0000930413-18-001746.txt : 20180509 0000930413-18-001746.hdr.sgml : 20180509 20180509060149 ACCESSION NUMBER: 0000930413-18-001746 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 73 CONFORMED PERIOD OF REPORT: 20180331 FILED AS OF DATE: 20180509 DATE AS OF CHANGE: 20180509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WIRELESS TELECOM GROUP INC CENTRAL INDEX KEY: 0000878828 STANDARD INDUSTRIAL CLASSIFICATION: INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825] IRS NUMBER: 222582295 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-11916 FILM NUMBER: 18816523 BUSINESS ADDRESS: STREET 1: EAST 64 MIDLAND AVE CITY: PARAMUS STATE: NJ ZIP: 07652 BUSINESS PHONE: 2012618797 MAIL ADDRESS: STREET 1: EAST 64 MIDLAND AVE CITY: PARAMUS STATE: NJ ZIP: 07652 FORMER COMPANY: FORMER CONFORMED NAME: NOISE COM INC/NJ DATE OF NAME CHANGE: 19930328 10-Q 1 c91154_10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2018

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 1-11916

WIRELESS TELECOM GROUP, INC.

(Exact name of registrant as specified in its charter)

New Jersey		22-2582295
(State or Other Jurisdiction		(I.R.S. Employer
of Incorporation or Organization)		Identification No.)

25 Eastmans Road, Parsippany, New Jersey		07054
(Address of Principal Executive Offices)		(Zip Code)

(973) 386-9696

(Registrant’s Telephone Number, Including Area Code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o

Accelerated filer o

Non-accelerated filer o

Smaller reporting company x

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

Number of shares of Common Stock outstanding as of May 1, 2018: 20,979,651

WIRELESS TELECOM GROUP, INC.

Table of Contents

PART I – FINANCIAL INFORMATION		3

Item 1. FINANCIAL STATEMENTS		3

Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS		23

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		26

Item 4. CONTROLS AND PROCEDURES		26

PART II – OTHER INFORMATION		27

Item 1. LEGAL PROCEEDINGS		27

Item 1A. RISK FACTORS		27

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS		27

Item 3. DEFAULTS UPON SENIOR SECURITIES		27

Item 4. MINE SAFETY DISCLOSURES		27

Item 5. OTHER INFORMATION		27

Item 6. EXHIBITS		27

SIGNATURES		28

WIRELESS TELECOM GROUP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts and par value)

PART I – FINANCIAL INFORMATION

Item 1 – FINANCIAL STATEMENTS

	March 31			December 31
	2018			2017
	(Unaudited)
CURRENT ASSETS
Cash & cash equivalents	$	2,240		$	2,458
Accounts receivable - net of reserves of $42 and $44, respectively		10,747			9,041
Inventories - net of reserves of $1,732 and $1,856, respectively		7,053			6,526
Prepaid expenses and other current assets		1,725			4,733
TOTAL CURRENT ASSETS		21,765			22,758
PROPERTY PLANT AND EQUIPMENT - NET		2,639			2,730
OTHER ASSETS
Goodwill		10,598			10,260
Acquired Intangible Assets, net		4,391			4,511
Deferred income taxes		5,958			5,939
Other		772			723
TOTAL OTHER ASSETS		21,719			21,433
TOTAL ASSETS	$	46,123		$	46,921
CURRENT LIABILITIES
Short term debt	$	2,747		$	1,335
Accounts payable		3,922			4,109
Accrued expenses and other current liabilities		3,884			2,894
Deferred Revenue		808			629
TOTAL CURRENT LIABILITIES		11,361			8,967
LONG TERM LIABILITIES
Long term debt		456			494
Other long term liabilities		100			1,590
Deferred Tax Liability		852			767
TOTAL LONG TERM LIABILITIES		1,408			2,851
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Preferred stock, $.01 par value, 2,000,000 shares authorized, none issued		-			-
Common stock, $.01 par value, 75,000,000 shares authorized, 34,168,252 and 33,868,252 shares issued, 20,979,651 and 22,772,167 shares outstanding		342			339
Additional paid in capital		47,967			47,494
Retained earnings		7,971			7,176
Treasury stock at cost, - 13,188,601 and 11,096,085 shares, respectively		(24,509	)		(20,910	)
Accumulated Other Comprehensive Income		1,583			1,004
TOTAL SHAREHOLDERS’ EQUITY		33,354			35,103

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	46,123		$	46,921

See accompanying notes to condensed consolidated financial statements.

WIRELESS TELECOM GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) (UNAUDITED)

(In thousands, except share and per share amounts)

	For the Three Months Ended March 31,
	2018			2017
NET REVENUES	$	13,264		$	9,549

COST OF REVENUES		6,996			5,216

GROSS PROFIT		6,268			4,333

Operating Expenses
Research and Development		1,157			1,087
Sales and Marketing		1,910			1,552
General and Administrative		2,681			3,412
Total Operating Expenses		5,748			6,051

Operating income/(loss)		520			(1,718	)

Other income/(expense)		2			(2	)
Interest Expense		(92	)		(49	)

Income/(loss) before taxes		430			(1,769	)

Tax Provision/(Benefit)		56			(538	)

Net Income/(Loss)	$	374		$	(1,231	)

Other Comprehensive Income/(Loss):
Foreign currency translation adjustments		579			(59	)
Comprehensive Income/(Loss)	$	953		$	(1,290	)

Net Income/(Loss) per common share:
Basic	$	0.02		$	(0.06	)
Diluted	$	0.02		$	(0.06	)

Weighted average shares outstanding:
Basic		20,644,409			20,386,678
Diluted		21,633,117			20,386,678

In periods with a net loss, the basic loss per share equals the diluted loss per share as all common stock equivalents are excluded from the per share calculation because they are anti-dilutive.

See accompanying notes to condensed consolidated financial statements.

WIRELESS TELECOM GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(In thousands)

	For the Three Months
	Ended March 31
	2018			2017
CASH FLOWS PROVIDED/(USED) BY OPERATING ACTIVITIES
Net Income/(loss)	$	374		$	(1,231	)
Adjustments to reconcile net income/(loss) to net cash (used) by operating activities:
Depreciation and amortization		626			414
Amortization of debt issuance fees		19			9
Share-based compensation expense		188			301
Deferred rent		5			8
Deferred income taxes		37			(496	)
Provision for (recovery of) doubtful accounts		(1	)		1
Inventory reserves		19			100
Changes in assets and liabilities, net of acquisition:
Accounts receivable		(1,574	)		(231	)
Inventories		(524	)		(412	)
Prepaid expenses and other assets		(507	)		125
Accounts payable		(255	)		352
Accrued expenses and other liabilities		635			160
Net cash (used) by operating activities		(958	)		(900	)
CASH FLOWS (USED) BY INVESTING ACTIVITIES
Capital expenditures		(199	)		(192	)
Acquisition of business net of cash acquired		(811	)		(8,596	)
Net cash (used) by investing activities		(1,010	)		(8,788	)
CASH FLOWS PROVIDED/(USED) BY FINANCING ACTIVITIES
Revolver borrowings		10,603			3,399
Revolver repayments		(9,191	)		(1,494	)
Term loan borrowings		-			760
Term loan repayments		(38	)		-
Debt issuance fees		-			(215	)
Proceeds from exercise of stock options		288			38
Net cash provided/(used) by financing activities		1,662			2,488
Effect of exchange rate changes on cash and cash equivalents		88			27
NET (DECREASE) IN CASH AND CASH EQUIVALENTS		(218	)		(7,173	)
Cash and cash equivalents, at beginning of period		2,458			9,351
CASH AND CASH EQUIVALENTS, AT END OF PERIOD	$	2,240		$	2,178
SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest	$	36		$	5
Cash paid during the period for income taxes	$	9		$	-
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of Common Shares as Consideration	$	-		$	5,999

See accompanying notes to condensed consolidated financial statements.

WIRELESS TELECOM GROUP, INC.

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (UNAUDITED)

(In thousands, except share amounts)

			Common									Accumulated Other		Total
	Common		Stock		Additional Paid		Retained					Comprehensive		Shareholders’
	Stock Issued		Amount		In Capital		Earnings		Treasury Stock			Income		Equity
Balances at December 31, 2017		33,868,252	$	339	$	47,494	$	7,176	$	(20,910	)	$	1,004	$	35,103

Adoption of Accounting Standard		-		-		-		421		-			-		421
Adjusted Opening Equity		33,868,252	$	339	$	47,494	$	7,597	$	(20,910	)	$	1,004	$	35,524

Net Income (loss)		-		-		-		374		-			-		374
Issuance of shares in connection with stock options exercised		300,000		3		285		-		-			-		288

Forfeiture of shares issued in connection with CommAgility acquisition		-		-		-		-		(3,599	)		-		(3,599	)
Share-based compensation expense		-		-		188		-		-			-		188
Cumulative translation adjustment		-		-		-		-		-			579		579
Balances at March 31, 2018		34,168,252	$	342	$	47,967	$	7,971	$	(24,509	)	$	1,583	$	33,354

See accompanying notes to condensed consolidated financial statements.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES

Basis of Presentation

Wireless Telecom Group, Inc., a New Jersey corporation, together with its subsidiaries (“we”, “us”, “our” or the “Company”), is a global designer and manufacturer of advanced radio frequency (“RF”) and microwave components, modules, systems and instruments and currently markets its products and services worldwide under the Boonton, Microlab, Noisecom and CommAgility brands. Serving the wireless, telecommunication, satellite, military, aerospace, and semiconductor industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, long term evolution (“LTE”) physical layer (“PHY”) and stack software, power splitters and combiners, global positioning system (“GPS”) repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe.

The condensed consolidated balance sheet as of March 31, 2018, the condensed consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2018 and 2017, the condensed consolidated statements of cash flows for the three months ended March 31, 2018 and 2017 and the condensed consolidated statement of shareholders’ equity for the three months ended March 31, 2018 have been prepared by the Company without audit. The condensed consolidated financial statements include the accounts of Wireless Telecom Group, Inc., doing business as and operating under the trade name, Noisecom, and its wholly owned subsidiaries including Boonton Electronics Corporation (“Boonton”), Microlab/FXR (“Microlab”), Wireless Telecommunications Ltd. and CommAgility Limited (“CommAgility”). All intercompany transactions and balances have been eliminated in consolidation.

It is suggested that these interim condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements, and the notes thereto, included in the Company’s latest shareholders’ annual report (Form 10-K).

Condensed Consolidated Financial Statements

In the opinion of management, the accompanying condensed consolidated financial statements referred to above contain all necessary adjustments, consisting of normal accruals and recurring entries, which are necessary to fairly present the Company’s results for the interim periods being presented.

The accounting policies followed by the Company are set forth in Note 1 to the Company’s financial statements included in its annual report on Form 10-K for the year ended December 31, 2017. Specific reference is made to that report since certain information and footnote disclosures normally included in financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP) have been reduced for interim periods in accordance with SEC rules.

The results of operations for the three month period ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018.

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (including inventory valuation, accounts receivable valuation, valuation of deferred tax assets, intangible assets, estimated fair values of stock options and estimated fair values of acquired assets and liabilities in business combinations) and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of net revenues and expenses during the reporting period. Actual results could differ from those estimates.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Foreign Currency Translation

Assets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where the local currency is the functional currency, are translated from foreign currencies into U.S. dollars at period-end exchange rates while income and expenses are translated at the weighted average spot rate for the periods presented. Translation gains or losses related to net assets located outside the U.S. are shown as a component of accumulated other comprehensive income in the Consolidated Statements of Shareholders’ Equity. Gains and losses resulting from foreign currency transactions, which are denominated in currencies other than the Company’s functional currency, are included in the Consolidated Statements of Operations and Comprehensive Loss.

Concentration Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable.

Credit evaluations are performed on customers requiring credit over a certain amount. Credit risk is mitigated to a lesser extent through collateral such as letters of credit, bank guarantees or payment terms like cash in advance.

For the three months ended March 31, 2018, one customer accounted for approximately 16% of the Company’s consolidated revenues. For the three months ended March 31, 2017, one customer accounted for approximately 11% of the Company’s consolidated revenues. At March 31, 2018, one customer exceeded 10% of consolidated gross accounts receivable at 23% of the Company’s gross accounts receivable. At December 31, 2017, two customers exceeded 10% of consolidated gross accounts receivable at 18% and 11%, respectively.

Fair Value of Financial Instruments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The carrying amounts of the Company’s financial instruments, including cash, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The Company’s term loan and revolving credit facility bear interest at a variable interest rate plus an applicable margin and, therefore, carrying amount approximates fair value.

Contingent Consideration

Under the terms of the CommAgility Share Purchase Agreement the Company may be required to pay additional purchase price if certain financial targets are achieved for the years ending December 31, 2017 and December 31, 2018 (“CommAgility Earn-Out”). The financial targets for 2017 were not achieved therefore there was no earn-out payment made in the three months ended March 31, 2018. As of December 31, 2017, the Company estimated the fair value of the contingent consideration remaining to be paid based on the 2018 financial results to be $630. The Company is required to reassess the fair value of the contingent consideration at each reporting period.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Company believes its estimates and assumptions are reasonable, different assumptions, including those regarding the operating results of CommAgility or changes in the future, may result in different estimated amounts.

As of March 31, 2018, the Company’s contingent consideration liability has been estimated at $678 and is recorded in other current liabilities in the accompanying condensed consolidated balance sheet. The Company will satisfy this obligation with a cash payment to the sellers of CommAgility upon the achievement of the financial targets for 2018. The contingent consideration liability is considered a Level 3 fair value measurement.

Subsequent Events

Management has evaluated subsequent events and determined that there were no subsequent events or transactions requiring recognition or disclosure in the consolidated financial statements through the date the financial statements were issued.

NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS

Adopted During The Three Months Ended March 31, 2018

On January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“Topic 606”) using the “modified retrospective” method, meaning the standard is applied only to the most current period presented in the financial statements. Furthermore, we elected to apply the standard only to those contracts which were not completed as of the date of the adoption. Results for reporting periods beginning on the date of adoption are presented under Topic 606, while prior period amounts have not been adjusted and continue to be reported in accordance with accounting standards in effect for those periods (see Note 3).

Upon adoption, a cumulative effect adjustment of $421 was made and the impact resulted in an increase to retained earnings on the Condensed Consolidated Balance Sheet as of January 1, 2018. The adjustment was based on customer-specific contracts in effect at December 31, 2017 and reflects revenue that would have been recognized in 2018 in accordance with Accounting Standard Codification (“ASC”) 605 “Revenue Recognition” and Subtopic 985 “Software” collectively referred to as “Topic 605”. The beginning balance of deferred revenue decreased by $258 representing amounts that were invoiced to customers and not recognized and prepaid and other current assets increased by $163 representing unbilled receivables recognized under Topic 606. Further, accounts receivable increased $199 as the contra accounts receivable balance representing estimated product returns was reclassified to other current liabilities.

The most significant impact of Topic 606 relates to the Company’s accounting for software license agreements which have multiple deliverables. Under Topic 605 the Company could not establish vendor specific objective evidence of fair value (“VSOE”) for its undelivered elements and therefore was not able to separate its delivered software licenses from its future undelivered software license releases. Topic 606 no longer requires separability of promised goods, such as software licenses, on the basis of VSOE. Rather, Topic 606 requires the Company to identify the performance obligations in the contract — that is, those promised goods and services (or bundles of promised goods or services) that are distinct — and allocate the transaction price of the contract to those performance obligations on the basis of estimated standalone selling prices (“SSPs”). For these arrangements, the Company will recognize revenue for each deliverable at a point in time when control is transferred to the customer since each deliverable has standalone value.

The primary impact of adopting the new standard results in an acceleration of revenues recognized for the aforementioned multiple deliverable software license arrangements, which are primarily in the Embedded Solutions segment. These multiple deliverable arrangements represented less than 2% of total consolidated revenues for the year ended December 31, 2017.

The timing of revenue recognition for digital signal processing hardware in the Embedded Solutions segment, radio frequency solutions in the Network Solutions segment and noise generators and components and power meters and analyzers and related services in the Test and Measurement segment remains substantially unchanged.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

	Three Months Ended March 31, 2018
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME	As Reported (in Accordance with ASC Topic 606)		Balances Without Adoption of ASC Topic 606		Impact of Adoption Higher/(Lower)
Net sales	$	13,264	$	12,958	$	306
Operating income		430		124		306
Net income		374		68		306

	As of March 31, 2018
CONDENSED CONSOLIDATED BALANCE SHEET	As Reported (in Accordance with ASC Topic 606)		Balances Without Adoption of ASC Topic 606		Impact of Adoption Higher/(Lower)
CURRENT ASSETS
Prepaid expenses and other current assets	$	1,725	$	1,241	$	484
CURRENT LIABILITIES
Deferred revenue		808		1,068		(260	)
SHAREHOLDERS’ EQUITY
Retained earnings		7,971		7,665		306

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations: Clarifying the Definition of a Business Topic 805 (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017, and early adoption is permitted. The Company adopted this standard on January 1, 2018 and will apply the standard to any future business combinations.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230); Classification of Certain Cash Receipts and Cash Payments, to address some questions about the presentation and classification of certain cash receipts and payments in the statement of cash flows. The update addresses eight specific issues, including contingent consideration payments made after a business combination, distribution received from equity method investees and the classification of cash receipts and payments that have aspects of more than one class of cash flows. This standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted this standard on January 1, 2018, and it had no material impact on our financial statements.

Except for the change in accounting policies for revenue recognition as a result of adopting Topic 606, there have been no other changes to our significant accounting policies as described in the 2017 Form 10-K that had a material impact on our condensed consolidated financial statements and related notes.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Recent Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted.

The Company is currently evaluating its population of leases and is continuing to assess all potential impacts of ASU 2016-02. The Company does anticipate recognition of additional assets and corresponding liabilities related to leases upon adoption, but has not yet quantified these at this time. The Company plans to adopt the standard effective January 1, 2019, but has not yet selected a transition method.

NOTE 3 – REVENUE

Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for promised goods or services. The Company’s performance obligations are satisfied either over time or at a point in time. Revenue from performance obligations that transferred at a point in time accounted for approximately 94% of the Company’s total revenue for the three months ended March 31, 2018.

Nature of Products and Services

Hardware

The Company generally has one performance obligation in its arrangements involving the sales of radio frequency solutions in the Network Solutions segment, digital signal processing hardware in the Embedded Solutions segment and noise generators and components and power meter and analyzers in the Test and Measurement segment. When the terms of a contract include the transfer of multiple products, each distinct product is identified as a separate performance obligation. Generally, satisfaction occurs when control of the promised goods is transferred to the customer in exchange for consideration in an amount for which we expect to be entitled. Generally, control is transferred when legal title of the asset moves from the Company to the customer. We sell our products to a customer based on a purchase order, and the shipping terms per each individual order are primarily used to satisfy the single performance obligation. However, in order to determine control has transferred to the customer, the Company also considers:

	·	when the Company has a present right to payment for the asset
	·	when the Company has transferred physical possession of the asset to the customer
	·	when the customer has the significant risks and rewards of ownership of the asset
	·	when the customer has accepted the asset

Software

Arrangements involving licenses of software in the Embedded Solutions segment may involve multiple performance obligations, most notably subsequent releases of the software. The Company has concluded that each software release in a multiple deliverable arrangement in the Embedded Solutions segment is a distinct performance obligation and, accordingly, transaction price is allocated to each release when the customer obtains control of the software.

Performance obligations that are not distinct at contract inception are combined. Specifically, with the Company’s sales of software, contracts that include customization may result in the combination of the customization services with the license as one distinct performance obligation and recognized over time. The duration of these performance obligations are typically one year or less.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Services

Arrangements involving calibration and repair services in the Company’s Test and Measurement segment are generally considered a single performance obligation and are recognized as the services are rendered.

Shipping and Handling

Shipping and handling activities performed after the customer obtains control are accounted for as fulfillment activities and recognized as cost of revenues.

Significant Judgments

For the Company’s more complex software and services arrangements significant judgment is required in determining whether licenses and services are distinct performance obligations that should be accounted for separately, or, are not distinct, and thus accounted for together. Further, in cases where we determine that performance obligations should be accounted for separately, judgement is required to determine the standalone selling price for each distinct performance obligation.

Certain of the Company shipments include a limited return right. In accordance with Topic 606 the Company recognizes revenue net of expected returns.

Contract Balances

The timing of revenue recognition may differ from the timing of invoicing to customers and these timing differences result in contract assets or contract liabilities (deferred revenue) on the Company’s condensed consolidated balance sheet. The Company records a contract asset when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing. Contract assets are recorded in prepaid expenses and other current assets and are $484 and $162 as of March 31, 2018 and December 31, 2017 (as adjusted), respectively. The increase in contract assets from December 31, 2017 is due to contract assets recognized in the current period. Deferred revenue is $808 and $371 as of March 31, 2018 and December 31, 2017 (as adjusted), respectively. Revenue recognized in the current period that was included in the opening deferred revenue balance was $163.

Disaggregated Revenue

	Three Months Ended March 31, 2018
Total Net Revenues by Revenue Type	Network Solutions		Test and Measurement		Embedded Solutions		Total
RF Solutions	$	5,511	$	-	$	-	$	5,511
Noise Generators and Components		-		1,499		-		1,499
Power Meters and Analyzers		-		1,980		-		1,980
Signal Processing Hardware		-		-		2,906		2,906
Software Licenses		-		-		483		483
Services		-		284		601		885
Total Net Revenue	$	5,511	$	3,763	$	3,990	$	13,264

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Total Net Revenues By Geographic Areas		Network Solutions		Test and Measurement		Embedded Solutions		Total
Americas		$	4,159	$	2,515	$	1,423	$	8,097
EMEA			941		449		2,370		3,760
APAC			411		799		197		1,407
Total Net Revenue		$	5,511	$	3,763	$	3,990	$	13,264

	Three Months Ended March 31, 2017
Total Net Revenues By Revenue Type		Network Solutions		Test and Measurement		Embedded Solutions		Total
RF Solutions		$	5,515	$	-	$	-	$	5,515
Noise Generators and Components			-		1,217		-		1,217
Power Meters and Analyzers			-		1,536		-		1,536
Signal Processing Hardware			-		-		382		382
Software Licenses			-		-		85		85
Services			-		284		530		814
Total Net Revenue		$	5,515	$	3,037	$	997	$	9,549

Total Net Revenues by Geographic Areas		Network Solutions		Test and Measurement		Embedded Solutions		Total
Americas			4,710		1,690		565		6,965
EMEA			572		554		397		1,523
APAC			233		793		35		1,061
Total Net Revenue			5,515		3,037		997		9,549

NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets generally consist of income tax receivables, prepaid insurance, prepaid maintenance agreements and the short term portion of debt issuance costs. As of December 31, 2017, prepaid and other current assets included a $3,599 contingent asset representing the fair value of consideration shares issued in connection with the CommAgility acquisition. Under the claw back provision of the Share Purchase Agreement (see Note 5) the consideration shares were forfeited in March 2018 and are no longer outstanding. Accordingly, prepaid expenses and other current assets decreased by $3,599 from December 31, 2017. The forfeited shares are recorded as treasury stock in the condensed consolidated statement of shareholders’ equity as of March 31, 2018.

