Wegener Corporation, a US-based provider of digital services for video, audio and IP data networks, has posted net earnings of $873,000, or $0.07 per share, for the fourth quarter of fiscal 2008, compared to net earnings of $142,000, or $0.01 per share, in the fourth quarter of fiscal 2007.
Revenues for the fourth quarter of fiscal 2008 were $5.4 million compared to $5.7 million for the same period in fiscal 2007.
Revenues for fiscal year ended August 29, 2008 were $21.5 million compared to $21.5 million for the same period in fiscal 2007. Net earnings for the year ended August 29, 2008, were $383,000, or $0.03 per share, compared to a net loss of $753,000, or $0.06 per share, for fiscal 2007.
Robert Placek, chairman and CEO of Wegener Corporation, said: We anticipate an operating loss for the first quarter but expect improved revenues and operating results in the second quarter. To bridge this challenging period, we are in discussions with potential sources to obtain additional working capital required during the second quarter of fiscal 2009. In addition, the previously announced re-sizing of the company was accomplished primarily during the fourth quarter of fiscal 2008 with little impact on the company’s capacity, as was predicted.