approximately $443,000, or $0.03 per diluted share, compared with a net loss of approximately $1.3 million, or $0.09 per diluted share, for the same quarter in 2017.
The financial results for the first quarter of 2018 include a loss on the sale of securities totaling approximately $849,000, and a loss of approximately $297,000 on an investment. There were no comparable transactions during last year’s first quarter.