[November 21, 2009] Wireless Telecom Group Names New CEO, Releases 3Q Financial Results Tweet Nov 20, 2009 (Close-Up Media via COMTEX) -- The Board of Directors of Wireless Telecom Group, Inc., announced that, effective November 12, the Board has elected Paul Genova, the Corp.'s President, CFO and Acting CEO, to serve as its CEO. Savio Tung the Chairman of the Board of the Corp. said, "We are pleased to appoint Paul, a skilled, seasoned executive whose performance with the Corp. demonstrates his ability to succeed in this leadership role." The Company also announced its results for the third quarter and nine months ended September 30. For the quarter ended September 30, the Company reported net sales of $13,124,000, compared to $13,609,000 for the same period in 2008. For the third quarter of 2009, the Company reported net income of $163,000, or $0.01 per diluted share, compared to a net (loss) of $(510,000), or $(0.02) per diluted share, for the third quarter of 2008. For the nine months ended September 30, the Company reported net sales of $35,989,000, compared to $39,605,000 for the same period in 2008. The Company also reported a net (loss) of $(200,000), or $(0.01) per diluted share, for the first nine months of 2009, compared to a net (loss) of $(2,029,000), or $(0.08) per diluted share, for the same period of 2008. Genova said, "I am encouraged by our progress in the third quarter while significant economic and market challenges remain. We will continue to focus on maintaining a strong balance sheet and positive cash flows. We remain committed to continued progress through enhanced operational effectiveness and revenue growth with increased profitability in order to provide value to our shareholders." Wireless Telecom Group designs and manufactures radio frequency (RF) and microwave-based products for wireless and communications industries. More Information: http://www.wtcom.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]