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Stock impact report

Westell Reports Fiscal 2020 Second Quarter Results

WESTELL TECHS INC A NEW (WSTL) 
Last westell techs inc a new earnings: 10/31 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.westell.com
Company Research Source: GlobeNewswire
AURORA, Ill., Nov. 13, 2019 (GLOBE NEWSWIRE) -- Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of high-performance network infrastructure solutions, today announced results for its fiscal 2020 second quarter ended September 30, 2019 (2Q20).  Management will host a conference call to discuss financial and business results tomorrow, Thursday, November 14, 2019, at 9:30 AM Eastern Time. Revenue was $7.6 million, compared with $9.0 million in the prior quarter.  Net loss in 2Q20 was $3.6 million, compared with a net loss of $2.2 million in the prior quarter.  The losses include significant charges for excess and obsolete inventory of $1.3 million in 2Q20, compared to $0.6 million in 1Q20.  Inventory charges increased as a result of technology shifts and changing customer plans which lowered the sales outlook for certain legacy products. “Second-quarter revenue and net loss continued our recent downward trend,” said Tim Duitsman, Westell’s newly appointed Show less Read more
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