NOTE 5 – ACQUISITION OF COMMAGILITY

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

newly issued Company common stock (“Consideration Shares”) with an acquisition date fair value of $6,000. In addition to the acquisition date cash purchase price the sellers were paid an additional $2,500 in the form of deferred purchase price payable in installments beginning in March 2017 through January 2019 and were paid an additional purchase price adjustment based on working capital and cash levels of $1,400. Lastly, the sellers could have earned an additional £10,000 in purchase price if certain financial targets were met for the years ending December 31, 2017 and December 31, 2018. (See Note 1).

Pursuant to the Share Purchase Agreement, 2,093 of the Consideration Shares were subject to forfeiture and return to the Company if (a) 2017 Adjusted EBITDA, as defined, generated by CommAgility is less than £2,400; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility is less than £2,400 (in each case as determined by an audit of CommAgility conducted by the accountants of the Acquisition Subsidiary in accordance with the terms of the Share Purchase Agreement). During the three months ended March 31, 2018 all consideration shares were forfeited as the 2017 EBITDA threshold was not achieved. The fair value of these shares of $3,599 is recorded in treasury stock as of March 31, 2018.

The following table summarizes the activity related to contingent consideration and deferred purchase price for the three months ended March 31, 2018:

	Contingent Consideration		Deferred Purchase Price
Balance at December 31, 2017	$	630	$	1,230
Accretion of Interest		24		-
Payment		-		(811	)
Foreign Currency Translation		24		48
Balance as of March 31, 2018	$	678	$	467

As of March 31, 2018, contingent consideration liability and deferred purchase price are included in accrued expenses and other current liabilities on the condensed consolidated balance sheet.

NOTE 6 – INCOME TAXES

The Company records deferred taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Accounting for Income Taxes.” ASC 740 requires recognition of deferred tax assets and liabilities for temporary differences between tax basis of assets and liabilities and the amounts at which they are carried in the financial statements, based upon the enacted rates in effect for the year in which the differences are expected to reverse. The Company establishes a valuation allowance when necessary to reduce deferred tax assets to the amount expected to be realized. The Company periodically assesses the value of its deferred tax assets and determines the necessity for a valuation allowance.

Realization of the Company’s deferred tax assets is dependent upon the Company generating sufficient taxable income in the appropriate tax jurisdictions in future years to obtain benefit from the reversal of net deductible temporary differences and from utilization of net operating losses. The amount of deferred tax assets considered realizable is subject to adjustment in future periods if estimates of future taxable income are changed.

The effective rate of income tax provision of 13% for the three months ended March 31, 2018 was lower than the statutory rates in the United States and United Kingdom primarily due to research and development deductions in the United Kingdom and non-qualified stock option deductions offset by nondeductible expenses and U.S. state income taxes.

NOTE 7 - INCOME (LOSS) PER COMMON SHARE

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

is calculated by dividing income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options using the treasury stock method and unvested restricted shares. In periods with a net loss, the basic loss per share equals the diluted loss per share as all common stock equivalents are excluded from the per share calculation because they are anti-dilutive. In accordance with ASC 260, “Earnings Per Share”, the following table reconciles basic shares outstanding to fully diluted shares outstanding.

	For the Three Months Ended March 31,
	2018		2017

Weighted average common shares outstanding		20,644		20,386
Potentially dilutive stock options		989		780

Weighted average common shares outstanding, assuming dilution		21,633		21,166

Common stock equivalents are included in the diluted income (loss) per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented.

The weighted average number of options to purchase common stock not included in diluted loss per share, because the effects are anti-dilutive, was 0 and 1,413 for the three months ended March 31, 2018 and 2017, respectively.

NOTE 8 – INVENTORIES

Inventory carrying value is net of inventory reserves of $1,732 and $1,856 at March 31, 2018 and December 31, 2017, respectively.

Inventories consist of:	March 31, 2018		December 31, 2017
Raw materials	$	3,678	$	3,231
Work-in-process		592		631
Finished goods		2,783		2,664
	$	7,053	$	6,526

NOTE 9 – GOODWILL AND INTANGIBLE ASSETS

The Company’s goodwill balance of $10,598 at March 31, 2018 relates to two of the Company’s reporting units, Microlab ($1,351) and Embedded Solutions ($9,247). Management’s qualitative assessment performed in the fourth quarter of 2017 did not indicate any impairment of Microlab’s goodwill as its fair value was estimated to be in excess of its carrying value. Furthermore, no events have occurred since then that would change this assessment.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Goodwill consists of the following:

	March 31, 2018
Beginning Balance	$	10,260
Foreign Currency Translation		338
Ending Balance	$	10,598

Intangible assets consist of the following:

	March 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Foreign Exchange Translation		Net Carrying Amount
Customer Relationships	$	2,766	$	(646	)	$	268	$	2,388
Patents		615		(143	)		59		531
Non Compete Agreements		1,107		(436	)		100		771
Tradename		629		-			72		701
Total	$	5,117	$	(1,225	)	$	499	$	4,391

	December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Foreign Exchange Translation		Net Carrying Amount
Customer Relationships	$	2,766	$	(494	)	$	178	$	2,450
Patents		615		(109	)		39		545
Non Compete Agreements		1,107		(334	)		69		842
Tradename		629		-			45		674
Total	$	5,117	$	(937	)	$	331	$	4,511

Amortization of acquired intangible assets was $287 and $200 for the three months ended March 31, 2018 and 2017, respectively. Amortization of acquired intangible assets is included as part of general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income/(loss).

The estimated future amortization expense related to intangible assets is as follows as of March 31, 2018:

Remainder 2018	$	873
2019		1,165
2020		805
2021		754
2022		94
Total	$	3,691

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

NOTE 10 – DEBT

Debt consists of the following:

	March 31, 2018
Revolver at LIBOR Plus Margin	$	2,595
Term Loan at LIBOR Plus Margin		608
Total Debt		3,203
Debt Maturing within one year		(2,747)
Non-current portion of long term debt	$	456

In connection with the acquisition of CommAgility, the Company entered into a Credit Agreement with Bank of America, N.A. (the “Lender”) on February 16, 2017 (the “New Credit Facility”), which provided for a term loan in the aggregate principal amount of $760 (the “Term Loan”) and an asset based revolving loan (the “Revolver”), which is subject to a Borrowing Base Calculation (as defined in the New Credit Facility) of up to a maximum availability of $9,000 (“Revolver Commitment Amount”). The borrowing base is calculated as 85% of Eligible accounts receivable and inventory, as defined, subject to certain caps and limits. The borrowing base is calculated on a monthly basis. The proceeds of the term loan and revolver were used to finance the acquisition of CommAgility.

In connection with the issuance of the New Credit Facility, the Company paid lender and legal fees of $215 which were primarily related to the Revolver and are capitalized and presented as other current and non-current assets in the Consolidated Balance Sheets. These costs are recognized as additional interest expense over the term of the related debt instrument using the straight line method.

The Company must repay the Term Loan in installments of $38 per quarter due on the first day of each fiscal quarter beginning April 1, 2017 and continuing until the term loan maturity date, on which the remaining balance is due in a final installment. The future principal payments under the term loan are $114 in 2018 and $494 in 2019. The Term Loan and Revolver are both scheduled to mature on November 16, 2019.

The Term and Revolver Loans bear interest at the LIBOR rate plus a margin. The margin on the outstanding balance of the Company’s Term Loans and Revolver Loans were fixed at 3.50% and 3.00% per annum, respectively, through September 30, 2017. Thereafter, the margins were subject to increase or decrease by Lender on the first day of each of the Borrowers’ fiscal quarters based upon the Fixed Charge Coverage Ratio (as defined in the New Credit Facility) as of the most recently ended fiscal quarter falling into three levels. If the Company’s Fixed Charge Coverage Ratio is greater than or equal to 1.25 to 1.00, a margin of 3.25% and 2.75%, respectively, is added to LIBOR rate with a step up to 3.50% and 3.00%, respectively, if the ratio is greater than or equal to 1.00 to 1.00 but less than 1.25 to 1.00 and another step up to 3.75% and 3.25%, respectively, if the ratio is less than 1.00 to 1.00. The Company is also required to pay a commitment fee on the unused commitments under the Revolver at a rate equal to 0.50% per annum and early termination fee of (a) 2% of the Revolver Commitment Amount and Term Loan if termination occurs before the first anniversary of the New Credit Facility or (b) 1% of the Revolver Commitment Amount and Term Loan if termination occurs after the first anniversary of the New Credit Facility but before the second anniversary of the New Credit Facility. The Company’s interest rate plus margin as of March 31, 2018 on the New Credit Facility was 4.75% and 5.25% for the Revolver and Term Loan, respectively. The Company’s interest rate plus margin as of December 31, 2017 on the New Credit Facility was 4.38% and 4.88% for the Revolver and Term Loan, respectively.

The New Credit Facility is secured by liens on substantially all of the Company’s and its domestic subsidiaries’ assets including a pledge of 66 2/3% of the equity interests in the Company’s Foreign Subsidiaries (as defined in the New Credit Facility). The New Credit Facility contains customary affirmative and negative covenants for a transaction of this type, including, among others, the provision of annual, quarterly and monthly financial statements and compliance certificates, maintenance of property, insurance, compliance with laws and environmental matters, restrictions on incurrence of indebtedness, granting of liens, making investments and acquisitions, paying dividends, entering into affiliate transactions and asset sales. Events of default under the New Credit Facility include but are not limited to: failure to pay obligations when due, breach or failure of any covenant, insolvency or bankruptcy, materially misleading representations or warranties, occurrence of a Change in Control (as defined) or occurrence of conditions that have a Material Adverse Effect (as defined).

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

On August 3, 2017 the Company entered into Amendment No. 1 to the New Credit Facility, effective June 30, 2017, which amended the definition of “EBITDA” to exclude the non-cash inventory adjustment of $1,930 recorded during the three months ended June 30, 2017 and to reduce the pledge of equity interests in the Company’s Foreign Subsidiaries from 66 2/3% to 66 1/3%.

As of March 31, 2018, and the date hereof, the Company is in compliance with the covenants of the New Credit Facility.

NOTE 11 - ACCOUNTING FOR SHARE BASED COMPENSATION

The Company’s results for the three months ended March 31, 2018 and 2017 include share-based compensation expense totaling $188 and $301, respectively. Such amounts have been included in the consolidated statement of operations and comprehensive income/loss within operating expenses. The Company accounts for forfeitures when they occur.

Incentive Compensation Plan:

In 2012, the Company’s Board of Directors and shareholders approved the 2012 Incentive Compensation Plan (the “Initial 2012 Plan”), which provides for the grant of equity, including restricted stock awards, non-qualified stock options and incentive stock options in compliance with the Internal Revenue Code of 1986, as amended, to employees, officers, directors, consultants and advisors of the Company who are expected to contribute to the Company’s future growth and success. When originally approved, the Initial 2012 Plan provided for the grant of awards relating to 2,000 shares of common stock, plus those shares subject to awards previously issued under the Company’s 2000 Stock Option Plan that expire, are canceled or are terminated after adoption of the Initial 2012 Plan without having been exercised in full and would have been available for subsequent grants under the 2000 Stock Option Plan. In June 2014, the Company’s shareholders approved the Amended and Restated 2012 Incentive Compensation Plan (the “2012 Plan”) allowing for an additional 1,658 shares of the Company’s common stock to be available for future grants under the 2012 Plan. The 2012 Plan provides that if awards are forfeited, expire or otherwise terminate without issuance of the shares underlying the awards, or if the award does not result in issuance of all or part of the shares underlying the award, the unissued shares are again available for awards under the 2012 Plan. As a result of certain award forfeitures and cancellations, as of March 31, 2018, there are approximately 2,500 shares available for issuance under the 2012 Plan.

All service-based (time vesting) options granted have ten-year terms from the date of grant and typically vest annually and become fully exercisable after a maximum of five years. However, vesting conditions are determined on a grant by grant basis. Performance-based options granted have ten-year terms and vest and become fully exercisable when determinable performance targets are achieved. Performance targets are approved by the Company’s compensation committee of the Board of Directors. Under the 2012 Plan, options may be granted to purchase shares of the Company’s common stock exercisable only at prices equal to or above the fair market value on the date of the grant.

The following summarizes the components of share-based compensation expense by equity type for the respective periods:

	Three Months Ended March 31
	2018		2017
Service-based Restricted Common Stock	$	63	$	57
Performance-based Restricted Common Stock		-		5
Performance-based Stock Options		12		59
Service-based Stock Options		113		180
	$	188	$	301

As of March 31, 2018, $444 of unrecognized compensation costs related to unvested stock options is expected to be recognized over a remaining weighted average period of 2.6 years and $37 of unrecognized compensation costs related to unvested restricted shares is expected to be recognized over a remaining weighted average period of 0.6 years.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Restricted Common Stock Awards:

	Shares		Weighted Average Grant Date Fair Value
Non-vested as of December 31, 2017		159		$1.64
Granted		-		-
Vested and Issued		-		$1.34
Forfeited		-		-
Non-vested as of March 31, 2018		159		$1.64

Performance-Based Stock Option Awards:

A summary of performance-based stock option activity, and related information for the three months ended March 31, 2018 follows:

	Shares			Weighted Average Option Exercise Price per Share
Outstanding as of December 31, 2017		605			$1.21
Granted		-			-
Exercised		(300	)		$0.96
Forfeited		-			-
Expired		-			-
Outstanding as of March 31, 2018		305			$1.45

Exercisable at March 31, 2018		20			$0.78

The aggregate intrinsic value of performance-based stock options outstanding (regardless of whether or not such options are exercisable) as of March 31, 2018 was $303 and the weighted average remaining contractual life was 7.4 years. The aggregate intrinsic value of performance-based stock options exercisable as of March 31, 2018 was $33 and the weighted average remaining contractual life was 2.7 years. The intrinsic value of options exercised during the three months ended March 31, 2018 was $444.

Under the terms of the performance-based stock option agreements, the awards will fully vest and become exercisable on the date on which the Company’s Board of Directors shall have determined that specific financial performance milestones have been met, provided the employee remains in the employ of the Company at such time; provided, however, upon a Change in Control (as defined in the stock option agreements and the 2012 Plan), the stock options shall automatically vest as permitted by the 2012 Plan. As of December 31, 2017, the Company has determined that the performance conditions on 285 options granted in 2013 and later are probable of being achieved by the year ending 2021. The Company’s performance-based stock options granted prior to 2013 (consisting of 20 options) are fully amortized.

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

Service-Based Stock Option Awards:

A summary of service-based stock option activity and related information for the three months ended March 31, 2018 follows:

	Shares		Weighted Average Option Exercise Price per Share
Outstanding as of December 31, 2017		1,815		$1.53
Granted		-		-
Exercised		-		-
Forfeited		-		-
Expired		-		-
Outstanding as of March 31, 2018		1,815		$1.53

Exercisable at March 31, 2018		658		$1.42

The aggregate intrinsic value of service-based stock options (regardless of whether or not such options are exercisable) as of March 31, 2018 was $1,660 and the weighted average remaining contractual life was 8.6 years. The aggregate intrinsic value of service-based stock options exercisable as of March 31, 2018 was $675 and the weighted average remaining contractual life was 8.2 years.

NOTE 12 – SEGMENT INFORMATION

The operating businesses of the Company are segregated into three reportable segments: (i) Network Solutions, (ii) Test and Measurement and (iii) Embedded Solutions.

Network Solutions

The Network Solutions segment is comprised primarily of the operations of the Company’s subsidiary, Microlab. Network Solutions designs and manufactures a wide selection of RF passive components and integrated subsystems for signal conditioning and distribution in the wireless infrastructure markets, particularly for small cell deployments, DAS, the in-building wireless solutions industry and radio base-station market. Network Solutions also offers active solution sets to assist in network timing for tunnels and in-building wireless signaling. Network Solutions external customers include telecommunications service providers, systems integrators, neutral host operators and distributors.

Test and Measurement

The Test and Measurement segment is comprised primarily of the Company’s operations of the Noisecom product line and the operations of its subsidiary, Boonton. Noisecom designs and produces noise generation equipment and instruments, calibrated noise sources, noise modules and diodes. Noise components and instruments are used as a method to provide wide band signals for sophisticated telecommunication and defense applications, and as a stable reference standard for instruments and systems, including radar and satellite communications. Boonton products are also used to test terrestrial and satellite communications, radar and telemetry. Certain power meter products are designed for measuring signals based on wideband modulation formats, allowing a variety of measurements to be made, including maximum power, peak power, average power and minimum power. Customers of the Test and Measurement segment include large defense contractors and the U.S. and foreign governments.

Embedded Solutions

The Embedded Solutions segment is comprised of the operations of CommAgility Limited which was acquired on February 17, 2017. Embedded Solutions supplies signal processing technology for network validation systems supporting LTE and emerging 5G networks. Additionally, this segment licenses, implements and configures LTE PHY layer and stack software for private LTE networks supporting satellite communications, the military and

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

aerospace industries. Customers include wireless communication test equipment companies, defense subcontractors and global technology and services companies.

The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. The Company allocates resources and evaluates the performance of segments based on income or loss from operations, excluding interest, corporate expenses and other income (expenses).

Financial information by reportable segment for the respective periods is set forth below:

	For the three months ended March 31,
	2018			2017
Net sales by segment:
Network Solutions	$	5,511		$	5,515
Test and Measurement		3,763			3,037
Embedded Solutions		3,990			997
Total consolidated net sales of reportable segments	$	13,264		$	9,549

Segment income (loss):
Network Solutions	$	813		$	908
Test and Measurement		510			25
Embedded Solutions		611			(229	)
Income (loss) from reportable segments		1,934			704

Other unallocated amounts:
Corporate expenses		(1,413	)		(2,422	)
Other (expenses) income - net		(91	)		(51	)
Consolidated income/(loss) before Income tax provision/(benefit)	$	430		$	(1,769	)

Depreciation and amortization by segment:
Network Solutions	$	136		$	102
Test and Measurement		175			93
Embedded Solutions		315			219
Total depreciation and amortization for reportable segments	$	626		$	414

Capital expenditures by segment:
Network Solutions	$	78		$	84
Test and Measurement		102			66
Embedded Solutions		19			42
Total consolidated capital expenditures by reportable segment	$	199		$	192

WIRELESS TELECOM GROUP, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(In thousands, unless otherwise noted)

	March 31,		December 31,
	2018		2017
Total assets by segment:
Network Solutions	$	11,046	$	10,442
Test and Measurement		6,559		6,163
Embedded Solutions		19,628		21,733
Total assets for reportable segments		37,233		38,338

Corporate assets, principally cash and cash equivalents and deferred income taxes		8,890		8,583
Total consolidated assets	$	46,123	$	46,921

Consolidated net sales by region were as follows:

	Three Months Ended March 31
	2018		2017
Sales by region
Americas	$	8,097	$	6,965
Europe, Middle East, Africa (EMEA)		3,760		1,523
Asia Pacific (APAC)		1,407		1,061
Total sales	$	13,264	$	9,549

Net sales are attributable to a geographic area based on the destination of the product shipment.

The majority of shipments in the Americas are to customers located within the United States. For the three months ended March 31, 2018 and 2017, revenues in the United States for all reportable segments amounted to $7,946 and $6,465, respectively.

Shipments for the three months ended March 31, 2108 to the EMEA region for all reportable segments were largely concentrated in the UK and Luxembourg at $2,261 and $313, respectively. For the three months ended March 31, 2017 shipments were largely concentrated in United Kingdom and Germany amounting to $596 and $212 , respectively.

The largest concentration of shipments in the APAC region is to China. For the three month period ending March 31, 2018 and 2017, shipments to China amounted to $956 and $650, respectively.

NOTE 13 – COMMITMENTS AND CONTINGENCIES

There have been no material changes in our commitments and contingencies and risks and uncertainties as of March 31, 2018 from that as previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2017.

ITEM 2 – MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of our financial condition and results of operations should be read in conjunction with our interim condensed consolidated financial statements and the notes to those statements included in Part I, Item I of this Quarterly Report on Form 10-Q and in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017.

INTRODUCTION

Highlights from the First Quarter:

Net revenues of $13.3 million for the three months ended March 31, 2018, a year over year increase of 38.9% reflecting the inclusion of the new Embedded Solutions segment for a full quarter.

Income before taxes of $0.4 million for the three months ended March 31, 2018 compared to a loss before taxes of $1.8 million in the year ago period.

New customer orders of $13.9 million for the three months ended March 31, 2018 resulting in an increase in backlog of $0.7 million from December 31, 2017.

Cash used from operations of $1.0 million for the three months ended March 31, 2018 due to working capital increases.

RESULTS OF OPERATIONS

Three Months Ended March 31, 2018 Compared with Three Months Ended March 31, 2017

Net Revenues (in thousands)

	Three months ended March 31
	Revenue				% of Revenue						Change
	2018		2017		2018			2017			Amount			Pct.
Network Solutions	$	5,511	$	5,515		41.5	%		57.8	%	$	(4	)		-0.1	%
Test and Measurement		3,763		3,037		28.4	%		31.8	%		726			23.9	%
Embedded Solutions		3,990		997		30.1	%		10.4	%		2,993			300.2	%
Total net revenues	$	13,264	$	9,549		100.0	%		100.0	%	$	3,715			38.9	%

Net consolidated revenues increased $3.7 million due primarily to the inclusion of the Embedded Solutions segment for a full quarter in 2018 compared to only 43 days in 2017 as well as increased shipments of digital signal processing hardware and the favorable impact of foreign exchange. Test and Measurement segment revenue increased primarily due to higher sales to U.S. government customers as compared to the prior year period. Network Solutions revenue is flat compared to the prior year period.

Gross Profit (in thousands)

	Three months ended March 31
	Gross Profit				Gross Profit %						Change
	2018		2017		2018			2017			Amount			Pct.
Network Solutions	$	2,442	$	2,461		44.3	%		44.6	%	$	(19	)		-0.8	%
Test and Measurement		1,845		1,334		49.0	%		43.9	%		511			38.3	%
Embedded Solutions		1,981		538		49.6	%		54.0	%		1,443			268.2	%
Total gross profit	$	6,268	$	4,333		47.3	%		45.4	%	$	1,935			44.7	%

Consolidated gross profit for the three months ended March 31, 2018 increased $1.9 million from the prior year period on higher revenues. Gross profit margin increased from 45.4% to 47.3%. Test and Measurement gross profit margin increased from 43.9% to 49.0% as a result of favorable product mix. Network Solution gross profit margin was flat on consistent sales. Embedded Solutions gross profit margin declined from 54.0% to 49.6% due to the higher volume of hardware sales in the three months ended March 31, 2018 as compared to the prior year. Embedded Solutions hardware sales, which have a lower gross profit margin, represented approximately 73% of the Embedded Solutions net revenues in the three months ended March 31, 2018 as compared to 38% of net revenues in the prior year period.

Operating Expenses (in thousands)

	Three months ended March 31,
	Expense				% of Revenue						Change
	2018		2017		2018			2017			Amount			Pct.
Research and Development	$	1,157	$	1,087		8.7	%		11.4	%	$	70			6.4	%
Sales and Marketing		1,910		1,552		14.4	%		16.3	%		358			23.1	%
General and Administrative		2,681		3,412		20.2	%		35.7	%		(731	)		-21.4	%
Total Operating Expenses	$	5,748	$	6,051		43.3	%		63.4	%	$	(303	)		-5.0	%

Research and development expenses increased modestly from the prior year period as decreases in third party spending in the Test and Measurement and Network Solutions segments were offset by the impact of a full quarter of research and development expense in Embedded Solutions as compared with the 43 day period in the prior year period, in addition to unfavorable foreign exchange impacts.

Sales and marketing expenses increased $0.4 million over the prior year period primarily due to increased sales headcount specifically in the US as well as the full quarter of sales and marketing expenses in the Embedded Solutions segment.

General and administrative expenses decreased $0.7 million due to acquisition and closing expenses associated with the CommAgility acquisition that were incurred in the three months ended March 31, 2017 of approximately $1.2 million. The decrease year over year of acquisitions expense was offset by a full quarter of general and administrative expenses in the Embedded Solutions segment.

Interest Expense

Interest expense increased $43 thousand as we realized a full quarter of cash interest expense associated with our new credit facility and amortization of capitalized debt issuance costs in the three months ended March 31, 2018 versus the 43 day period in 2017.

Taxes

For the three months ended March 31, 2018 the Company recorded tax expense of $56 thousand due primarily to income generated from the Company’s operations. In the prior year period the Company recorded a tax benefit of $0.5 million due to losses generated from the Company’s operations.

Net Income

For the three months ended March 31, 2018, the Company realized net income of $0.4 million or $.02 per share on a basic and diluted basis, as compared to a net loss of $1.2 million or $.06 loss per share on a basic and diluted basis for the three months ended March 31, 2017. The increase in net income year over year was due to the factors discussed above.

LIQUIDITY AND CAPITAL RESOURCES

We expect our existing cash balance, cash generated by operations and borrowings available under our New Credit Facility (as described in Note 10) to be our primary sources of short-term liquidity, and we believe these sources will be sufficient to meet our liquidity needs for at least the next twelve months. Our ability to meet our cash requirements will depend on our ability to generate cash in the future, which is subject to general economic, financial, competitive, legislative, regulatory and other factors that are beyond our control.

The Company expects to realize tax benefits in future periods due to the available net operating loss carryforwards resulting from the disposition of a former wholly owned subsidiary in 2010. Accordingly, future taxable income is expected to be offset by the utilization of operating loss carryforwards and as a result will increase the Company’s liquidity as cash needed to pay federal income taxes will be substantially reduced.

Cash and cash equivalents decreased from $2.5 million at December 31, 2017 to $2.2 million primarily due to the cash used by operating activities, capital expenditures and payment of deferred purchase price related to the CommAgility acquisition, offset by cash generated by our borrowings under our New Credit Facility. As of March 31, 2018, substantially all of our cash and cash equivalents are held outside the United States. The asset based Revolver under our Credit Facility is secured by the Company’s U.S. assets. Income taxes have been provided on foreign earnings such that there would be no significant income tax expense to repatriate the portion of this cash that is not required to meet operational needs of our international subsidiary.

Operating Activities

Cash used by operating activities was $1.0 million for the three months ended March 31, 2018 which is flat with the prior year period. During the three months ended March 31, 2018 changes in our operating assets and liabilities resulted in a net decrease in cash of $2.2 million primarily due to increase in accounts receivable, inventory and prepaids and other current assets. The increase in working capital was offset by positive income from operations. During the three months ended March 31, 2017, cash used by operations was primarily due to the operating loss incurred in the period.

Investing Activities

Cash used by investing activities was $1.0 million for the three months ended March 31, 2018 and was primarily comprised of capital expenditures and payment of deferred purchase price for the CommAgility acquisition. For the three months ended March 31, 2017 cash used by investing activities was $8.8 million and was primarily related to the cash purchase price of the CommAgility acquisition.

Financing Activities

Cash provided by financing activities was $1.7 million for the three months ended March 31, 2018 as compared to cash provided of $2.5 million for the three months ended March 31, 2017. The decrease from the prior year is primarily due to the receipt of cash from the Term Loan under the New Credit Facility in the prior year period.

As of March 31, 2018, future minimum lease payments related to the Company’s facility lease and equipment leases are shown below (purchase obligations consist of inventory that arises in the normal course of business operations) (in thousands):

	Total		Remaining 2018		2019		2020		2021		2022		Thereafter
Facility Leases	$	2,467	$	409	$	513	$	460	$	474	$	488	$	123
Purchase Obligations		7,888		7,888		-		-		-		-		-
Operating and Equipment Leases		212		41		54		54		54		9		-
	$	10,567	$	8,338	$	567	$	514	$	528	$	497	$	123

The Company may pursue strategic opportunities, including potential acquisitions, mergers, divestitures or other activities, which may require significant use of the Company’s capital resources. The Company may incur costs as a result of such activities and such activities may affect the Company’s liquidity in future periods. In order to fund such activities, the Company may need to incur additional debt or issue additional securities if market conditions are favorable. However, there can be no certainty that such funding will be available in needed quantities on terms favorable to the Company or at all.

The Company believes that its financial resources from working capital and availability under the asset-based Revolver are adequate to meet its current needs. The Company expects the cash flow of CommAgility to fund the deferred purchase price and contingent consideration liabilities related to the CommAgility acquisition. However, should current global economic conditions deteriorate, additional working capital funding may be required which may be difficult to obtain due to restrictive credit markets and covenants of our New Credit Facility.

OFF-BALANCE SHEET ARRANGEMENTS

The Company does not have any off-balance sheet arrangements.

EFFECTS OF INFLATION AND CHANGING PRICES

The Company does not anticipate that inflation or other expected changes in prices will significantly impact its business.

Critical Accounting Policies

There have been no changes in our critical accounting policies or significant accounting estimates as disclosed in our 2017 Form 10-K, except for adoption of Topic 606 which is described in Note 2.

FORWARD LOOKING STATEMENTS

The statements contained in this Quarterly Report on Form 10-Q that are not historical facts, including, without limitation, some of the statements under “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements about our sources of short-term liquidity and our belief that these sources will be sufficient to meet our liquidity needs for at least the next 12 months; that financial resources from working capital and our availability under the asset-based revolver are adequate to meet our current needs; and that cash flow from CommAgility will fund the deferred purchase price and contingent consideration. These statements involve risks and uncertainties. These statements are based on the Company’s current expectations of future events and are subject to a number of risks and uncertainties that may cause the Company’s actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the ability of our management to successfully implement our business plan and strategy, product demand and development of competitive technologies in our market sector, the impact of competitive products and pricing, the loss of any significant customers, our abilities to protect our property rights, the effects of adoption of newly announced accounting standards, the effects of economic conditions and trade, legal and other economic risks, our ability to manage risks related to our information technology and cyber security, among others. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These risks and uncertainties are disclosed in our Annual Report on Form 10-K for the year ended December 31, 2017 and elsewhere in this Quarterly Report on Form 10-Q. The Company’s forward-looking statements speak only as of the date of this Quarterly Report. The Company undertakes no obligation to publicly update or review any forward-looking statements whether as a result of new information, future developments or otherwise.

ITEM 3 – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4 – CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, as of the end of the period covered by this report, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended. Our disclosure controls and procedures are designed to ensure that the information required to be included in our Securities and Exchange Commission (“SEC”) reports is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that the information relating to Wireless Telecom Group, Inc., including our consolidated subsidiaries, is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure. Based on this evaluation, our principal executive officer and principal financial officer concluded that, as of the period covered by this report, our disclosure controls and procedures are effective.

(b) Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the three months ended March 31, 2018 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, as described in our 2017 Annual Report on Form 10-K.

PART II – OTHER INFORMATION

Item 1.

Legal Proceedings

There have been no material developments in the legal proceedings as previously disclosed in Part I, Item 3 of our Annual Report on Form 10-K for the year ended December 31, 2017.

Item 1A.

Risk Factors

There have been no material changes to our risk factors as previously disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2017.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3.

Defaults Upon Senior Securities

None.

Item 4.

Mine Safety Disclosures

Not applicable.

Item 5.

Other Information

None.

Item 6.

Exhibits

Exhibit
Number

Exhibit Description

3.1

Restated Certificate of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to our Annual Report on Form 10-K/A filed with the SEC on April 22, 2005, Commission File No. 1-11916)

3.2

Amended and Restated By-laws (incorporated herein by reference to Exhibit 3.1 to Wireless Telecom Group, Inc.’s Current Report on Form 8-K, filed on July 1, 2016, Commission File No. 011-11916)

31.1

Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2

Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1

Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2

Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101**

The following financial information from Wireless Telecom Group, Inc.’s Quarterly Report on Form 10-Q for the three months ended March 31, 2018, filed on May 9, 2018, formatted in Extensible Business Reporting Language (XBRL): (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss), (iii) Condensed Consolidated Statements of Cash Flows, (iv) Condensed Consolidated Statements of Shareholders’ Equity, and (v) the Notes to the Condensed Consolidated Financial Statements.

101.INS**

XBRL INSTANCE DOCUMENT

101.SCH**

XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT

101.CAL**

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT

101.DEF**

XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT

101.LAB**

XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT

101.PRE**

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT

** Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	WIRELESS TELECOM GROUP, INC.

Dated: May 9, 2018
	By:	/s/ Timothy Whelan
		Timothy Whelan
		Chief Executive Officer

Dated: May 9, 2018
	By:	/s/ Michael Kandell
		Michael Kandell
		Chief Financial Officer

EXHIBIT INDEX

Exhibits Number No.	Exhibit Description

31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2

Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1

Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2

Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101**

101.INS**

XBRL INSTANCE DOCUMENT

101.SCH**

XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT

101.CAL**

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT

101.DEF**

XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT

101.LAB**

XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT

101.PRE**

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT

EX-31.1 2 c91154_ex31-1.htm

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Timothy Whelan, certify that:

	1.	I have reviewed this Quarterly Report on Form 10-Q of Wireless Telecom Group, Inc.;

	2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

	3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

	4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)), for the registrant and have:

	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and to the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):

	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Dated: May 9, 2018

	By:	/s/ Timothy Whelan
		Timothy Whelan
		Chief Executive Officer

EX-31.2 3 c91154_ex31-2.htm

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael Kandell, certify that:

	1.	I have reviewed this Quarterly Report on Form 10-Q of Wireless Telecom Group, Inc.;

	2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

	3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

	4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)), for the registrant and have:

	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and to the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Dated: May 9, 2018

	By:	/s/ Michael Kandell
		Michael Kandell
		Chief Financial Officer

EX-32.1 4 c91154_ex32-1.htm

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF
2002, PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF THE UNITED STATES CODE

I, Timothy Whelan, Chief Executive Officer of Wireless Telecom Group, Inc. (the “Company”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

The Quarterly Report on Form 10-Q of the Company for the quarter ended March 31, 2018 (the “Report”) fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78m); and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 9, 2018

	By:	/s/ Timothy Whelan
		Timothy Whelan
		Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff on request.

EX-32.2 5 c91154_ex32-2.htm

Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF
2002, PURSUANT TO SECTION 1350 OF CHAPTER 63 OF TITLE 18 OF THE UNITED STATES CODE

I, Michael Kandell, Chief Financial Officer of Wireless Telecom Group, Inc. (the “Company”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 9, 2018

	By:	/s/ Michael Kandell
		Michael Kandell
		Chief Financial Officer

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WIRELESS TELECOM GROUP INC 10-Q --12-31 20979651 false 0000878828 Smaller Reporting Company 2018 Q1 2018-03-31

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES Basis of Presentation Wireless Telecom Group, Inc., a New Jersey corporation, together with its subsidiaries (“we”, “us”, “our” or the “Company”), is a global designer and manufacturer of advanced radio frequency (“RF”) and microwave components, modules, systems and instruments and currently markets its products and services worldwide under the Boonton, Microlab, Noisecom and CommAgility brands. Serving the wireless, telecommunication, satellite, military, aerospace, and semiconductor industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, long term evolution (“LTE”) physical layer (“PHY”) and stack software, power splitters and combiners, global positioning system (“GPS”) repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe. The condensed consolidated balance sheet as of March 31, 2018, the condensed consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2018 and 2017, the condensed consolidated statements of cash flows for the three months ended March 31, 2018 and 2017 and the condensed consolidated statement of shareholders’ equity for the three months ended March 31, 2018 have been prepared by the Company without audit. The condensed consolidated financial statements include the accounts of Wireless Telecom Group, Inc., doing business as and operating under the trade name, Noisecom, and its wholly owned subsidiaries including Boonton Electronics Corporation (“Boonton”), Microlab/FXR (“Microlab”), Wireless Telecommunications Ltd. and CommAgility Limited (“CommAgility”). All intercompany transactions and balances have been eliminated in consolidation. It is suggested that these interim condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements, and the notes thereto, included in the Company’s latest shareholders’ annual report (Form 10-K). Condensed Consolidated Financial Statements In the opinion of management, the accompanying condensed consolidated financial statements referred to above contain all necessary adjustments, consisting of normal accruals and recurring entries, which are necessary to fairly present the Company’s results for the interim periods being presented. The accounting policies followed by the Company are set forth in Note 1 to the Company’s financial statements included in its annual report on Form 10-K for the year ended December 31, 2017. Specific reference is made to that report since certain information and footnote disclosures normally included in financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP) have been reduced for interim periods in accordance with SEC rules. The results of operations for the three month period ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (including inventory valuation, accounts receivable valuation, valuation of deferred tax assets, intangible assets, estimated fair values of stock options and estimated fair values of acquired assets and liabilities in business combinations) and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of net revenues and expenses during the reporting period. Actual results could differ from those estimates. Foreign Currency Translation Assets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where the local currency is the functional currency, are translated from foreign currencies into U.S. dollars at period-end exchange rates while income and expenses are translated at the weighted average spot rate for the periods presented. Translation gains or losses related to net assets located outside the U.S. are shown as a component of accumulated other comprehensive income in the Consolidated Statements of Shareholders’ Equity. Gains and losses resulting from foreign currency transactions, which are denominated in currencies other than the Company’s functional currency, are included in the Consolidated Statements of Operations and Comprehensive Loss. Concentration Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. Credit evaluations are performed on customers requiring credit over a certain amount. Credit risk is mitigated to a lesser extent through collateral such as letters of credit, bank guarantees or payment terms like cash in advance. For the three months ended March 31, 2018, one customer accounted for approximately 16% of the Company’s consolidated revenues. For the three months ended March 31, 2017, one customer accounted for approximately 11% of the Company’s consolidated revenues. At March 31, 2018, one customer exceeded 10% of consolidated gross accounts receivable at 23% of the Company’s gross accounts receivable. At December 31, 2017, two customers exceeded 10% of consolidated gross accounts receivable at 18% and 11%, respectively. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The carrying amounts of the Company’s financial instruments, including cash, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The Company’s term loan and revolving credit facility bear interest at a variable interest rate plus an applicable margin and, therefore, carrying amount approximates fair value. Contingent Consideration Under the terms of the CommAgility Share Purchase Agreement the Company may be required to pay additional purchase price if certain financial targets are achieved for the years ending December 31, 2017 and December 31, 2018 (“CommAgility Earn-Out”). The financial targets for 2017 were not achieved therefore there was no earn-out payment made in the three months ended March 31, 2018. As of December 31, 2017, the Company estimated the fair value of the contingent consideration remaining to be paid based on the 2018 financial results to be $630. The Company is required to reassess the fair value of the contingent consideration at each reporting period. The significant inputs used in this fair value estimate include gross revenues and Adjusted EBITDA, as defined, scenarios for the earn-out periods for which probabilities are assigned to each scenario to arrive at a single estimated outcome. The estimated outcome is then discounted based on individual risk analysis of the liability. Although the Company believes its estimates and assumptions are reasonable, different assumptions, including those regarding the operating results of CommAgility or changes in the future, may result in different estimated amounts. As of March 31, 2018, the Company’s contingent consideration liability has been estimated at $678 and is recorded in other current liabilities in the accompanying condensed consolidated balance sheet. The Company will satisfy this obligation with a cash payment to the sellers of CommAgility upon the achievement of the financial targets for 2018. The contingent consideration liability is considered a Level 3 fair value measurement. Subsequent Events Management has evaluated subsequent events and determined that there were no subsequent events or transactions requiring recognition or disclosure in the consolidated financial statements through the date the financial statements were issued.

Basis of Presentation Wireless Telecom Group, Inc., a New Jersey corporation, together with its subsidiaries (“we”, “us”, “our” or the “Company”), is a global designer and manufacturer of advanced radio frequency (“RF”) and microwave components, modules, systems and instruments and currently markets its products and services worldwide under the Boonton, Microlab, Noisecom and CommAgility brands. Serving the wireless, telecommunication, satellite, military, aerospace, and semiconductor industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, long term evolution (“LTE”) physical layer (“PHY”) and stack software, power splitters and combiners, global positioning system (“GPS”) repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe. The condensed consolidated balance sheet as of March 31, 2018, the condensed consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2018 and 2017, the condensed consolidated statements of cash flows for the three months ended March 31, 2018 and 2017 and the condensed consolidated statement of shareholders’ equity for the three months ended March 31, 2018 have been prepared by the Company without audit. The condensed consolidated financial statements include the accounts of Wireless Telecom Group, Inc., doing business as and operating under the trade name, Noisecom, and its wholly owned subsidiaries including Boonton Electronics Corporation (“Boonton”), Microlab/FXR (“Microlab”), Wireless Telecommunications Ltd. and CommAgility Limited (“CommAgility”). All intercompany transactions and balances have been eliminated in consolidation. It is suggested that these interim condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements, and the notes thereto, included in the Company’s latest shareholders’ annual report (Form 10-K).

Condensed Consolidated Financial Statements In the opinion of management, the accompanying condensed consolidated financial statements referred to above contain all necessary adjustments, consisting of normal accruals and recurring entries, which are necessary to fairly present the Company’s results for the interim periods being presented. The accounting policies followed by the Company are set forth in Note 1 to the Company’s financial statements included in its annual report on Form 10-K for the year ended December 31, 2017. Specific reference is made to that report since certain information and footnote disclosures normally included in financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP) have been reduced for interim periods in accordance with SEC rules. The results of operations for the three month period ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018.

Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (including inventory valuation, accounts receivable valuation, valuation of deferred tax assets, intangible assets, estimated fair values of stock options and estimated fair values of acquired assets and liabilities in business combinations) and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of net revenues and expenses during the reporting period. Actual results could differ from those estimates.

Foreign Currency Translation Assets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where the local currency is the functional currency, are translated from foreign currencies into U.S. dollars at period-end exchange rates while income and expenses are translated at the weighted average spot rate for the periods presented. Translation gains or losses related to net assets located outside the U.S. are shown as a component of accumulated other comprehensive income in the Consolidated Statements of Shareholders’ Equity. Gains and losses resulting from foreign currency transactions, which are denominated in currencies other than the Company’s functional currency, are included in the Consolidated Statements of Operations and Comprehensive Loss.

Concentration Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. Credit evaluations are performed on customers requiring credit over a certain amount. Credit risk is mitigated to a lesser extent through collateral such as letters of credit, bank guarantees or payment terms like cash in advance. For the three months ended March 31, 2018, one customer accounted for approximately 16% of the Company’s consolidated revenues. For the three months ended March 31, 2017, one customer accounted for approximately 11% of the Company’s consolidated revenues. At March 31, 2018, one customer exceeded 10% of consolidated gross accounts receivable at 23% of the Company’s gross accounts receivable. At December 31, 2017, two customers exceeded 10% of consolidated gross accounts receivable at 18% and 11%, respectively.

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Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The carrying amounts of the Company’s financial instruments, including cash, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The Company’s term loan and revolving credit facility bear interest at a variable interest rate plus an applicable margin and, therefore, carrying amount approximates fair value.

Contingent Consideration Under the terms of the CommAgility Share Purchase Agreement the Company may be required to pay additional purchase price if certain financial targets are achieved for the years ending December 31, 2017 and December 31, 2018 (“CommAgility Earn-Out”). The financial targets for 2017 were not achieved therefore there was no earn-out payment made in the three months ended March 31, 2018. As of December 31, 2017, the Company estimated the fair value of the contingent consideration remaining to be paid based on the 2018 financial results to be $630. The Company is required to reassess the fair value of the contingent consideration at each reporting period. The significant inputs used in this fair value estimate include gross revenues and Adjusted EBITDA, as defined, scenarios for the earn-out periods for which probabilities are assigned to each scenario to arrive at a single estimated outcome. The estimated outcome is then discounted based on individual risk analysis of the liability. Although the Company believes its estimates and assumptions are reasonable, different assumptions, including those regarding the operating results of CommAgility or changes in the future, may result in different estimated amounts. As of March 31, 2018, the Company’s contingent consideration liability has been estimated at $678 and is recorded in other current liabilities in the accompanying condensed consolidated balance sheet. The Company will satisfy this obligation with a cash payment to the sellers of CommAgility upon the achievement of the financial targets for 2018. The contingent consideration liability is considered a Level 3 fair value measurement.

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Subsequent Events Management has evaluated subsequent events and determined that there were no subsequent events or transactions requiring recognition or disclosure in the consolidated financial statements through the date the financial statements were issued.

NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS Adopted During The Three Months Ended March 31, 2018 On January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“Topic 606”) using the “modified retrospective” method, meaning the standard is applied only to the most current period presented in the financial statements.  Furthermore, we elected to apply the standard only to those contracts which were not completed as of the date of the adoption. Results for reporting periods beginning on the date of adoption are presented under Topic 606, while prior period amounts have not been adjusted and continue to be reported in accordance with accounting standards in effect for those periods (see Note 3). Upon adoption, a cumulative effect adjustment of $421 was made and the impact resulted in an increase to retained earnings on the Condensed Consolidated Balance Sheet as of January 1, 2018. The adjustment was based on customer-specific contracts in effect at December 31, 2017 and reflects revenue that would have been recognized in 2018 in accordance with Accounting Standard Codification (“ASC”) 605 “Revenue Recognition” and Subtopic 985 “Software” collectively referred to as “Topic 605”. The beginning balance of deferred revenue decreased by $258 representing amounts that were invoiced to customers and not recognized and prepaid and other current assets increased by $163 representing unbilled receivables recognized under Topic 606. Further, accounts receivable increased $199 as the contra accounts receivable balance representing estimated product returns was reclassified to other current liabilities. The most significant impact of Topic 606 relates to the Company’s accounting for software license agreements which have multiple deliverables. Under Topic 605 the Company could not establish vendor specific objective evidence of fair value (“VSOE”) for its undelivered elements and therefore was not able to separate its delivered software licenses from its future undelivered software license releases. Topic 606 no longer requires separability of promised goods, such as software licenses, on the basis of VSOE. Rather, Topic 606 requires the Company to identify the performance obligations in the contract — that is, those promised goods and services (or bundles of promised goods or services) that are distinct — and allocate the transaction price of the contract to those performance obligations on the basis of estimated standalone selling prices (“SSPs”). For these arrangements, the Company will recognize revenue for each deliverable at a point in time when control is transferred to the customer since each deliverable has standalone value. The primary impact of adopting the new standard results in an acceleration of revenues recognized for the aforementioned multiple deliverable software license arrangements, which are primarily in the Embedded Solutions segment. These multiple deliverable arrangements represented less than 2% of total consolidated revenues for the year ended December 31, 2017. The timing of revenue recognition for digital signal processing hardware in the Embedded Solutions segment, radio frequency solutions in the Network Solutions segment and noise generators and components and power meters and analyzers and related services in the Test and Measurement segment remains substantially unchanged. The following line items in our Condensed Consolidated Statement of Operations and Comprehensive Income for the current reporting period and Condensed Consolidated Balance Sheet as of March 31, 2018 have been provided to reflect both the adoption of Topic 606 as well as a comparative presentation in accordance with Topic 605 previously in effect: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="11" style="text-align: center; border-bottom: Black 1px solid">Three Months Ended March 31, 2018</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; border-bottom: Black 1px solid">CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME </td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">As Reported (in Accordance with ASC Topic 606)</td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Balances Without Adoption of ASC Topic 606</td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Impact of Adoption Higher/(Lower)</td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 45%; color: black; text-align: left">Net sales</td><td style="width: 1%; color: black"> </td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 14%; color: black; text-align: right">13,264</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 14%; color: black; text-align: right">12,958</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 14%; color: black; text-align: right">306</td><td style="width: 1%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Operating income</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">430</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">124</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">306</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Net income</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">374</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">68</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">306</td><td style="color: black; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td colspan="11" style="text-align: center; border-bottom: Black 1px solid">As of March 31, 2018</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; border-bottom: Black 1px solid">CONDENSED CONSOLIDATED BALANCE SHEET</td><td style="color: black; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">As Reported (in Accordance with ASC Topic 606)</td><td style="color: black; text-align: left; border-bottom: Black 1px solid"> </td><td style="color: black; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Balances Without Adoption of ASC Topic 606</td><td style="color: black; text-align: left; border-bottom: Black 1px solid"> </td><td style="color: black; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Impact of Adoption Higher/(Lower)</td><td style="color: black; text-align: left; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; width: 45%">CURRENT ASSETS</td><td style="width: 1%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; text-indent: 10pt">Prepaid expenses and other current assets</td><td style="color: black"> </td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,725</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,241</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">484</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">CURRENT LIABILITIES</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; text-indent: 10pt">Deferred revenue</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">808</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">1,068</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">(260</td><td style="color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">SHAREHOLDERS’ EQUITY</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; text-indent: 10pt">Retained earnings</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">7,971</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">7,665</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">306</td><td style="color: black; text-align: left"> </td></tr> </table> In January 2017, the FASB issued ASU No. 2017-01, Business Combinations: Clarifying the Definition of a Business Topic 805 (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017, and early adoption is permitted. The Company adopted this standard on January 1, 2018 and will apply the standard to any future business combinations. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230); Classification of Certain Cash Receipts and Cash Payments, to address some questions about the presentation and classification of certain cash receipts and payments in the statement of cash flows. The update addresses eight specific issues, including contingent consideration payments made after a business combination, distribution received from equity method investees and the classification of cash receipts and payments that have aspects of more than one class of cash flows. This standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted this standard on January 1, 2018, and it had no material impact on our financial statements. Except for the change in accounting policies for revenue recognition as a result of adopting Topic 606, there have been no other changes to our significant accounting policies as described in the 2017 Form 10-K that had a material impact on our condensed consolidated financial statements and related notes. Recent Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted. The Company is currently evaluating its population of leases and is continuing to assess all potential impacts of ASU 2016-02. The Company does anticipate recognition of additional assets and corresponding liabilities related to leases upon adoption, but has not yet quantified these at this time. The Company plans to adopt the standard effective January 1, 2019, but has not yet selected a transition method.

-258000

163000

199000

0.02

The following line items in our Condensed Consolidated Statement of Operations and Comprehensive Income for the current reporting period and Condensed Consolidated Balance Sheet as of March 31, 2018 have been provided to reflect both the adoption of Topic 606 as well as a comparative presentation in accordance with Topic 605 previously in effect: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="11" style="text-align: center; border-bottom: Black 1px solid">Three Months Ended March 31, 2018</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; border-bottom: Black 1px solid">CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME </td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">As Reported (in Accordance with ASC Topic 606)</td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Balances Without Adoption of ASC Topic 606</td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Impact of Adoption Higher/(Lower)</td><td style="color: black; text-align: center; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 45%; color: black; text-align: left">Net sales</td><td style="width: 1%; color: black"> </td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 14%; color: black; text-align: right">13,264</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 14%; color: black; text-align: right">12,958</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 14%; color: black; text-align: right">306</td><td style="width: 1%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Operating income</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">430</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">124</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">306</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Net income</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">374</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">68</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">306</td><td style="color: black; text-align: left"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td colspan="11" style="text-align: center; border-bottom: Black 1px solid">As of March 31, 2018</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; border-bottom: Black 1px solid">CONDENSED CONSOLIDATED BALANCE SHEET</td><td style="color: black; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">As Reported (in Accordance with ASC Topic 606)</td><td style="color: black; text-align: left; border-bottom: Black 1px solid"> </td><td style="color: black; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Balances Without Adoption of ASC Topic 606</td><td style="color: black; text-align: left; border-bottom: Black 1px solid"> </td><td style="color: black; border-bottom: Black 1px solid"> </td> <td colspan="2" style="color: black; text-align: center; border-bottom: Black 1px solid">Impact of Adoption Higher/(Lower)</td><td style="color: black; text-align: left; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; width: 45%">CURRENT ASSETS</td><td style="width: 1%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; text-indent: 10pt">Prepaid expenses and other current assets</td><td style="color: black"> </td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,725</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,241</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">484</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">CURRENT LIABILITIES</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; text-indent: 10pt">Deferred revenue</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">808</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">1,068</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">(260</td><td style="color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">SHAREHOLDERS’ EQUITY</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; text-indent: 10pt">Retained earnings</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">7,971</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">7,665</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">306</td><td style="color: black; text-align: left"> </td></tr> </table>

12958000

306000

124000

306000

68000

306000

1725000

1241000

484000

1068000

-260000

7665000

306000

NOTE 3 – REVENUE Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for promised goods or services. The Company’s performance obligations are satisfied either over time or at a point in time. Revenue from performance obligations that transferred at a point in time accounted for approximately 94% of the Company’s total revenue for the three months ended March 31, 2018. Nature of Products and Services Hardware The Company generally has one performance obligation in its arrangements involving the sales of radio frequency solutions in the Network Solutions segment, digital signal processing hardware in the Embedded Solutions segment and noise generators and components and power meter and analyzers in the Test and Measurement segment. When the terms of a contract include the transfer of multiple products, each distinct product is identified as a separate performance obligation. Generally, satisfaction occurs when control of the promised goods is transferred to the customer in exchange for consideration in an amount for which we expect to be entitled.  Generally, control is transferred when legal title of the asset moves from the Company to the customer. We sell our products to a customer based on a purchase order, and the shipping terms per each individual order are primarily used to satisfy the single performance obligation. However, in order to determine control has transferred to the customer, the Company also considers: <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 54pt"> </td> <td style="width: 18pt; font: 10pt Arial, Helvetica, Sans-Serif">·</td> <td style="font: 10pt Arial, Helvetica, Sans-Serif">when the Company has a present right to payment for the asset</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif">·</td> <td style="font: 10pt Arial, Helvetica, Sans-Serif">when the Company has transferred physical possession of the asset to the customer </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif">·</td> <td style="font: 10pt Arial, Helvetica, Sans-Serif">when the customer has the significant risks and rewards of ownership of the asset </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif">·</td> <td style="font: 10pt Arial, Helvetica, Sans-Serif">when the customer has accepted the asset </td></tr> </table> Software Arrangements involving licenses of software in the Embedded Solutions segment may involve multiple performance obligations, most notably subsequent releases of the software. The Company has concluded that each software release in a multiple deliverable arrangement in the Embedded Solutions segment is a distinct performance obligation and, accordingly, transaction price is allocated to each release when the customer obtains control of the software. Performance obligations that are not distinct at contract inception are combined. Specifically, with the Company’s sales of software, contracts that include customization may result in the combination of the customization services with the license as one distinct performance obligation and recognized over time. The duration of these performance obligations are typically one year or less. Services Arrangements involving calibration and repair services in the Company’s Test and Measurement segment are generally considered a single performance obligation and are recognized as the services are rendered. Shipping and Handling Shipping and handling activities performed after the customer obtains control are accounted for as fulfillment activities and recognized as cost of revenues. Significant Judgments For the Company’s more complex software and services arrangements significant judgment is required in determining whether licenses and services are distinct performance obligations that should be accounted for separately, or, are not distinct, and thus accounted for together. Further, in cases where we determine that performance obligations should be accounted for separately, judgement is required to determine the standalone selling price for each distinct performance obligation. Certain of the Company shipments include a limited return right. In accordance with Topic 606 the Company recognizes revenue net of expected returns. Contract Balances The timing of revenue recognition may differ from the timing of invoicing to customers and these timing differences result in contract assets or contract liabilities (deferred revenue) on the Company’s condensed consolidated balance sheet. The Company records a contract asset when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing. Contract assets are recorded in prepaid expenses and other current assets and are $484 and $162 as of March 31, 2018 and December 31, 2017 (as adjusted), respectively. The increase in contract assets from December 31, 2017 is due to contract assets recognized in the current period. Deferred revenue is $808 and $371 as of March 31, 2018 and December 31, 2017 (as adjusted), respectively. Revenue recognized in the current period that was included in the opening deferred revenue balance was $163. Disaggregated Revenue We disaggregate our revenue from contracts with customers by product family and geographic location for each of our segments as we believe it best depicts how the nature, timing and uncertainty of our revenue and cash flows are affected by economic factors. See details in the tables below. <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td colspan="14" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: center">Three Months Ended March 31, 2018</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px">Total Net Revenues by Revenue Type</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Total</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 50%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">RF Solutions</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">5,511</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">5,511</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Noise Generators and Components</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,499</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,499</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Power Meters and Analyzers</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,980</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,980</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Signal Processing Hardware</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">2,906</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">2,906</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Software Licenses</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">483</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">483</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black">Services</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">284</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">601</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">885</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Total Net Revenue</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">5,511</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">3,763</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">3,990</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">13,264</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Total Net Revenues By Geographic Areas</td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Total</td><td style="padding-bottom: 1px; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 40%">Americas</td><td style="width: 3%"> </td> <td style="width: 3%; text-align: right">$</td><td style="width: 8%; text-align: right">4,159</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 7%; text-align: right">2,515</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 7%; text-align: right">1,423</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 7%; text-align: right">8,097</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>EMEA</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">941</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">449</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">2,370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">3,760</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px">APAC</td><td style="padding-bottom: 1px"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">411</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">799</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">197</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">1,407</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="font-weight: bold; padding-bottom: 3px"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">5,511</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,763</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,990</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">13,264</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; "> <td> </td><td colspan="16" style="font-weight: bold; text-align: center">Three Months Ended March 31, 2017</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1px">Total Net Revenues By Revenue Type</td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; width: 40%">RF Solutions</td><td style="width: 3%"> </td> <td style="text-align: right; width: 3%">$</td><td style="text-align: right; width: 8%">5,515</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%">$</td><td style="text-align: right; width: 7%">-</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%">$</td><td style="text-align: right; width: 7%">-</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%">$</td><td style="text-align: right; width: 7%">5,515</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Noise Generators and Components</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,217</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Power Meters and Analyzers</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,536</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Signal Processing Hardware</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">382</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">382</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Software Licenses</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">85</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">85</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1px">Services</td><td style="padding-bottom: 1px"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">-</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">284</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">530</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">814</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="font-weight: bold; padding-bottom: 3px"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">5,515</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,037</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">997</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">9,549</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1px">Total Net Revenues by Geographic Areas</td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 40%">Americas</td><td style="width: 3%"> </td> <td style="text-align: right; width: 3%"> </td><td style="text-align: right; width: 8%">4,710</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%"> </td><td style="text-align: right; width: 7%">1,690</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%"> </td><td style="text-align: right; width: 7%">565</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%"> </td><td style="text-align: right; width: 7%">6,965</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td>EMEA</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,523</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px">APAC</td><td style="padding-bottom: 1px"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">233</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">793</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">35</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">1,061</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="font-weight: bold; padding-bottom: 3px"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">5,515</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,037</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">997</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">9,549</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td></tr> </table>

0.94

484000

162000

808000

371000

163000

We disaggregate our revenue from contracts with customers by product family and geographic location for each of our segments as we believe it best depicts how the nature, timing and uncertainty of our revenue and cash flows are affected by economic factors. See details in the tables below. <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td colspan="14" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: center">Three Months Ended March 31, 2018</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px">Total Net Revenues by Revenue Type</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px"> </td> <td colspan="2" style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; padding-bottom: 1px; text-align: center">Total</td><td style="padding-bottom: 1px; font: bold 10pt Arial, Helvetica, Sans-Serif; color: black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 50%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">RF Solutions</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">5,511</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">$</td><td style="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">5,511</td><td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Noise Generators and Components</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,499</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,499</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Power Meters and Analyzers</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,980</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">1,980</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Signal Processing Hardware</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">2,906</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">2,906</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Software Licenses</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">483</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">483</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black">Services</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">-</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">284</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">601</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black"> </td> <td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right"> </td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right">885</td><td style="font: 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left">Total Net Revenue</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">5,511</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">3,763</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">3,990</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; border-top: Black 1px solid; border-bottom: Black 3px double"> </td> <td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">$</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: right; border-top: Black 1px solid; border-bottom: Black 3px double">13,264</td><td style="font: bold 10pt Arial, Helvetica, Sans-Serif; color: black; text-align: left; border-top: Black 1px solid; border-bottom: Black 3px double"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Total Net Revenues By Geographic Areas</td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; padding-bottom: 1px; text-align: center">Total</td><td style="padding-bottom: 1px; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 40%">Americas</td><td style="width: 3%"> </td> <td style="width: 3%; text-align: right">$</td><td style="width: 8%; text-align: right">4,159</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 7%; text-align: right">2,515</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 7%; text-align: right">1,423</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 7%; text-align: right">8,097</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>EMEA</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">941</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">449</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">2,370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">3,760</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px">APAC</td><td style="padding-bottom: 1px"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">411</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">799</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">197</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">1,407</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="font-weight: bold; padding-bottom: 3px"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">5,511</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,763</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,990</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">13,264</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; "> <td> </td><td colspan="16" style="font-weight: bold; text-align: center">Three Months Ended March 31, 2017</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1px">Total Net Revenues By Revenue Type</td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; width: 40%">RF Solutions</td><td style="width: 3%"> </td> <td style="text-align: right; width: 3%">$</td><td style="text-align: right; width: 8%">5,515</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%">$</td><td style="text-align: right; width: 7%">-</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%">$</td><td style="text-align: right; width: 7%">-</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%">$</td><td style="text-align: right; width: 7%">5,515</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Noise Generators and Components</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,217</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Power Meters and Analyzers</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,536</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Signal Processing Hardware</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">382</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">382</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Software Licenses</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">85</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">85</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1px">Services</td><td style="padding-bottom: 1px"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">-</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">284</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">530</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">814</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="font-weight: bold; padding-bottom: 3px"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">5,515</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,037</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">997</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">9,549</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1px">Total Net Revenues by Geographic Areas</td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Network Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Test and Measurement</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Embedded Solutions</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="padding-bottom: 1px; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1px; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 40%">Americas</td><td style="width: 3%"> </td> <td style="text-align: right; width: 3%"> </td><td style="text-align: right; width: 8%">4,710</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%"> </td><td style="text-align: right; width: 7%">1,690</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%"> </td><td style="text-align: right; width: 7%">565</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: right; width: 4%"> </td><td style="text-align: right; width: 7%">6,965</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td>EMEA</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,523</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px">APAC</td><td style="padding-bottom: 1px"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">233</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">793</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">35</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="text-align: right; border-bottom: Black 1px solid"> </td><td style="text-align: right; border-bottom: Black 1px solid">1,061</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="font-weight: bold; padding-bottom: 3px"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">5,515</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">3,037</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">997</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; border-bottom: Black 3px double"> </td> <td style="font-weight: bold; text-align: right; border-bottom: Black 3px double"> </td><td style="font-weight: bold; text-align: right; border-bottom: Black 3px double">9,549</td><td style="border-bottom: Black 3px double; font-weight: bold; text-align: left"> </td></tr> </table>

5511000

1499000

1980000

2906000

483000

284000

601000

885000

5511000

3763000

3990000

4159000

2515000

1423000

8097000

941000

449000

2370000

3760000

411000

799000

197000

1407000

5515000

1217000

1536000

382000

85000

284000

530000

814000

5515000

3037000

997000

4710000

1690000

565000

6965000

572000

554000

397000

1523000

233000

793000

35000

1061000

NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets generally consist of income tax receivables, prepaid insurance, prepaid maintenance agreements and the short term portion of debt issuance costs. As of December 31, 2017, prepaid and other current assets included a $3,599 contingent asset representing the fair value of consideration shares issued in connection with the CommAgility acquisition. Under the claw back provision of the Share Purchase Agreement (see Note 5) the consideration shares were forfeited in March 2018 and are no longer outstanding. Accordingly, prepaid expenses and other current assets decreased by $3,599 from December 31, 2017. The forfeited shares are recorded as treasury stock in the condensed consolidated statement of shareholders’ equity as of March 31, 2018.

3599000

-3599000

NOTE 5 – ACQUISITION OF COMMAGILITY On February 17, 2017, Wireless Telecommunications, Ltd. (the “Acquisition Subsidiary”), a company incorporated in England and Wales which is a wholly owned subsidiary of Wireless Telecom Group, Inc., completed the acquisition of all the issued shares in CommAgility Limited, (“CommAgility”) a company incorporated in England and Wales (the “Acquisition”) from CommAgility’s founders. The Acquisition was completed pursuant to the terms of a Share Purchase Agreement, dated February 17, 2017, and entered into by and among the Company, the Acquisition Subsidiary and the founders. The Company paid $11,318 in cash on acquisition date and issued 3,488 shares of newly issued Company common stock (“Consideration Shares”) with an acquisition date fair value of $6,000. In addition to the acquisition date cash purchase price the sellers were paid an additional $2,500 in the form of deferred purchase price payable in installments beginning in March 2017 through January 2019 and were paid an additional purchase price adjustment based on working capital and cash levels of $1,400. Lastly, the sellers could have earned an additional £10,000 in purchase price if certain financial targets were met for the years ending December 31, 2017 and December 31, 2018. (See Note 1). Pursuant to the Share Purchase Agreement, 2,093 of the Consideration Shares were subject to forfeiture and return to the Company if (a) 2017 Adjusted EBITDA, as defined, generated by CommAgility is less than £2,400; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility is less than £2,400 (in each case as determined by an audit of CommAgility conducted by the accountants of the Acquisition Subsidiary in accordance with the terms of the Share Purchase Agreement). During the three months ended March 31, 2018 all consideration shares were forfeited as the 2017 EBITDA threshold was not achieved. The fair value of these shares of $3,599 is recorded in treasury stock as of March 31, 2018. The following table summarizes the activity related to contingent consideration and deferred purchase price for the three months ended March 31, 2018: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contingent Consideration</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Deferred Purchase Price</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 65%">Balance at December 31, 2017</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: right">$</td><td style="width: 10%; text-align: right">630</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 12%; text-align: right">1,230</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Accretion of Interest</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">24</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt">Payment</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(811</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 10pt; padding-bottom: 1px">Foreign Currency Translation</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">24</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">48</td><td style="text-align: left; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px">Balance as of March 31, 2018</td><td> </td> <td style="border-bottom: Black 2px solid; text-align: right">$</td><td style="border-bottom: Black 2px solid; text-align: right">678</td><td style="text-align: left; border-bottom: Black 2px solid"> </td><td style="border-bottom: Black 2px solid"> </td> <td style="border-bottom: Black 2px solid; text-align: right">$</td><td style="border-bottom: Black 2px solid; text-align: right">467</td><td style="text-align: left; border-bottom: Black 2px solid"> </td></tr> </table> As of March 31, 2018, contingent consideration liability and deferred purchase price are included in accrued expenses and other current liabilities on the condensed consolidated balance sheet.

2017-02-17

11318000

3488000

6000000

2500000 1400000 10000000 2093000 (a) 2017 Adjusted EBITDA,as defined, generated by CommAgility is less than £2,400; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgilityis less than £2,400 (in each case as determined by an audit of CommAgility conducted by the accountants of the AcquisitionSubsidiary in accordance with the terms of the Share Purchase Agreement).

2400000

3599000

The following table summarizes the activity related to contingent consideration and deferred purchase price for the three months ended March 31, 2018: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contingent Consideration</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Deferred Purchase Price</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 65%">Balance at December 31, 2017</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: right">$</td><td style="width: 10%; text-align: right">630</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 12%; text-align: right">1,230</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Accretion of Interest</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">24</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt">Payment</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(811</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 10pt; padding-bottom: 1px">Foreign Currency Translation</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">24</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">48</td><td style="text-align: left; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px">Balance as of March 31, 2018</td><td> </td> <td style="border-bottom: Black 2px solid; text-align: right">$</td><td style="border-bottom: Black 2px solid; text-align: right">678</td><td style="text-align: left; border-bottom: Black 2px solid"> </td><td style="border-bottom: Black 2px solid"> </td> <td style="border-bottom: Black 2px solid; text-align: right">$</td><td style="border-bottom: Black 2px solid; text-align: right">467</td><td style="text-align: left; border-bottom: Black 2px solid"> </td></tr> </table> 630000 1230000 24000 -811000 24000 48000 678000 467000

NOTE 6 – INCOME TAXES The Company records deferred taxes in accordance with Accounting Standards Codification (“ASC”) 740, “Accounting for Income Taxes.” ASC 740 requires recognition of deferred tax assets and liabilities for temporary differences between tax basis of assets and liabilities and the amounts at which they are carried in the financial statements, based upon the enacted rates in effect for the year in which the differences are expected to reverse. The Company establishes a valuation allowance when necessary to reduce deferred tax assets to the amount expected to be realized. The Company periodically assesses the value of its deferred tax assets and determines the necessity for a valuation allowance. Realization of the Company’s deferred tax assets is dependent upon the Company generating sufficient taxable income in the appropriate tax jurisdictions in future years to obtain benefit from the reversal of net deductible temporary differences and from utilization of net operating losses. The amount of deferred tax assets considered realizable is subject to adjustment in future periods if estimates of future taxable income are changed. The effective rate of income tax provision of 13% for the three months ended March 31, 2018 was lower than the statutory rates in the United States and United Kingdom primarily due to research and development deductions in the United Kingdom and non-qualified stock option deductions offset by nondeductible expenses and U.S. state income taxes.

0.13

NOTE 7 - INCOME (LOSS) PER COMMON SHARE Basic income (loss) per share is calculated by dividing income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share is calculated by dividing income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options using the treasury stock method and unvested restricted shares. In periods with a net loss, the basic loss per share equals the diluted loss per share as all common stock equivalents are excluded from the per share calculation because they are anti-dilutive. In accordance with ASC 260, “Earnings Per Share”, the following table reconciles basic shares outstanding to fully diluted shares outstanding. <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1px solid">For the Three Months Ended March 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td colspan="2" style="text-align: center; padding-bottom: 1px">2018</td><td> </td><td> </td> <td colspan="2" style="text-align: center; padding-bottom: 1px">2017</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt; text-indent: -10pt">Weighted average common shares outstanding</td><td style="width: 7%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right; padding-right: 15pt">20,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right; padding-right: 15pt">20,386</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Potentially dilutive stock options</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 15pt">989</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 15pt">780</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right; padding-right: 15pt"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right; padding-right: 15pt"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt; text-indent: -10pt">Weighted average common shares outstanding, assuming dilution</td><td> </td> <td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 15pt">21,633</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 15pt">21,166</td><td style="text-align: left"> </td></tr> </table> Common stock equivalents are included in the diluted income (loss) per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented. The weighted average number of options to purchase common stock not included in diluted loss per share, because the effects are anti-dilutive, was 0 and 1,413 for the three months ended March 31, 2018 and 2017, respectively.

1413000

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1px solid">For the Three Months Ended March 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td colspan="2" style="text-align: center; padding-bottom: 1px">2018</td><td> </td><td> </td> <td colspan="2" style="text-align: center; padding-bottom: 1px">2017</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt; text-indent: -10pt">Weighted average common shares outstanding</td><td style="width: 7%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right; padding-right: 15pt">20,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right; padding-right: 15pt">20,386</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Potentially dilutive stock options</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 15pt">989</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 15pt">780</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right; padding-right: 15pt"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right; padding-right: 15pt"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt; text-indent: -10pt">Weighted average common shares outstanding, assuming dilution</td><td> </td> <td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 15pt">21,633</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 15pt">21,166</td><td style="text-align: left"> </td></tr> </table>

20644000

20386000

989000

780000

21633000

21166000

NOTE 8 – INVENTORIES Inventory carrying value is net of inventory reserves of $1,732 and $1,856 at March 31, 2018 and December 31, 2017, respectively. Inventories consist of: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">March 31, 2018</td><td> </td><td> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">December 31, 2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Raw materials</td><td style="width: 3%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 11%; text-align: right; padding-right: 5pt">3,678</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 11%; text-align: right; padding-right: 5pt">3,231</td></tr> <tr style="vertical-align: bottom; "> <td>Work-in-process</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right; padding-right: 5pt">592</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right; padding-right: 5pt">631</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">2,783</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">2,664</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 5pt">7,053</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 5pt">6,526</td></tr> </table>

Inventories consist of: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">March 31, 2018</td><td> </td><td> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">December 31, 2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Raw materials</td><td style="width: 3%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 11%; text-align: right; padding-right: 5pt">3,678</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 11%; text-align: right; padding-right: 5pt">3,231</td></tr> <tr style="vertical-align: bottom; "> <td>Work-in-process</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right; padding-right: 5pt">592</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right; padding-right: 5pt">631</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">2,783</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">2,664</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 5pt">7,053</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 5pt">6,526</td></tr> </table>

3678000

3231000

592000

631000

2783000

2664000

NOTE 9 – GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill balance of $10,598 at March 31, 2018 relates to two of the Company’s reporting units, Microlab ($1,351) and Embedded Solutions ($9,247). Management’s qualitative assessment performed in the fourth quarter of 2017 did not indicate any impairment of Microlab’s goodwill as its fair value was estimated to be in excess of its carrying value. Furthermore, no events have occurred since then that would change this assessment. Goodwill consists of the following: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">March 31, 2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Beginning Balance</td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 10%; text-align: right; padding-right: 15pt">10,260</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Foreign Currency Translation</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 15pt">338</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Ending Balance</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 2px solid; text-align: right">$</td><td style="border-bottom: Black 2px solid; text-align: right; padding-right: 15pt">10,598</td></tr> </table> Intangible assets consist of the following: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">March 31, 2018</td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Gross Carrying Amount</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated Amortization</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Foreign Exchange Translation</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Carrying Amount</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Customer Relationships</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 10%; text-align: right">2,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">(646</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 13%; text-align: right">268</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">2,388</td><td style="width: 2%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Patents</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">615</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(143</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">531</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Non Compete Agreements</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(436</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">771</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1px">Tradename</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">629</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">72</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">701</td><td style="text-align: left; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt; padding-bottom: 3px">Total</td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">5,117</td><td style="text-align: left; border-bottom: Black 3px double"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">(1,225</td><td style="text-align: left; border-bottom: Black 3px double">)</td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">499</td><td style="text-align: left; border-bottom: Black 3px double"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">4,391</td><td style="text-align: left; border-bottom: Black 3px double"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">December 31, 2017</td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Gross Carrying Amount</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated Amortization</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Foreign Exchange Translation</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Carrying Amount</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Customer Relationships</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 10%; text-align: right">2,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">(494</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 13%; text-align: right">178</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">2,450</td><td style="width: 2%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Patents</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">615</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(109</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">39</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">545</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Non Compete Agreements</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(334</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">69</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">842</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Tradename</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">629</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">45</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">674</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">5,117</td><td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">(937</td><td style="border-bottom: Black 3px double; text-align: left">)</td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">331</td><td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">4,511</td><td style="border-bottom: Black 3px double; text-align: left"> </td></tr> </table> Amortization of acquired intangible assets was $287 and $200 for the three months ended March 31, 2018 and 2017, respectively. Amortization of acquired intangible assets is included as part of general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income/(loss). The estimated future amortization expense related to intangible assets is as follows as of March 31, 2018: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Remainder 2018</td><td style="width: 3%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 10%; text-align: right; padding-right: 5pt">873</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">2019</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">1,165</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">2020</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">805</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">2021</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">754</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">2022</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">94</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 3px; text-indent: -10pt; padding-left: 10pt; text-align: left">Total</td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: center">$</td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 5pt">3,691</td></tr> </table>

1351000

9247000

287000

200000

Goodwill consists of the following: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">March 31, 2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Beginning Balance</td><td style="width: 3%"> </td> <td style="width: 4%; text-align: right">$</td><td style="width: 10%; text-align: right; padding-right: 15pt">10,260</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Foreign Currency Translation</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 15pt">338</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Ending Balance</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 2px solid; text-align: right">$</td><td style="border-bottom: Black 2px solid; text-align: right; padding-right: 15pt">10,598</td></tr> </table>

338000

Intangible assets consist of the following: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">March 31, 2018</td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Gross Carrying Amount</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated Amortization</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Foreign Exchange Translation</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Carrying Amount</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Customer Relationships</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 10%; text-align: right">2,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">(646</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 13%; text-align: right">268</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">2,388</td><td style="width: 2%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Patents</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">615</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(143</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">531</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Non Compete Agreements</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(436</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">771</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1px">Tradename</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">629</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">72</td><td style="text-align: left; border-bottom: Black 1px solid"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">701</td><td style="text-align: left; border-bottom: Black 1px solid"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt; padding-bottom: 3px">Total</td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">5,117</td><td style="text-align: left; border-bottom: Black 3px double"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">(1,225</td><td style="text-align: left; border-bottom: Black 3px double">)</td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">499</td><td style="text-align: left; border-bottom: Black 3px double"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">4,391</td><td style="text-align: left; border-bottom: Black 3px double"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">December 31, 2017</td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Gross Carrying Amount</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Accumulated Amortization</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Foreign Exchange Translation</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Net Carrying Amount</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Customer Relationships</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 10%; text-align: right">2,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">(494</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 13%; text-align: right">178</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 2%; text-align: right">$</td><td style="width: 9%; text-align: right">2,450</td><td style="width: 2%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Patents</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">615</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(109</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">39</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">545</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Non Compete Agreements</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">1,107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">(334</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">69</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right">842</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Tradename</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">629</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">45</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: right"> </td><td style="border-bottom: Black 1px solid; text-align: right">674</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">5,117</td><td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">(937</td><td style="border-bottom: Black 3px double; text-align: left">)</td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">331</td><td style="border-bottom: Black 3px double; text-align: left"> </td><td style="border-bottom: Black 3px double"> </td> <td style="border-bottom: Black 3px double; text-align: right">$</td><td style="border-bottom: Black 3px double; text-align: right">4,511</td><td style="border-bottom: Black 3px double; text-align: left"> </td></tr> </table>

2766000

-646000

268000

2388000

2766000

-494000

178000

2450000

615000

-143000

59000

531000

615000

-109000

39000

545000

1107000

-436000

100000

771000

1107000

-334000

69000

842000

629000 72000

701000

629000 45000

674000

5117000

-1225000

499000 5117000

-937000

331000

The estimated future amortization expense related to intangible assets is as follows as of March 31, 2018: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Remainder 2018</td><td style="width: 3%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 10%; text-align: right; padding-right: 5pt">873</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">2019</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">1,165</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">2020</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">805</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">2021</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">754</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">2022</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">94</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 3px; text-indent: -10pt; padding-left: 10pt; text-align: left">Total</td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: center">$</td><td style="border-bottom: Black 3px double; text-align: right; padding-right: 5pt">3,691</td></tr> </table>

873000

1165000

805000

754000

94000

3691000

NOTE 10 – DEBT Debt consists of the following: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right; padding-right: 5pt; white-space: nowrap;">March 31, 2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Revolver at LIBOR Plus Margin</td><td style="width: 3%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 10%; text-align: right; padding-right: 5pt">2,595</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Term Loan at LIBOR Plus Margin</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">608</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Total Debt</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">3,203</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Debt Maturing within one year</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 2pt">(2,747)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Non-current portion of long term debt</td><td> </td> <td style="border-bottom: Black 2px solid; text-align: center">$</td><td style="border-bottom: Black 2px solid; text-align: right; padding-right: 5pt">456</td></tr> </table> In connection with the acquisition of CommAgility, the Company entered into a Credit Agreement with Bank of America, N.A. (the “Lender”) on February 16, 2017 (the “New Credit Facility”), which provided for a term loan in the aggregate principal amount of $760 (the “Term Loan”) and an asset based revolving loan (the “Revolver”), which is subject to a Borrowing Base Calculation (as defined in the New Credit Facility) of up to a maximum availability of $9,000 (“Revolver Commitment Amount”). The borrowing base is calculated as 85% of Eligible accounts receivable and inventory, as defined, subject to certain caps and limits. The borrowing base is calculated on a monthly basis. The proceeds of the term loan and revolver were used to finance the acquisition of CommAgility. In connection with the issuance of the New Credit Facility, the Company paid lender and legal fees of $215 which were primarily related to the Revolver and are capitalized and presented as other current and non-current assets in the Consolidated Balance Sheets. These costs are recognized as additional interest expense over the term of the related debt instrument using the straight line method. The Company must repay the Term Loan in installments of $38 per quarter due on the first day of each fiscal quarter beginning April 1, 2017 and continuing until the term loan maturity date, on which the remaining balance is due in a final installment. The future principal payments under the term loan are $114 in 2018 and $494 in 2019. The Term Loan and Revolver are both scheduled to mature on November 16, 2019. The Term and Revolver Loans bear interest at the LIBOR rate plus a margin. The margin on the outstanding balance of the Company’s Term Loans and Revolver Loans were fixed at 3.50% and 3.00% per annum, respectively, through September 30, 2017. Thereafter, the margins were subject to increase or decrease by Lender on the first day of each of the Borrowers’ fiscal quarters based upon the Fixed Charge Coverage Ratio (as defined in the New Credit Facility) as of the most recently ended fiscal quarter falling into three levels. If the Company’s Fixed Charge Coverage Ratio is greater than or equal to 1.25 to 1.00, a margin of 3.25% and 2.75%, respectively, is added to LIBOR rate with a step up to 3.50% and 3.00%, respectively, if the ratio is greater than or equal to 1.00 to 1.00 but less than 1.25 to 1.00 and another step up to 3.75% and 3.25%, respectively, if the ratio is less than 1.00 to 1.00. The Company is also required to pay a commitment fee on the unused commitments under the Revolver at a rate equal to 0.50% per annum and early termination fee of (a) 2% of the Revolver Commitment Amount and Term Loan if termination occurs before the first anniversary of the New Credit Facility or (b) 1% of the Revolver Commitment Amount and Term Loan if termination occurs after the first anniversary of the New Credit Facility but before the second anniversary of the New Credit Facility. The Company’s interest rate plus margin as of March 31, 2018 on the New Credit Facility was 4.75% and 5.25% for the Revolver and Term Loan, respectively. The Company’s interest rate plus margin as of December 31, 2017 on the New Credit Facility was 4.38% and 4.88% for the Revolver and Term Loan, respectively. The New Credit Facility is secured by liens on substantially all of the Company’s and its domestic subsidiaries’ assets including a pledge of 66.66% of the equity interests in the Company’s Foreign Subsidiaries (as defined in the New Credit Facility). The New Credit Facility contains customary affirmative and negative covenants for a transaction of this type, including, among others, the provision of annual, quarterly and monthly financial statements and compliance certificates, maintenance of property, insurance, compliance with laws and environmental matters, restrictions on incurrence of indebtedness, granting of liens, making investments and acquisitions, paying dividends, entering into affiliate transactions and asset sales. Events of default under the New Credit Facility include but are not limited to: failure to pay obligations when due, breach or failure of any covenant, insolvency or bankruptcy, materially misleading representations or warranties, occurrence of a Change in Control (as defined) or occurrence of conditions that have a Material Adverse Effect (as defined). On August 3, 2017 the Company entered into Amendment No. 1 to the New Credit Facility, effective June 30, 2017, which amended the definition of “EBITDA” to exclude the non-cash inventory adjustment of $1,930 recorded during the three months ended June 30, 2017 and to reduce the pledge of equity interests in the Company’s Foreign Subsidiaries from 66.66% to 66.33%. As of March 31, 2018, and the date hereof, the Company is in compliance with the covenants of the New Credit Facility.

760000

9000000

0.85

215000

38000

2017-04-01

114000

494000

2019-11-16

0.0350

0.0300

If the Company’s Fixed Charge Coverage Ratio is greater than or equal to 1.25 to 1.00,a margin of 3.25% and 2.75%, respectively, is added to LIBOR rate with a step up to 3.50% and 3.00%, respectively, if the ratiois greater than or equal to 1.00 to 1.00 but less than 1.25 to 1.00 and another step up to 3.75% and 3.25%, respectively, if the ratiois less than 1.00 to 1.00.

0.0325

0.0275

0.0350

0.0300

0.0375

0.0325

0.0050

0.02 0.01

0.0475

0.0525

0.0438

0.0488

1930000

0.6666 0.6633

Debt consists of the following: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right; padding-right: 5pt; white-space: nowrap;">March 31, 2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Revolver at LIBOR Plus Margin</td><td style="width: 3%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 10%; text-align: right; padding-right: 5pt">2,595</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Term Loan at LIBOR Plus Margin</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 5pt">608</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Total Debt</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right; padding-right: 5pt">3,203</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Debt Maturing within one year</td><td> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right; padding-right: 2pt">(2,747)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Non-current portion of long term debt</td><td> </td> <td style="border-bottom: Black 2px solid; text-align: center">$</td><td style="border-bottom: Black 2px solid; text-align: right; padding-right: 5pt">456</td></tr> </table>

2595000

608000

3203000

2747000

NOTE 11 - ACCOUNTING FOR SHARE BASED COMPENSATION The Company’s results for the three months ended March 31, 2018 and 2017 include share-based compensation expense totaling $188 and $301, respectively. Such amounts have been included in the consolidated statement of operations and comprehensive income/loss within operating expenses. The Company accounts for forfeitures when they occur. Incentive Compensation Plan: In 2012, the Company’s Board of Directors and shareholders approved the 2012 Incentive Compensation Plan (the “Initial 2012 Plan”), which provides for the grant of equity, including restricted stock awards, non-qualified stock options and incentive stock options in compliance with the Internal Revenue Code of 1986, as amended, to employees, officers, directors, consultants and advisors of the Company who are expected to contribute to the Company’s future growth and success. When originally approved, the Initial 2012 Plan provided for the grant of awards relating to 2,000 shares of common stock, plus those shares subject to awards previously issued under the Company’s 2000 Stock Option Plan that expire, are canceled or are terminated after adoption of the Initial 2012 Plan without having been exercised in full and would have been available for subsequent grants under the 2000 Stock Option Plan. In June 2014, the Company’s shareholders approved the Amended and Restated 2012 Incentive Compensation Plan (the “2012 Plan”) allowing for an additional 1,658 shares of the Company’s common stock to be available for future grants under the 2012 Plan. The 2012 Plan provides that if awards are forfeited, expire or otherwise terminate without issuance of the shares underlying the awards, or if the award does not result in issuance of all or part of the shares underlying the award, the unissued shares are again available for awards under the 2012 Plan. As a result of certain award forfeitures and cancellations, as of March 31, 2018, there are approximately 2,500 shares available for issuance under the 2012 Plan. All service-based (time vesting) options granted have ten-year terms from the date of grant and typically vest annually and become fully exercisable after a maximum of five years. However, vesting conditions are determined on a grant by grant basis. Performance-based options granted have ten-year terms and vest and become fully exercisable when determinable performance targets are achieved. Performance targets are approved by the Company’s compensation committee of the Board of Directors. Under the 2012 Plan, options may be granted to purchase shares of the Company’s common stock exercisable only at prices equal to or above the fair market value on the date of the grant. The following summarizes the components of share-based compensation expense by equity type for the respective periods: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended March 31</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px">2018</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px">2017</td><td style="padding-bottom: 1px; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Service-based Restricted Common Stock</td><td style="width: 7%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 7%; text-align: right">63</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 7%; text-align: right">57</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Performance-based Restricted Common Stock</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Performance-based Stock Options</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Service-based Stock Options</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right">113</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right">180</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 3px"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 2px solid; text-align: center">$</td><td style="border-bottom: Black 2px solid; text-align: right">188</td><td style="border-bottom: Black 2px solid; text-align: left"> </td><td style="border-bottom: Black 2px solid"> </td> <td style="border-bottom: Black 2px solid; text-align: center">$</td><td style="border-bottom: Black 2px solid; text-align: right">301</td><td style="border-bottom: Black 2px solid; text-align: left"> </td></tr> </table> As of March 31, 2018, $444 of unrecognized compensation costs related to unvested stock options is expected to be recognized over a remaining weighted average period of 2.6 years and $37 of unrecognized compensation costs related to unvested restricted shares is expected to be recognized over a remaining weighted average period of 0.6 years. Restricted Common Stock Awards: A summary of the status of the Company’s non-vested restricted common stock, granted under the Company’s shareholder approved equity compensation plans, as of March 31, 2018, and changes during the three months ended March 31, 2018, are presented below: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap;"> </td><td style="color: black; font-weight: bold; padding-bottom: 1px; white-space: nowrap;"> </td> <td colspan="2" style="border-bottom: Black 1px solid; color: black; font-weight: bold; text-align: center; white-space: nowrap;">Shares</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td> <td colspan="2" style="border-bottom: Black 1px solid; color: black; font-weight: bold; text-align: center; white-space: nowrap;">Weighted Average Grant Date Fair Value</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 58%; color: black; font-weight: bold">Non-vested as of December 31, 2017</td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 12%; color: black; text-align: right">159</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 20%; color: black; text-align: right">$1.64</td><td style="width: 1%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Granted</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Vested and Issued</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">$1.34</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-bottom: 1px">Forfeited</td><td style="color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; padding-bottom: 2px">Non-vested as of March 31, 2018</td><td style="color: black; padding-bottom: 2px"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">159</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">$1.64</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td></tr> </table> Performance-Based Stock Option Awards: A summary of performance-based stock option activity, and related information for the three months ended March 31, 2018 follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="padding-left: 0; white-space: nowrap;"> </td><td style="color: black; font-weight: bold; padding-bottom: 1px; padding-left: 0; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-left: 0; white-space: nowrap;">Shares</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; padding-left: 0; white-space: nowrap;"> </td><td style="color: black; font-weight: bold; border-bottom: Black 1px solid; padding-left: 0; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-left: 0; white-space: nowrap;">Weighted Average Option Exercise Price per Share</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; padding-left: 0; white-space: nowrap;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 58%; color: black; font-weight: bold; padding-left: 0">Outstanding as of December 31, 2017</td><td style="width: 3%; color: black; padding-left: 0"> </td> <td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td><td style="width: 12%; color: black; text-align: right; padding-left: 0">605</td><td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td><td style="width: 3%; color: black; padding-left: 0"> </td> <td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td><td style="width: 20%; color: black; text-align: right; padding-left: 0">$1.21</td><td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-left: 0">Granted</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-left: 0">Exercised</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">(300</td><td style="color: black; text-align: left; padding-left: 0">)</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">$0.96</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-left: 0">Forfeited</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px; padding-left: 0">Expired</td><td style="color: black; padding-bottom: 1px; padding-left: 0"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-left: 0">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td><td style="color: black; border-bottom: Black 1px solid; padding-left: 0"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-left: 0">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; padding-bottom: 2px; padding-left: 0">Outstanding as of March 31, 2018</td><td style="color: black; padding-bottom: 2px; padding-left: 0"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right; padding-left: 0">305</td><td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td><td style="color: black; border-bottom: Black 2px solid; padding-left: 0"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right; padding-left: 0">$1.45</td><td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0"> </td><td style="padding-left: 0"> </td> <td style="text-align: left; padding-left: 0"> </td><td style="text-align: right; padding-left: 0"> </td><td style="text-align: left; padding-left: 0"> </td><td style="padding-left: 0"> </td> <td style="text-align: left; padding-left: 0"> </td><td style="text-align: right; padding-left: 0"> </td><td style="text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; padding-left: 0">Exercisable at March 31, 2018</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">20</td><td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">$0.78</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> </table> The aggregate intrinsic value of performance-based stock options outstanding (regardless of whether or not such options are exercisable) as of March 31, 2018 was $303 and the weighted average remaining contractual life was 7.4 years. The aggregate intrinsic value of performance-based stock options exercisable as of March 31, 2018 was $33 and the weighted average remaining contractual life was 2.7 years. The intrinsic value of options exercised during the three months ended March 31, 2018 was $444. Under the terms of the performance-based stock option agreements, the awards will fully vest and become exercisable on the date on which the Company’s Board of Directors shall have determined that specific financial performance milestones have been met, provided the employee remains in the employ of the Company at such time; provided, however, upon a Change in Control (as defined in the stock option agreements and the 2012 Plan), the stock options shall automatically vest as permitted by the 2012 Plan. As of December 31, 2017, the Company has determined that the performance conditions on 285 options granted in 2013 and later are probable of being achieved by the year ending 2021. The Company’s performance-based stock options granted prior to 2013 (consisting of 20 options) are fully amortized. Service-Based Stock Option Awards: A summary of service-based stock option activity and related information for the three months ended March 31, 2018 follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap;"> </td><td style="color: black; font-weight: bold; padding-bottom: 1px; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; white-space: nowrap;">Shares</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td><td style="color: black; font-weight: bold; border-bottom: Black 1px solid; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; white-space: nowrap;">Weighted Average Option Exercise Price per Share</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 58%; color: black; font-weight: bold">Outstanding as of December 31, 2017</td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 12%; color: black; text-align: right">1,815</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 20%; color: black; text-align: right">$1.53</td><td style="width: 1%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Granted</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">Exercised</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Forfeited</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px">Expired</td><td style="color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="color: black; border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; padding-bottom: 2px">Outstanding as of March 31, 2018</td><td style="color: black; padding-bottom: 2px"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">1,815</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="color: black; border-bottom: Black 2px solid"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">$1.53</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold">Exercisable at March 31, 2018</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">658</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">$1.42</td><td style="color: black; text-align: left"> </td></tr> </table> The aggregate intrinsic value of service-based stock options (regardless of whether or not such options are exercisable) as of March 31, 2018 was $1,660 and the weighted average remaining contractual life was 8.6 years. The aggregate intrinsic value of service-based stock options exercisable as of March 31, 2018 was $675 and the weighted average remaining contractual life was 8.2 years.

2000000

1658000

2500000

P10Y

P5Y

P10Y

444000

P2Y219D

37000

P219D

303000

P7Y146D

33000

P2Y255D

444000

285000

20000

1660000

P8Y219D

675000

P8Y73D

The following summarizes the components of share-based compensation expense by equity type for the respective periods: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended March 31</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px">2018</td><td style="padding-bottom: 1px; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1px"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px">2017</td><td style="padding-bottom: 1px; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Service-based Restricted Common Stock</td><td style="width: 7%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 7%; text-align: right">63</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 4%; text-align: center">$</td><td style="width: 7%; text-align: right">57</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Performance-based Restricted Common Stock</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Performance-based Stock Options</td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: right">59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Service-based Stock Options</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right">113</td><td style="border-bottom: Black 1px solid; text-align: left"> </td><td style="border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; text-align: center"> </td><td style="border-bottom: Black 1px solid; text-align: right">180</td><td style="border-bottom: Black 1px solid; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 3px"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 2px solid; text-align: center">$</td><td style="border-bottom: Black 2px solid; text-align: right">188</td><td style="border-bottom: Black 2px solid; text-align: left"> </td><td style="border-bottom: Black 2px solid"> </td> <td style="border-bottom: Black 2px solid; text-align: center">$</td><td style="border-bottom: Black 2px solid; text-align: right">301</td><td style="border-bottom: Black 2px solid; text-align: left"> </td></tr> </table>

63000

57000

5000

12000

59000

113000

180000

188000

301000

A summary of the status of the Company’s non-vested restricted common stock, granted under the Company’s shareholder approved equity compensation plans, as of March 31, 2018, and changes during the three months ended March 31, 2018, are presented below: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap;"> </td><td style="color: black; font-weight: bold; padding-bottom: 1px; white-space: nowrap;"> </td> <td colspan="2" style="border-bottom: Black 1px solid; color: black; font-weight: bold; text-align: center; white-space: nowrap;">Shares</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td> <td colspan="2" style="border-bottom: Black 1px solid; color: black; font-weight: bold; text-align: center; white-space: nowrap;">Weighted Average Grant Date Fair Value</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 58%; color: black; font-weight: bold">Non-vested as of December 31, 2017</td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 12%; color: black; text-align: right">159</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 20%; color: black; text-align: right">$1.64</td><td style="width: 1%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Granted</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Vested and Issued</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">$1.34</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-bottom: 1px">Forfeited</td><td style="color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; padding-bottom: 2px">Non-vested as of March 31, 2018</td><td style="color: black; padding-bottom: 2px"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">159</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">$1.64</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td></tr> </table>

159000

1.64

1.34

159000

1.64

A summary of performance-based stock option activity, and related information for the three months ended March 31, 2018 follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="padding-left: 0; white-space: nowrap;"> </td><td style="color: black; font-weight: bold; padding-bottom: 1px; padding-left: 0; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-left: 0; white-space: nowrap;">Shares</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; padding-left: 0; white-space: nowrap;"> </td><td style="color: black; font-weight: bold; border-bottom: Black 1px solid; padding-left: 0; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-left: 0; white-space: nowrap;">Weighted Average Option Exercise Price per Share</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; padding-left: 0; white-space: nowrap;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 58%; color: black; font-weight: bold; padding-left: 0">Outstanding as of December 31, 2017</td><td style="width: 3%; color: black; padding-left: 0"> </td> <td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td><td style="width: 12%; color: black; text-align: right; padding-left: 0">605</td><td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td><td style="width: 3%; color: black; padding-left: 0"> </td> <td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td><td style="width: 20%; color: black; text-align: right; padding-left: 0">$1.21</td><td style="width: 1%; color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-left: 0">Granted</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-left: 0">Exercised</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">(300</td><td style="color: black; text-align: left; padding-left: 0">)</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">$0.96</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-left: 0">Forfeited</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">-</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px; padding-left: 0">Expired</td><td style="color: black; padding-bottom: 1px; padding-left: 0"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-left: 0">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td><td style="color: black; border-bottom: Black 1px solid; padding-left: 0"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-left: 0">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; padding-bottom: 2px; padding-left: 0">Outstanding as of March 31, 2018</td><td style="color: black; padding-bottom: 2px; padding-left: 0"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right; padding-left: 0">305</td><td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td><td style="color: black; border-bottom: Black 2px solid; padding-left: 0"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right; padding-left: 0">$1.45</td><td style="border-bottom: Black 2px solid; color: black; text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0"> </td><td style="padding-left: 0"> </td> <td style="text-align: left; padding-left: 0"> </td><td style="text-align: right; padding-left: 0"> </td><td style="text-align: left; padding-left: 0"> </td><td style="padding-left: 0"> </td> <td style="text-align: left; padding-left: 0"> </td><td style="text-align: right; padding-left: 0"> </td><td style="text-align: left; padding-left: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; padding-left: 0">Exercisable at March 31, 2018</td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">20</td><td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; padding-left: 0"> </td> <td style="color: black; text-align: left; padding-left: 0"> </td><td style="color: black; text-align: right; padding-left: 0">$0.78</td><td style="color: black; text-align: left; padding-left: 0"> </td></tr> </table>

605000

1.21

300000

0.96

305000

1.45

20000

0.78

A summary of service-based stock option activity and related information for the three months ended March 31, 2018 follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap;"> </td><td style="color: black; font-weight: bold; padding-bottom: 1px; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; white-space: nowrap;">Shares</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td><td style="color: black; font-weight: bold; border-bottom: Black 1px solid; white-space: nowrap;"> </td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; white-space: nowrap;">Weighted Average Option Exercise Price per Share</td><td style="border-bottom: Black 1px solid; color: black; font-weight: bold; white-space: nowrap;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 58%; color: black; font-weight: bold">Outstanding as of December 31, 2017</td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 12%; color: black; text-align: right">1,815</td><td style="width: 1%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 1%; color: black; text-align: left"> </td><td style="width: 20%; color: black; text-align: right">$1.53</td><td style="width: 1%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Granted</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">Exercised</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Forfeited</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px">Expired</td><td style="color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="color: black; border-bottom: Black 1px solid"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; padding-bottom: 2px">Outstanding as of March 31, 2018</td><td style="color: black; padding-bottom: 2px"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">1,815</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="color: black; border-bottom: Black 2px solid"> </td> <td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td><td style="border-bottom: Black 2px solid; color: black; text-align: right">$1.53</td><td style="border-bottom: Black 2px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold">Exercisable at March 31, 2018</td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">658</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: left"> </td><td style="color: black; text-align: right">$1.42</td><td style="color: black; text-align: left"> </td></tr> </table>

1815000

1.53

1815000

1.53

658000

1.42

NOTE 12 – SEGMENT INFORMATION The operating businesses of the Company are segregated into three reportable segments: (i) Network Solutions, (ii) Test and Measurement and (iii) Embedded Solutions. Network Solutions The Network Solutions segment is comprised primarily of the operations of the Company’s subsidiary, Microlab. Network Solutions designs and manufactures a wide selection of RF passive components and integrated subsystems for signal conditioning and distribution in the wireless infrastructure markets, particularly for small cell deployments, DAS, the in-building wireless solutions industry and radio base-station market. Network Solutions also offers active solution sets to assist in network timing for tunnels and in-building wireless signaling. Network Solutions external customers include telecommunications service providers, systems integrators, neutral host operators and distributors. Test and Measurement The Test and Measurement segment is comprised primarily of the Company’s operations of the Noisecom product line and the operations of its subsidiary, Boonton. Noisecom designs and produces noise generation equipment and instruments, calibrated noise sources, noise modules and diodes. Noise components and instruments are used as a method to provide wide band signals for sophisticated telecommunication and defense applications, and as a stable reference standard for instruments and systems, including radar and satellite communications. Boonton products are also used to test terrestrial and satellite communications, radar and telemetry. Certain power meter products are designed for measuring signals based on wideband modulation formats, allowing a variety of measurements to be made, including maximum power, peak power, average power and minimum power. Customers of the Test and Measurement segment include large defense contractors and the U.S. and foreign governments. Embedded Solutions The Embedded Solutions segment is comprised of the operations of CommAgility Limited which was acquired on February 17, 2017. Embedded Solutions supplies signal processing technology for network validation systems supporting LTE and emerging 5G networks. Additionally, this segment licenses, implements and configures LTE PHY layer and stack software for private LTE networks supporting satellite communications, the military and aerospace industries. Customers include wireless communication test equipment companies, defense subcontractors and global technology and services companies. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. The Company allocates resources and evaluates the performance of segments based on income or loss from operations, excluding interest, corporate expenses and other income (expenses). Financial information by reportable segment for the respective periods is set forth below: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 9pt"> </td><td style="font-size: 10pt; color: black; font-weight: bold; padding-bottom: 1px"> </td> <td colspan="7" style="font-size: 10pt; color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid">For the three months ended March 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; color: black; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; color: black; font-weight: bold; text-align: center">2018</td><td style="font-size: 10pt; color: black; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; color: black; font-weight: bold; text-align: center">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Net sales by segment:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 58%; font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="width: 3%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">5,511</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td><td style="width: 3%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">5,515</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">3,763</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">3,037</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">3,990</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">997</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 3px">Total consolidated net sales of reportable segments</td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">13,264</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">9,549</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Segment income (loss):</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right">$</td><td style="font-size: 10pt; text-align: right">813</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">908</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: right">510</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">25</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; text-align: right">611</td><td style="border-bottom: Black 1px solid; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">(229</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Income (loss) from reportable segments</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">1,934</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">704</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Other unallocated amounts:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Corporate expenses</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: right">(1,413</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">(2,422</td><td style="font-size: 10pt; color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Other (expenses) income - net</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">(91</td><td style="font-size: 10pt; color: black; text-align: left">)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">(51</td><td style="font-size: 10pt; color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Consolidated income/(loss) before Income tax provision/(benefit)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">$</td><td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">430</td><td style="font-size: 10pt; color: black; text-align: left; border-top: Black 1px solid"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">$</td><td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">(1,769</td><td style="font-size: 10pt; color: black; text-align: left; border-top: Black 1px solid">)</td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Depreciation and amortization by segment:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">136</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">102</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">175</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">93</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">315</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">219</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Total depreciation and amortization for reportable segments</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">626</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">414</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Capital expenditures by segment:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">78</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">84</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">102</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">66</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">19</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">42</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Total consolidated capital expenditures by reportable segment</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">199</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">192</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="color: black; text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">March 31,</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">December 31,</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: black; text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">2018</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">2017</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">Total assets by segment:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 58%; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="width: 3%; color: black"> </td> <td style="width: 2%; color: black; text-align: right">$</td><td style="width: 12%; color: black; text-align: right">11,046</td><td style="width: 4%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 2%; color: black; text-align: right">$</td> <td style="width: 12%; color: black; text-align: right">10,442</td><td style="width: 4%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td><td style="color: black; text-align: right">6,559</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td><td style="color: black; text-align: right">6,163</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">19,628</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right">21,733</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Total assets for reportable segments</td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td><td style="color: black; text-align: right">37,233</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td> <td style="color: black; text-align: right">38,338</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 10pt; text-indent: -10pt">Corporate assets, principally cash and cash equivalents and deferred income taxes</td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">8,890</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">8,583</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-bottom: 3px">Total consolidated assets</td><td style="padding-bottom: 3px; color: black"> </td> <td style="border-bottom: Black 3px double; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; color: black; text-align: right">46,123</td><td style="border-bottom: Black 3px double; color: black; text-align: left"> </td><td style="padding-bottom: 3px; color: black"> </td> <td style="border-bottom: Black 3px double; color: black; text-align: right">$</td> <td style="border-bottom: Black 3px double; color: black; text-align: right">46,921</td><td style="border-bottom: Black 3px double; color: black; text-align: left"> </td></tr> </table> Consolidated net sales by region were as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; color: black"> </td> <td colspan="7" style="font-size: 10pt; color: black; text-align: center; border-bottom: Black 1px solid">Three Months Ended March 31</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td colspan="3" style="font-size: 10pt; color: black; text-align: center; border-bottom: Black 1px solid">2018</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td colspan="3" style="font-size: 10pt; color: black; text-align: center; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-decoration: underline; text-align: left; text-indent: -10pt; padding-left: 10pt">Sales by region</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 56%; font-size: 10pt; color: black; text-indent: -10pt; padding-left: 10pt">Americas</td><td style="width: 3%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">8,097</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td><td style="width: 5%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">6,965</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; text-indent: -10pt; padding-left: 10pt">Europe, Middle East, Africa (EMEA)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">3,760</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">1,523</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Asia Pacific (APAC)</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">1,407</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">1,061</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 3px; text-indent: -10pt; padding-left: 10pt">Total sales</td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">13,264</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">9,549</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td></tr> </table> Net sales are attributable to a geographic area based on the destination of the product shipment. The majority of shipments in the Americas are to customers located within the United States. For the three months ended March 31, 2018 and 2017, revenues in the United States for all reportable segments amounted to $7,946 and $6,465, respectively. Shipments for the three months ended March 31, 2108 to the EMEA region for all reportable segments were largely concentrated in the UK and Luxembourg at $2,261 and $313, respectively. For the three months ended March 31, 2017 shipments were largely concentrated in United Kingdom and Germany amounting to $596 and $212 , respectively. The largest concentration of shipments in the APAC region is to China. For the three month period ending March 31, 2018 and 2017, shipments to China amounted to $956 and $650, respectively.

7946000

6465000

2261000

313000

596000

212000

956000

650000

Financial information by reportable segment for the respective periods is set forth below: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 9pt"> </td><td style="font-size: 10pt; color: black; font-weight: bold; padding-bottom: 1px"> </td> <td colspan="7" style="font-size: 10pt; color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid">For the three months ended March 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; color: black; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; color: black; font-weight: bold; text-align: center">2018</td><td style="font-size: 10pt; color: black; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; color: black; font-weight: bold; text-align: center">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Net sales by segment:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 58%; font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="width: 3%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">5,511</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td><td style="width: 3%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">5,515</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">3,763</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">3,037</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">3,990</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">997</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 3px">Total consolidated net sales of reportable segments</td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">13,264</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">9,549</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Segment income (loss):</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right">$</td><td style="font-size: 10pt; text-align: right">813</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">908</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: right">510</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">25</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; text-align: right">611</td><td style="border-bottom: Black 1px solid; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">(229</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Income (loss) from reportable segments</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">1,934</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">704</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Other unallocated amounts:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Corporate expenses</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: right">(1,413</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">(2,422</td><td style="font-size: 10pt; color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Other (expenses) income - net</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">(91</td><td style="font-size: 10pt; color: black; text-align: left">)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">(51</td><td style="font-size: 10pt; color: black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Consolidated income/(loss) before Income tax provision/(benefit)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">$</td><td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">430</td><td style="font-size: 10pt; color: black; text-align: left; border-top: Black 1px solid"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">$</td><td style="font-size: 10pt; color: black; text-align: right; border-top: Black 1px solid">(1,769</td><td style="font-size: 10pt; color: black; text-align: left; border-top: Black 1px solid">)</td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Depreciation and amortization by segment:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">136</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">102</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">175</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">93</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">315</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">219</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left">Total depreciation and amortization for reportable segments</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">626</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">414</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Capital expenditures by segment:</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">78</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">84</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">102</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">66</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">19</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">42</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left">Total consolidated capital expenditures by reportable segment</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">199</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right">$</td><td style="font-size: 10pt; color: black; text-align: right">192</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> </table> 813000 908000 510000 25000 611000 -229000 1934000 704000 -1413000 -2422000

91000

51000

136000

102000

175000

93000

315000

219000

78000

84000

102000

66000

19000

42000

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 93%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="color: black; text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">March 31,</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">December 31,</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: black; text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">2018</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center">2017</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">Total assets by segment:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 58%; color: black; text-align: left; padding-left: 20pt">Network Solutions</td><td style="width: 3%; color: black"> </td> <td style="width: 2%; color: black; text-align: right">$</td><td style="width: 12%; color: black; text-align: right">11,046</td><td style="width: 4%; color: black; text-align: left"> </td><td style="width: 3%; color: black"> </td> <td style="width: 2%; color: black; text-align: right">$</td> <td style="width: 12%; color: black; text-align: right">10,442</td><td style="width: 4%; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-left: 20pt">Test and Measurement</td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td><td style="color: black; text-align: right">6,559</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td><td style="color: black; text-align: right">6,163</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 20pt">Embedded Solutions</td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">19,628</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right">21,733</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Total assets for reportable segments</td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td><td style="color: black; text-align: right">37,233</td><td style="color: black; text-align: left"> </td><td style="color: black"> </td> <td style="color: black; text-align: right"> </td> <td style="color: black; text-align: right">38,338</td><td style="color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 10pt; text-indent: -10pt">Corporate assets, principally cash and cash equivalents and deferred income taxes</td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">8,890</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td><td style="padding-bottom: 1px; color: black"> </td> <td style="border-bottom: Black 1px solid; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; color: black; text-align: right">8,583</td><td style="border-bottom: Black 1px solid; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-bottom: 3px">Total consolidated assets</td><td style="padding-bottom: 3px; color: black"> </td> <td style="border-bottom: Black 3px double; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; color: black; text-align: right">46,123</td><td style="border-bottom: Black 3px double; color: black; text-align: left"> </td><td style="padding-bottom: 3px; color: black"> </td> <td style="border-bottom: Black 3px double; color: black; text-align: right">$</td> <td style="border-bottom: Black 3px double; color: black; text-align: right">46,921</td><td style="border-bottom: Black 3px double; color: black; text-align: left"> </td></tr> </table> 11046000 10442000 6559000 6163000 19628000 21733000 37233000 38338000 8890000 8583000

Consolidated net sales by region were as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; color: black"> </td> <td colspan="7" style="font-size: 10pt; color: black; text-align: center; border-bottom: Black 1px solid">Three Months Ended March 31</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td colspan="3" style="font-size: 10pt; color: black; text-align: center; border-bottom: Black 1px solid">2018</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td colspan="3" style="font-size: 10pt; color: black; text-align: center; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-decoration: underline; text-align: left; text-indent: -10pt; padding-left: 10pt">Sales by region</td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 56%; font-size: 10pt; color: black; text-indent: -10pt; padding-left: 10pt">Americas</td><td style="width: 3%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">8,097</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td><td style="width: 5%; font-size: 10pt; color: black"> </td> <td style="width: 2%; font-size: 10pt; color: black; text-align: right">$</td><td style="width: 12%; font-size: 10pt; color: black; text-align: right">6,965</td><td style="width: 4%; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; text-indent: -10pt; padding-left: 10pt">Europe, Middle East, Africa (EMEA)</td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">3,760</td><td style="font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black"> </td> <td style="font-size: 10pt; color: black; text-align: right"> </td><td style="font-size: 10pt; color: black; text-align: right">1,523</td><td style="font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 1px; text-indent: -10pt; padding-left: 10pt">Asia Pacific (APAC)</td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">1,407</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right"> </td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: right">1,061</td><td style="border-bottom: Black 1px solid; font-size: 10pt; color: black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-size: 10pt; color: black; text-align: left; padding-bottom: 3px; text-indent: -10pt; padding-left: 10pt">Total sales</td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">13,264</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td><td style="font-size: 10pt; color: black; padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">$</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: right">9,549</td><td style="border-bottom: Black 3px double; font-size: 10pt; color: black; text-align: left"> </td></tr> </table>

NOTE 13 – COMMITMENTS AND CONTINGENCIES There have been no material changes in our commitments and contingencies and risks and uncertainties as of March 31, 2018 from that as previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2017.

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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2018	May 01, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	WIRELESS TELECOM GROUP INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		20,979,651
Amendment Flag	false
Entity Central Index Key	0000878828
Entity Filer Category	Smaller Reporting Company
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash & cash equivalents	$ 2,240	$ 2,458
Accounts receivable - net of reserves of $42 and $44, respectively	10,747	9,041
Inventories - net of reserves of $1,732 and $1,856, respectively	7,053	6,526
Prepaid expenses and other current assets	1,725	4,733
TOTAL CURRENT ASSETS	21,765	22,758
PROPERTY PLANT AND EQUIPMENT - NET	2,639	2,730
OTHER ASSETS
Goodwill	10,598	10,260
Acquired Intangible Assets, net	4,391	4,511
Deferred income taxes	5,958	5,939
Other	772	723
TOTAL OTHER ASSETS	21,719	21,433
TOTAL ASSETS	46,123	46,921
CURRENT LIABILITIES
Short term debt	2,747	1,335
Accounts payable	3,922	4,109
Accrued expenses and other current liabilities	3,884	2,894
Deferred Revenue	808	629
TOTAL CURRENT LIABILITIES	11,361	8,967
LONG TERM LIABILITIES
Long term debt	456	494
Other long term liabilities	100	1,590
Deferred Tax Liability	852	767
TOTAL LONG TERM LIABILITIES	1,408	2,851
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Preferred stock, $.01 par value, 2,000,000 shares authorized, none issued
Common stock, $.01 par value, 75,000,000 shares authorized, 34,168,252 and 33,868,252 shares issued, 20,979,651 and 22,772,167 shares outstanding	342	339
Additional paid in capital	47,967	47,494
Retained earnings	7,971	7,176
Treasury stock at cost, - 13,188,601 and 11,096,085 shares, respectively	(24,509)	(20,910)
Accumulated Other Comprehensive Income	1,583	1,004
TOTAL SHAREHOLDERS’ EQUITY	33,354	35,103
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 46,123	$ 46,921

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable, net of reserves (in Dollars)	$ 42	$ 44
Inventories, net of reserves (in Dollars)	$ 1,732	$ 1,856
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized,	75,000,000	75,000,000
Common stock, shares issued	34,168,252	33,868,252
Common stock, shares outstanding	20,979,651	22,772,167
Treasury stock, shares	13,188,601	11,096,085

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
NET REVENUES	$ 13,264	$ 9,549
COST OF REVENUES	6,996	5,216
GROSS PROFIT	6,268	4,333
Operating Expenses
Research and Development	1,157	1,087
Sales and Marketing	1,910	1,552
General and Administrative	2,681	3,412
Total Operating Expenses	5,748	6,051
Operating income/(loss)	520	(1,718)
Other income/(expense)	2	(2)
Interest Expense	(92)	(49)
Income/(loss) before taxes	430	(1,769)
Tax Provision/(Benefit)	56	(538)
Net Income/(Loss)	374	(1,231)
Other Comprehensive Income/(Loss):
Foreign currency translation adjustments	579	(59)
Comprehensive Income/(Loss)	$ 953	$ (1,290)
Net Income/(Loss) per common share:
Basic (in Dollars per share)	$ 0.02	$ (0.06)
Diluted (in Dollars per share)	$ 0.02	$ (0.06)
Weighted average shares outstanding:
Basic (in Shares)	20,644,409	20,386,678
Diluted (in Shares)	21,633,117	20,386,678

XML 16 R5.htm IDEA: XBRL DOCUMENT

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS PROVIDED/(USED) BY OPERATING ACTIVITIES
Net Income/(loss)	$ 374	$ (1,231)
Adjustments to reconcile net income/(loss) to net cash (used) by operating activities:
Depreciation and amortization	626	414
Amortization of debt issuance fees	19	9
Share-based compensation expense	188	301
Deferred rent	5	8
Deferred income taxes	37	(496)
Provision for (recovery of) doubtful accounts	(1)	1
Inventory reserves	19	100
Changes in assets and liabilities, net of acquisition:
Accounts receivable	(1,574)	(231)
Inventories	(524)	(412)
Prepaid expenses and other assets	(507)	125
Accounts payable	(255)	352
Accrued expenses and other liabilities	635	160
Net cash (used) by operating activities	(958)	(900)
CASH FLOWS (USED) BY INVESTING ACTIVITIES
Capital expenditures	(199)	(192)
Acquisition of business net of cash acquired	(811)	(8,596)
Net cash (used) by investing activities	(1,010)	(8,788)
CASH FLOWS PROVIDED/(USED) BY FINANCING ACTIVITIES
Revolver borrowings	10,603	3,399
Revolver repayments	(9,191)	(1,494)
Term loan borrowings		760
Term loan repayments	(38)
Debt issuance fees		(215)
Proceeds from exercise of stock options	288	38
Net cash provided/(used) by financing activities	1,662	2,488
Effect of exchange rate changes on cash and cash equivalents	88	27
NET (DECREASE) IN CASH AND CASH EQUIVALENTS	(218)	(7,173)
Cash and cash equivalents, at beginning of period	2,458	9,351
CASH AND CASH EQUIVALENTS, AT END OF PERIOD	2,240	2,178
SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest	36	5
Cash paid during the period for income taxes	$ 9
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of Common Shares as Consideration		$ 5,999

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CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (UNAUDITED) - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Total
Balances at Dec. 31, 2017	$ 339	$ 47,494	$ 7,176	$ (20,910)	$ 1,004	$ 35,103
Balances, shares (in Shares) at Dec. 31, 2017	33,868,252					33,868,252
Adoption of Accounting Standard			421			$ 421
Adjusted Opening Equity at Dec. 31, 2017	$ 339	47,494	7,597	(20,910)	1,004	35,524
Adjusted Opening Equity, shares (in Shares) at Dec. 31, 2017	33,868,252
Net Income (loss)			374			374
Issuance of shares in connection with stock options exercised	$ 3	285				288
Issuance of shares in connection with stock options exercised (in Shares)	300,000
Forfeiture of shares issued in connection with CommAgility acquisition				(3,599)		(3,599)
Share-based compensation expense		188				188
Cumulative translation adjustment					579	579
Balances at Mar. 31, 2018	$ 342	$ 47,967	$ 7,971	$ (24,509)	$ 1,583	$ 33,354
Balances, shares (in Shares) at Mar. 31, 2018	34,168,252					34,168,252

XML 18 R7.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES

Basis of Presentation

Condensed Consolidated Financial Statements

The results of operations for the three month period ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018.

Use of Estimates

Foreign Currency Translation

Concentration Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable.

Fair Value of Financial Instruments

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement.

Contingent Consideration

The significant inputs used in this fair value estimate include gross revenues and Adjusted EBITDA, as defined, scenarios for the earn-out periods for which probabilities are assigned to each scenario to arrive at a single estimated outcome. The estimated outcome is then discounted based on individual risk analysis of the liability. Although the Company believes its estimates and assumptions are reasonable, different assumptions, including those regarding the operating results of CommAgility or changes in the future, may result in different estimated amounts.

Subsequent Events

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RECENT ACCOUNTING PRONOUNCEMENTS

3 Months Ended

Mar. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Accounting Changes and Error Corrections [Text Block]

NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS

Adopted During The Three Months Ended March 31, 2018

	Three Months Ended March 31, 2018
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME	As Reported (in Accordance with ASC Topic 606)		Balances Without Adoption of ASC Topic 606		Impact of Adoption Higher/(Lower)
Net sales	$	13,264	$	12,958	$	306
Operating income		430		124		306
Net income		374		68		306

	As of March 31, 2018
CONDENSED CONSOLIDATED BALANCE SHEET	As Reported (in Accordance with ASC Topic 606)		Balances Without Adoption of ASC Topic 606		Impact of Adoption Higher/(Lower)
CURRENT ASSETS
Prepaid expenses and other current assets	$	1,725	$	1,241	$	484
CURRENT LIABILITIES
Deferred revenue		808		1,068		(260	)
SHAREHOLDERS’ EQUITY
Retained earnings		7,971		7,665		306

Recent Accounting Pronouncements Not Yet Adopted

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REVENUE

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

NOTE 3 – REVENUE

Nature of Products and Services

Hardware

	·	when the Company has a present right to payment for the asset
	·	when the Company has transferred physical possession of the asset to the customer
	·	when the customer has the significant risks and rewards of ownership of the asset
	·	when the customer has accepted the asset

Software

Services

Shipping and Handling

Shipping and handling activities performed after the customer obtains control are accounted for as fulfillment activities and recognized as cost of revenues.

Significant Judgments

Certain of the Company shipments include a limited return right. In accordance with Topic 606 the Company recognizes revenue net of expected returns.

Contract Balances

Disaggregated Revenue

	Three Months Ended March 31, 2018
Total Net Revenues by Revenue Type	Network Solutions		Test and Measurement		Embedded Solutions		Total
RF Solutions	$	5,511	$	-	$	-	$	5,511
Noise Generators and Components		-		1,499		-		1,499
Power Meters and Analyzers		-		1,980		-		1,980
Signal Processing Hardware		-		-		2,906		2,906
Software Licenses		-		-		483		483
Services		-		284		601		885
Total Net Revenue	$	5,511	$	3,763	$	3,990	$	13,264

Total Net Revenues By Geographic Areas	Network Solutions		Test and Measurement		Embedded Solutions		Total
Americas	$	4,159	$	2,515	$	1,423	$	8,097
EMEA		941		449		2,370		3,760
APAC		411		799		197		1,407
Total Net Revenue	$	5,511	$	3,763	$	3,990	$	13,264

	Three Months Ended March 31, 2017
Total Net Revenues By Revenue Type		Network Solutions		Test and Measurement		Embedded Solutions		Total
RF Solutions		$	5,515	$	-	$	-	$	5,515
Noise Generators and Components			-		1,217		-		1,217
Power Meters and Analyzers			-		1,536		-		1,536
Signal Processing Hardware			-		-		382		382
Software Licenses			-		-		85		85
Services			-		284		530		814
Total Net Revenue		$	5,515	$	3,037	$	997	$	9,549

Total Net Revenues by Geographic Areas	Network Solutions		Test and Measurement		Embedded Solutions		Total
Americas		4,710		1,690		565		6,965
EMEA		572		554		397		1,523
APAC		233		793		35		1,061
Total Net Revenue		5,515		3,037		997		9,549

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PREPAID EXPENSES AND OTHER CURRENT ASSETS

3 Months Ended

Mar. 31, 2018

Prepaid Expenses and Other Current Assets [Abstract]

Prepaid Expenses and Other Current Assets [Text Block]

NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS

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ACQUISITION OF COMMAGILITY

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

NOTE 5 – ACQUISITION OF COMMAGILITY

On February 17, 2017, Wireless Telecommunications, Ltd. (the “Acquisition Subsidiary”), a company incorporated in England and Wales which is a wholly owned subsidiary of Wireless Telecom Group, Inc., completed the acquisition of all the issued shares in CommAgility Limited, (“CommAgility”) a company incorporated in England and Wales (the “Acquisition”) from CommAgility’s founders. The Acquisition was completed pursuant to the terms of a Share Purchase Agreement, dated February 17, 2017, and entered into by and among the Company, the Acquisition Subsidiary and the founders. The Company paid $11,318 in cash on acquisition date and issued 3,488 shares of newly issued Company common stock (“Consideration Shares”) with an acquisition date fair value of $6,000. In addition to the acquisition date cash purchase price the sellers were paid an additional $2,500 in the form of deferred purchase price payable in installments beginning in March 2017 through January 2019 and were paid an additional purchase price adjustment based on working capital and cash levels of $1,400. Lastly, the sellers could have earned an additional £10,000 in purchase price if certain financial targets were met for the years ending December 31, 2017 and December 31, 2018. (See Note 1).

The following table summarizes the activity related to contingent consideration and deferred purchase price for the three months ended March 31, 2018:

	Contingent Consideration		Deferred Purchase Price
Balance at December 31, 2017	$	630	$	1,230
Accretion of Interest		24		-
Payment		-		(811	)
Foreign Currency Translation		24		48
Balance as of March 31, 2018	$	678	$	467

As of March 31, 2018, contingent consideration liability and deferred purchase price are included in accrued expenses and other current liabilities on the condensed consolidated balance sheet.

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INCOME TAXES

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 6 – INCOME TAXES

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INCOME (LOSS) PER COMMON SHARE

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 7 - INCOME (LOSS) PER COMMON SHARE

Basic income (loss) per share is calculated by dividing income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share is calculated by dividing income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options using the treasury stock method and unvested restricted shares. In periods with a net loss, the basic loss per share equals the diluted loss per share as all common stock equivalents are excluded from the per share calculation because they are anti-dilutive. In accordance with ASC 260, “Earnings Per Share”, the following table reconciles basic shares outstanding to fully diluted shares outstanding.

	For the Three Months Ended March 31,
	2018		2017

Weighted average common shares outstanding		20,644		20,386
Potentially dilutive stock options		989		780

Weighted average common shares outstanding, assuming dilution		21,633		21,166

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INVENTORIES

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 8 – INVENTORIES

Inventory carrying value is net of inventory reserves of $1,732 and $1,856 at March 31, 2018 and December 31, 2017, respectively.

Inventories consist of:

	March 31, 2018		December 31, 2017
Raw materials	$	3,678	$	3,231
Work-in-process		592		631
Finished goods		2,783		2,664
	$	7,053	$	6,526

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GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 9 – GOODWILL AND INTANGIBLE ASSETS

Goodwill consists of the following:

	March 31, 2018
Beginning Balance	$	10,260
Foreign Currency Translation		338
Ending Balance	$	10,598

Intangible assets consist of the following:

	March 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Foreign Exchange Translation		Net Carrying Amount
Customer Relationships	$	2,766	$	(646	)	$	268	$	2,388
Patents		615		(143	)		59		531
Non Compete Agreements		1,107		(436	)		100		771
Tradename		629		-			72		701
Total	$	5,117	$	(1,225	)	$	499	$	4,391

	December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Foreign Exchange Translation		Net Carrying Amount
Customer Relationships	$	2,766	$	(494	)	$	178	$	2,450
Patents		615		(109	)		39		545
Non Compete Agreements		1,107		(334	)		69		842
Tradename		629		-			45		674
Total	$	5,117	$	(937	)	$	331	$	4,511

The estimated future amortization expense related to intangible assets is as follows as of March 31, 2018:

Remainder 2018	$	873
2019		1,165
2020		805
2021		754
2022		94
Total	$	3,691

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DEBT

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

NOTE 10 – DEBT

Debt consists of the following:

	March 31, 2018
Revolver at LIBOR Plus Margin	$	2,595
Term Loan at LIBOR Plus Margin		608
Total Debt		3,203
Debt Maturing within one year		(2,747)
Non-current portion of long term debt	$	456

The New Credit Facility is secured by liens on substantially all of the Company’s and its domestic subsidiaries’ assets including a pledge of 66.66% of the equity interests in the Company’s Foreign Subsidiaries (as defined in the New Credit Facility). The New Credit Facility contains customary affirmative and negative covenants for a transaction of this type, including, among others, the provision of annual, quarterly and monthly financial statements and compliance certificates, maintenance of property, insurance, compliance with laws and environmental matters, restrictions on incurrence of indebtedness, granting of liens, making investments and acquisitions, paying dividends, entering into affiliate transactions and asset sales. Events of default under the New Credit Facility include but are not limited to: failure to pay obligations when due, breach or failure of any covenant, insolvency or bankruptcy, materially misleading representations or warranties, occurrence of a Change in Control (as defined) or occurrence of conditions that have a Material Adverse Effect (as defined).

As of March 31, 2018, and the date hereof, the Company is in compliance with the covenants of the New Credit Facility.

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ACCOUNTING FOR SHARE BASED COMPENSATION

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 11 - ACCOUNTING FOR SHARE BASED COMPENSATION

Incentive Compensation Plan:

The following summarizes the components of share-based compensation expense by equity type for the respective periods:

	Three Months Ended March 31
	2018		2017
Service-based Restricted Common Stock	$	63	$	57
Performance-based Restricted Common Stock		-		5
Performance-based Stock Options		12		59
Service-based Stock Options		113		180
	$	188	$	301

Restricted Common Stock Awards:

	Shares		Weighted Average Grant Date Fair Value
Non-vested as of December 31, 2017		159		$1.64
Granted		-		-
Vested and Issued		-		$1.34
Forfeited		-		-
Non-vested as of March 31, 2018		159		$1.64

Performance-Based Stock Option Awards:

A summary of performance-based stock option activity, and related information for the three months ended March 31, 2018 follows:

	Shares			Weighted Average Option Exercise Price per Share
Outstanding as of December 31, 2017		605			$1.21
Granted		-			-
Exercised		(300	)		$0.96
Forfeited		-			-
Expired		-			-
Outstanding as of March 31, 2018		305			$1.45

Exercisable at March 31, 2018		20			$0.78

Service-Based Stock Option Awards:

A summary of service-based stock option activity and related information for the three months ended March 31, 2018 follows:

	Shares		Weighted Average Option Exercise Price per Share
Outstanding as of December 31, 2017		1,815		$1.53
Granted		-		-
Exercised		-		-
Forfeited		-		-
Expired		-		-
Outstanding as of March 31, 2018		1,815		$1.53

Exercisable at March 31, 2018		658		$1.42

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SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 12 – SEGMENT INFORMATION

The operating businesses of the Company are segregated into three reportable segments: (i) Network Solutions, (ii) Test and Measurement and (iii) Embedded Solutions.

Network Solutions

Test and Measurement

Embedded Solutions

Financial information by reportable segment for the respective periods is set forth below:

	For the three months ended March 31,
	2018			2017
Net sales by segment:
Network Solutions	$	5,511		$	5,515
Test and Measurement		3,763			3,037
Embedded Solutions		3,990			997
Total consolidated net sales of reportable segments	$	13,264		$	9,549

Segment income (loss):
Network Solutions	$	813		$	908
Test and Measurement		510			25
Embedded Solutions		611			(229	)
Income (loss) from reportable segments		1,934			704

Other unallocated amounts:
Corporate expenses		(1,413	)		(2,422	)
Other (expenses) income - net		(91	)		(51	)
Consolidated income/(loss) before Income tax provision/(benefit)	$	430		$	(1,769	)

Depreciation and amortization by segment:
Network Solutions	$	136		$	102
Test and Measurement		175			93
Embedded Solutions		315			219
Total depreciation and amortization for reportable segments	$	626		$	414

Capital expenditures by segment:
Network Solutions	$	78		$	84
Test and Measurement		102			66
Embedded Solutions		19			42
Total consolidated capital expenditures by reportable segment	$	199		$	192

	March 31,		December 31,
	2018		2017
Total assets by segment:
Network Solutions	$	11,046	$	10,442
Test and Measurement		6,559		6,163
Embedded Solutions		19,628		21,733
Total assets for reportable segments		37,233		38,338

Corporate assets, principally cash and cash equivalents and deferred income taxes		8,890		8,583
Total consolidated assets	$	46,123	$	46,921

Consolidated net sales by region were as follows:

	Three Months Ended March 31
	2018		2017
Sales by region
Americas	$	8,097	$	6,965
Europe, Middle East, Africa (EMEA)		3,760		1,523
Asia Pacific (APAC)		1,407		1,061
Total sales	$	13,264	$	9,549

Net sales are attributable to a geographic area based on the destination of the product shipment.

The largest concentration of shipments in the APAC region is to China. For the three month period ending March 31, 2018 and 2017, shipments to China amounted to $956 and $650, respectively.

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COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 13 – COMMITMENTS AND CONTINGENCIES

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Accounting Policies, by Policy (Policies)	3 Months Ended
Accounting Policies, by Policy (Policies)	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation Wireless Telecom Group, Inc., a New Jersey corporation, together with its subsidiaries (“we”, “us”, “our” or the “Company”), is a global designer and manufacturer of advanced radio frequency (“RF”) and microwave components, modules, systems and instruments and currently markets its products and services worldwide under the Boonton, Microlab, Noisecom and CommAgility brands. Serving the wireless, telecommunication, satellite, military, aerospace, and semiconductor industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, long term evolution (“LTE”) physical layer (“PHY”) and stack software, power splitters and combiners, global positioning system (“GPS”) repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe. The condensed consolidated balance sheet as of March 31, 2018, the condensed consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2018 and 2017, the condensed consolidated statements of cash flows for the three months ended March 31, 2018 and 2017 and the condensed consolidated statement of shareholders’ equity for the three months ended March 31, 2018 have been prepared by the Company without audit. The condensed consolidated financial statements include the accounts of Wireless Telecom Group, Inc., doing business as and operating under the trade name, Noisecom, and its wholly owned subsidiaries including Boonton Electronics Corporation (“Boonton”), Microlab/FXR (“Microlab”), Wireless Telecommunications Ltd. and CommAgility Limited (“CommAgility”). All intercompany transactions and balances have been eliminated in consolidation. It is suggested that these interim condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements, and the notes thereto, included in the Company’s latest shareholders’ annual report (Form 10-K).
Consolidation, Policy [Policy Text Block]	Condensed Consolidated Financial Statements In the opinion of management, the accompanying condensed consolidated financial statements referred to above contain all necessary adjustments, consisting of normal accruals and recurring entries, which are necessary to fairly present the Company’s results for the interim periods being presented. The accounting policies followed by the Company are set forth in Note 1 to the Company’s financial statements included in its annual report on Form 10-K for the year ended December 31, 2017. Specific reference is made to that report since certain information and footnote disclosures normally included in financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP) have been reduced for interim periods in accordance with SEC rules. The results of operations for the three month period ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (including inventory valuation, accounts receivable valuation, valuation of deferred tax assets, intangible assets, estimated fair values of stock options and estimated fair values of acquired assets and liabilities in business combinations) and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of net revenues and expenses during the reporting period. Actual results could differ from those estimates.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation Assets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where the local currency is the functional currency, are translated from foreign currencies into U.S. dollars at period-end exchange rates while income and expenses are translated at the weighted average spot rate for the periods presented. Translation gains or losses related to net assets located outside the U.S. are shown as a component of accumulated other comprehensive income in the Consolidated Statements of Shareholders’ Equity. Gains and losses resulting from foreign currency transactions, which are denominated in currencies other than the Company’s functional currency, are included in the Consolidated Statements of Operations and Comprehensive Loss.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. Credit evaluations are performed on customers requiring credit over a certain amount. Credit risk is mitigated to a lesser extent through collateral such as letters of credit, bank guarantees or payment terms like cash in advance. For the three months ended March 31, 2018, one customer accounted for approximately 16% of the Company’s consolidated revenues. For the three months ended March 31, 2017, one customer accounted for approximately 11% of the Company’s consolidated revenues. At March 31, 2018, one customer exceeded 10% of consolidated gross accounts receivable at 23% of the Company’s gross accounts receivable. At December 31, 2017, two customers exceeded 10% of consolidated gross accounts receivable at 18% and 11%, respectively.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The carrying amounts of the Company’s financial instruments, including cash, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The Company’s term loan and revolving credit facility bear interest at a variable interest rate plus an applicable margin and, therefore, carrying amount approximates fair value.
Contingent Liability Reserve Estimate, Policy [Policy Text Block]	*Contingent Consideration* Under the terms of the CommAgility Share Purchase Agreement the Company may be required to pay additional purchase price if certain financial targets are achieved for the years ending December 31, 2017 and December 31, 2018 (“CommAgility Earn-Out”). The financial targets for 2017 were not achieved therefore there was no earn-out payment made in the three months ended March 31, 2018. As of December 31, 2017, the Company estimated the fair value of the contingent consideration remaining to be paid based on the 2018 financial results to be $630. The Company is required to reassess the fair value of the contingent consideration at each reporting period. The significant inputs used in this fair value estimate include gross revenues and Adjusted EBITDA, as defined, scenarios for the earn-out periods for which probabilities are assigned to each scenario to arrive at a single estimated outcome. The estimated outcome is then discounted based on individual risk analysis of the liability. Although the Company believes its estimates and assumptions are reasonable, different assumptions, including those regarding the operating results of CommAgility or changes in the future, may result in different estimated amounts. As of March 31, 2018, the Company’s contingent consideration liability has been estimated at $678 and is recorded in other current liabilities in the accompanying condensed consolidated balance sheet. The Company will satisfy this obligation with a cash payment to the sellers of CommAgility upon the achievement of the financial targets for 2018. The contingent consideration liability is considered a Level 3 fair value measurement.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Management has evaluated subsequent events and determined that there were no subsequent events or transactions requiring recognition or disclosure in the consolidated financial statements through the date the financial statements were issued.

XML 32 R21.htm IDEA: XBRL DOCUMENT

RECENT ACCOUNTING PRONOUNCEMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

	Three Months Ended March 31, 2018
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME	As Reported (in Accordance with ASC Topic 606)		Balances Without Adoption of ASC Topic 606		Impact of Adoption Higher/(Lower)
Net sales	$	13,264	$	12,958	$	306
Operating income		430		124		306
Net income		374		68		306

	As of March 31, 2018
CONDENSED CONSOLIDATED BALANCE SHEET	As Reported (in Accordance with ASC Topic 606)		Balances Without Adoption of ASC Topic 606		Impact of Adoption Higher/(Lower)
CURRENT ASSETS
Prepaid expenses and other current assets	$	1,725	$	1,241	$	484
CURRENT LIABILITIES
Deferred revenue		808		1,068		(260	)
SHAREHOLDERS’ EQUITY
Retained earnings		7,971		7,665		306

XML 33 R22.htm IDEA: XBRL DOCUMENT

REVENUE (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

	Three Months Ended March 31, 2018
Total Net Revenues by Revenue Type	Network Solutions		Test and Measurement		Embedded Solutions		Total
RF Solutions	$	5,511	$	-	$	-	$	5,511
Noise Generators and Components		-		1,499		-		1,499
Power Meters and Analyzers		-		1,980		-		1,980
Signal Processing Hardware		-		-		2,906		2,906
Software Licenses		-		-		483		483
Services		-		284		601		885
Total Net Revenue	$	5,511	$	3,763	$	3,990	$	13,264

Total Net Revenues By Geographic Areas	Network Solutions		Test and Measurement		Embedded Solutions		Total
Americas	$	4,159	$	2,515	$	1,423	$	8,097
EMEA		941		449		2,370		3,760
APAC		411		799		197		1,407
Total Net Revenue	$	5,511	$	3,763	$	3,990	$	13,264

	Three Months Ended March 31, 2017
Total Net Revenues By Revenue Type		Network Solutions		Test and Measurement		Embedded Solutions		Total
RF Solutions		$	5,515	$	-	$	-	$	5,515
Noise Generators and Components			-		1,217		-		1,217
Power Meters and Analyzers			-		1,536		-		1,536
Signal Processing Hardware			-		-		382		382
Software Licenses			-		-		85		85
Services			-		284		530		814
Total Net Revenue		$	5,515	$	3,037	$	997	$	9,549

Total Net Revenues by Geographic Areas	Network Solutions		Test and Measurement		Embedded Solutions		Total
Americas		4,710		1,690		565		6,965
EMEA		572		554		397		1,523
APAC		233		793		35		1,061
Total Net Revenue		5,515		3,037		997		9,549

XML 34 R23.htm IDEA: XBRL DOCUMENT

ACQUISITION OF COMMAGILITY (Tables)

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of Business Acquisitions by Acquisition Contingent Consideration and Deferred Purchase Price [Table Text Block]

The following table summarizes the activity related to contingent consideration and deferred purchase price for the three months ended March 31, 2018:

	Contingent Consideration		Deferred Purchase Price
Balance at December 31, 2017	$	630	$	1,230
Accretion of Interest		24		-
Payment		-		(811	)
Foreign Currency Translation		24		48
Balance as of March 31, 2018	$	678	$	467

XML 35 R24.htm IDEA: XBRL DOCUMENT

INCOME (LOSS) PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares [Table Text Block]

	For the Three Months Ended March 31,
	2018		2017

Weighted average common shares outstanding		20,644		20,386
Potentially dilutive stock options		989		780

Weighted average common shares outstanding, assuming dilution		21,633		21,166

XML 36 R25.htm IDEA: XBRL DOCUMENT

INVENTORIES (Tables)

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of:

	March 31, 2018		December 31, 2017
Raw materials	$	3,678	$	3,231
Work-in-process		592		631
Finished goods		2,783		2,664
	$	7,053	$	6,526

XML 37 R26.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Goodwill consists of the following:

	March 31, 2018
Beginning Balance	$	10,260
Foreign Currency Translation		338
Ending Balance	$	10,598

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]

Intangible assets consist of the following:

	March 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Foreign Exchange Translation		Net Carrying Amount
Customer Relationships	$	2,766	$	(646	)	$	268	$	2,388
Patents		615		(143	)		59		531
Non Compete Agreements		1,107		(436	)		100		771
Tradename		629		-			72		701
Total	$	5,117	$	(1,225	)	$	499	$	4,391

	December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Foreign Exchange Translation		Net Carrying Amount
Customer Relationships	$	2,766	$	(494	)	$	178	$	2,450
Patents		615		(109	)		39		545
Non Compete Agreements		1,107		(334	)		69		842
Tradename		629		-			45		674
Total	$	5,117	$	(937	)	$	331	$	4,511

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The estimated future amortization expense related to intangible assets is as follows as of March 31, 2018:

Remainder 2018	$	873
2019		1,165
2020		805
2021		754
2022		94
Total	$	3,691

XML 38 R27.htm IDEA: XBRL DOCUMENT

DEBT (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt consists of the following:

	March 31, 2018
Revolver at LIBOR Plus Margin	$	2,595
Term Loan at LIBOR Plus Margin		608
Total Debt		3,203
Debt Maturing within one year		(2,747)
Non-current portion of long term debt	$	456

XML 39 R28.htm IDEA: XBRL DOCUMENT

ACCOUNTING FOR SHARE BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2018

ACCOUNTING FOR SHARE BASED COMPENSATION (Tables) [Line Items]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following summarizes the components of share-based compensation expense by equity type for the respective periods:

	Three Months Ended March 31
	2018		2017
Service-based Restricted Common Stock	$	63	$	57
Performance-based Restricted Common Stock		-		5
Performance-based Stock Options		12		59
Service-based Stock Options		113		180
	$	188	$	301

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	Shares		Weighted Average Grant Date Fair Value
Non-vested as of December 31, 2017		159		$1.64
Granted		-		-
Vested and Issued		-		$1.34
Forfeited		-		-
Non-vested as of March 31, 2018		159		$1.64

Performance Shares [Member]

ACCOUNTING FOR SHARE BASED COMPENSATION (Tables) [Line Items]

Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of performance-based stock option activity, and related information for the three months ended March 31, 2018 follows:

	Shares			Weighted Average Option Exercise Price per Share
Outstanding as of December 31, 2017		605			$1.21
Granted		-			-
Exercised		(300	)		$0.96
Forfeited		-			-
Expired		-			-
Outstanding as of March 31, 2018		305			$1.45

Exercisable at March 31, 2018		20			$0.78

Service Based Stock Options [Member]

ACCOUNTING FOR SHARE BASED COMPENSATION (Tables) [Line Items]

Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of service-based stock option activity and related information for the three months ended March 31, 2018 follows:

	Shares		Weighted Average Option Exercise Price per Share
Outstanding as of December 31, 2017		1,815		$1.53
Granted		-		-
Exercised		-		-
Forfeited		-		-
Expired		-		-
Outstanding as of March 31, 2018		1,815		$1.53

Exercisable at March 31, 2018		658		$1.42

XML 40 R29.htm IDEA: XBRL DOCUMENT

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Schedule Of Segment Reporting Financial Information Including Total Assets By Segment [Table Text Block]

Financial information by reportable segment for the respective periods is set forth below:

	For the three months ended March 31,
	2018			2017
Net sales by segment:
Network Solutions	$	5,511		$	5,515
Test and Measurement		3,763			3,037
Embedded Solutions		3,990			997
Total consolidated net sales of reportable segments	$	13,264		$	9,549

Segment income (loss):
Network Solutions	$	813		$	908
Test and Measurement		510			25
Embedded Solutions		611			(229	)
Income (loss) from reportable segments		1,934			704

Other unallocated amounts:
Corporate expenses		(1,413	)		(2,422	)
Other (expenses) income - net		(91	)		(51	)
Consolidated income/(loss) before Income tax provision/(benefit)	$	430		$	(1,769	)

Depreciation and amortization by segment:
Network Solutions	$	136		$	102
Test and Measurement		175			93
Embedded Solutions		315			219
Total depreciation and amortization for reportable segments	$	626		$	414

Capital expenditures by segment:
Network Solutions	$	78		$	84
Test and Measurement		102			66
Embedded Solutions		19			42
Total consolidated capital expenditures by reportable segment	$	199		$	192

Schedule Of Segment Reporting Information Total Assets By Segment [Table Text Block]

	March 31,		December 31,
	2018		2017
Total assets by segment:
Network Solutions	$	11,046	$	10,442
Test and Measurement		6,559		6,163
Embedded Solutions		19,628		21,733
Total assets for reportable segments		37,233		38,338

Corporate assets, principally cash and cash equivalents and deferred income taxes		8,890		8,583
Total consolidated assets	$	46,123	$	46,921

Revenue from External Customers by Geographic Areas [Table Text Block]

Consolidated net sales by region were as follows:

	Three Months Ended March 31
	2018		2017
Sales by region
Americas	$	8,097	$	6,965
Europe, Middle East, Africa (EMEA)		3,760		1,523
Asia Pacific (APAC)		1,407		1,061
Total sales	$	13,264	$	9,549

XML 41 R30.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018 USD ($)	Mar. 31, 2017	Dec. 31, 2017 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES (Details) [Line Items]
Number of Significant Customer Respect to Accounts Receivable	1		2
Percentage Of Accounts Receivable Attributable To Significant Customer	10.00%		10.00%
Earn Out Payment (in Dollars)	$ 0
Business combination contingent consideration fair value (in Dollars)			$ 630
Customer One [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES (Details) [Line Items]
Number of significant customer respect to revenue	1	1
Concentration Risk, Percentage	16.00%	11.00%
Percentage Of Accounts Receivable Attributable To Significant Customer	23.00%		18.00%
Customer Two [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES (Details) [Line Items]
Percentage Of Accounts Receivable Attributable To Significant Customer			11.00%
Other Current Liabilities [Member] \| CommAgility [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES AND POLICIES (Details) [Line Items]
Business Combination, Contingent Consideration, Liability (in Dollars)	$ 678

XML 42 R31.htm IDEA: XBRL DOCUMENT

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
RECENT ACCOUNTING PRONOUNCEMENTS (Details) [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ 421
Maximum [Member]
RECENT ACCOUNTING PRONOUNCEMENTS (Details) [Line Items]
Revenue Recognition Multiple Deliverable Arrangements, Percentage of Consolidated revenues		2.00%
Retained Earnings [Member]
RECENT ACCOUNTING PRONOUNCEMENTS (Details) [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	421
Deferred Revenue [Member] \| Accounting Standards Update 2014-09 [Member]
RECENT ACCOUNTING PRONOUNCEMENTS (Details) [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	(258)
Prepaid Expenses and Other Current Assets [Member] \| Accounting Standards Update 2014-09 [Member]
RECENT ACCOUNTING PRONOUNCEMENTS (Details) [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	163
Accounts Receivable [Member] \| Accounting Standards Update 2014-09 [Member]
RECENT ACCOUNTING PRONOUNCEMENTS (Details) [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 199

XML 43 R32.htm IDEA: XBRL DOCUMENT

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - Condensed Consolidated Financial Statements - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ 13,264	$ 9,549
Operating income	430	(1,769)
Net income	374	$ (1,231)
CURRENT ASSETS
Prepaid expenses and other current assets	1,725
CURRENT LIABILITIES
Deferred revenue	808		$ 629
SHAREHOLDERS’ EQUITY
Retained earnings	7,971		7,176
Accounting Standards Update 2014-09 [Member]
CURRENT LIABILITIES
Deferred revenue	808		$ 371
Calculated under Revenue Guidance in Effect before Topic 606 [Member] \| Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	12,958
Operating income	124
Net income	68
CURRENT ASSETS
Prepaid expenses and other current assets	1,241
CURRENT LIABILITIES
Deferred revenue	1,068
SHAREHOLDERS’ EQUITY
Retained earnings	7,665
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] \| Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	306
Operating income	306
Net income	306
CURRENT ASSETS
Prepaid expenses and other current assets	484
CURRENT LIABILITIES
Deferred revenue	(260)
SHAREHOLDERS’ EQUITY
Retained earnings	$ 306

XML 44 R33.htm IDEA: XBRL DOCUMENT

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
REVENUE (Details) [Line Items]
Prepaid Expense and Other Assets, Current	$ 1,725	$ 4,733
Deferred Revenue, Current	808	629
Deferred Revenue, Revenue Recognized	$ 163
Sales Revenue, Goods, Net [Member]
REVENUE (Details) [Line Items]
Revenue Performance Obligation, Percentage	94.00%
Accounting Standards Update 2014-09 [Member]
REVENUE (Details) [Line Items]
Deferred Revenue, Current	$ 808	371
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] \| Accounting Standards Update 2014-09 [Member]
REVENUE (Details) [Line Items]
Prepaid Expense and Other Assets, Current	484	$ 162
Deferred Revenue, Current	$ (260)

XML 45 R34.htm IDEA: XBRL DOCUMENT

REVENUE (Details) - Schedule of Disaggregated Revenue - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 13,264	$ 9,549
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues	8,097	6,965
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues	3,760	1,523
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,407	1,061
Network Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	5,511	5,515
Network Solutions [Member] \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues	4,159	4,710
Network Solutions [Member] \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues	941	572
Network Solutions [Member] \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues	411	233
Test and Measurement [Member]
Disaggregation of Revenue [Line Items]
Revenues	3,763	3,037
Test and Measurement [Member] \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,515	1,690
Test and Measurement [Member] \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues	449	554
Test and Measurement [Member] \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues	799	793
Embedded Solution [Member]
Disaggregation of Revenue [Line Items]
Revenues	3,990	997
Embedded Solution [Member] \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,423	565
Embedded Solution [Member] \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,370	397
Embedded Solution [Member] \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues	197	35
RF Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	5,511	5,515
RF Solutions [Member] \| Network Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	5,511	5,515
Noise Generators and Components [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,499	1,217
Noise Generators and Components [Member] \| Test and Measurement [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,499	1,217
Power Meters and Analyzers [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,980	1,536
Power Meters and Analyzers [Member] \| Test and Measurement [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,980	1,536
Signal Processing Hardware [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,906	382
Signal Processing Hardware [Member] \| Embedded Solution [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,906	382
Software Licenses [Member]
Disaggregation of Revenue [Line Items]
Revenues	483	85
Software Licenses [Member] \| Embedded Solution [Member]
Disaggregation of Revenue [Line Items]
Revenues	483	85
Services [Member]
Disaggregation of Revenue [Line Items]
Revenues	885	814
Services [Member] \| Test and Measurement [Member]
Disaggregation of Revenue [Line Items]
Revenues	284	284
Services [Member] \| Embedded Solution [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 601	$ 530

XML 46 R35.htm IDEA: XBRL DOCUMENT

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - CommAgility [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) [Line Items]
Business Combination, Contingent Consideration, Asset	$ 3,599	$ 3,599
Restatement Adjustment [Member]
PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) [Line Items]
Business Combination Contingent Consideration Asset Adjustments	$ (3,599)

XML 47 R36.htm IDEA: XBRL DOCUMENT

ACQUISITION OF COMMAGILITY (Details) £ in Thousands, shares in Thousands, $ in Thousands	1 Months Ended		3 Months Ended
	Feb. 17, 2017 USD ($) shares	Feb. 17, 2017 GBP (£) shares	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)	Feb. 17, 2017 GBP (£)
ACQUISITION OF COMMAGILITY (Details) [Line Items]
Business Acquisition, Date of Acquisition Agreement			Feb. 17, 2017
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (in Pounds)			$ 430	$ (1,769)
CommAgility [Member]
ACQUISITION OF COMMAGILITY (Details) [Line Items]
Payments to Acquire Businesses, Gross	$ 11,318
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) \| shares	3,488	3,488
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 6,000
Business Combination Deferred Purchase Price Payable	2,500
Business Combination Working Capital Additional Purchase Price Adjustment	$ 1,400
Business Combination Contingent Milestone Payment (in Pounds) \| £						£ 10,000
Business Acquisition Equity Interests Issued or Issuable Number of Shares Forfeited (in Shares) \| shares	2,093	2,093
Business Acquisition Equity Interests Issued or Issuable Number of Shares Forfeited Condition	(a) 2017 Adjusted EBITDA,as defined, generated by CommAgility is less than £2,400; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgilityis less than £2,400 (in each case as determined by an audit of CommAgility conducted by the accountants of the AcquisitionSubsidiary in accordance with the terms of the Share Purchase Agreement).	(a) 2017 Adjusted EBITDA,as defined, generated by CommAgility is less than £2,400; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgilityis less than £2,400 (in each case as determined by an audit of CommAgility conducted by the accountants of the AcquisitionSubsidiary in accordance with the terms of the Share Purchase Agreement).
Business Combination, Contingent Consideration, Asset			$ 3,599		$ 3,599
Maximum [Member] \| Two Thousand Seventeen Adjusted EBITDA [Member] \| CommAgility [Member]
ACQUISITION OF COMMAGILITY (Details) [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (in Pounds) \| £		£ 2,400
Maximum [Member] \| Two Thousand Eighteen Adjusted EBITDA [Member] \| CommAgility [Member]
ACQUISITION OF COMMAGILITY (Details) [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (in Pounds) \| £		£ 2,400

XML 48 R37.htm IDEA: XBRL DOCUMENT

ACQUISITION OF COMMAGILITY (Details) - Schedule of activity related to contingent consideration and deferred purchase price - CommAgility [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
ACQUISITION OF COMMAGILITY (Details) - Schedule of activity related to contingent consideration and deferred purchase price [Line Items]
Balance, Contingent Consideration	$ 630
Balance, Deferred Purchase Price	1,230
Accretion of Interest, Contingent Consideration	24
Payment, Deferred Purchase Price	(811)
Foreign Currency Translation, Contingent Consideration	24
Foreign Currency Translation, Deferred Purchase Price	48
Balance, Contingent Consideration	678
Balance, Deferred Purchase Price	$ 467

XML 49 R38.htm IDEA: XBRL DOCUMENT

INCOME TAXES (Details)	3 Months Ended
INCOME TAXES (Details)	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	13.00%

XML 50 R39.htm IDEA: XBRL DOCUMENT

INCOME (LOSS) PER COMMON SHARE (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	1,413

XML 51 R40.htm IDEA: XBRL DOCUMENT

INCOME (LOSS) PER COMMON SHARE (Details) - Schedule of weighted average number of shares - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
INCOME (LOSS) PER COMMON SHARE (Details) - Schedule of weighted average number of shares [Line Items]
Weighted average common shares outstanding	20,644,409	20,386,678
Weighted average common shares outstanding, assuming dilution	21,633,117	20,386,678
Weighted Average Common Share Oustanding Calculation [Member]
INCOME (LOSS) PER COMMON SHARE (Details) - