PCTEL reports $23.5 million in second quarter revenue
PCTEL announced its results for the second quarter ended June 30. The company had revenue of $23.5 million in the quarter, 9% higher compared with the prior year. The second quarter revenue was higher by 82% for the test and measurement product line and lower by 8% for the antenna product line compared with the second quarter 2018.
“We are pleased with the sequential revenue and gross margin growth driven by 5G scanning receiver demand and significant Industrial IoT antenna project wins and facilitated by the cost reduction and realignment actions we took over the past year,” said David Neumann, PCTEL’s CEO. “We are in the early stages of 5G and the deployment of Industrial IoT systems. PCTEL has the capabilities and resources to grow with these markets and increase value for all stakeholders.”