xG Technology Announces Preliminary Estimated Revenue Results for the Fourth Quarter of 2018
XG TECH (XGTI)
US:NASDAQ Investor Relations:
xgtechnology.com/about-xg-technology/investor-information
Company Research
Source: GlobeNewswire
SARASOTA, FL, Jan. 22, 2019 (GLOBE NEWSWIRE) -- xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), whose brands are recognized as the global leaders in live video communications, today announced preliminary estimated revenue results for the fourth quarter ended December 31, 2018. xG anticipates overall revenue for the quarter to reach approximately $10.9 million. Gross margins for the quarter are forecast to be in the historical range reported by the Company of approximately 50%, and the Company expects to end the year with approximately $2.1 million cash on hand. “We are pleased to report these preliminary revenue results, which is in keeping with our efforts since Q2 2018,” said Roger Branton, CEO and co-founder of xG Technology. “In the second quarter of 2018, we implemented decisive measures to strengthen the financial position of the company and enable profitable and stable revenue growth. Our initial goal was cost-justifying all aspects of our business. We ac
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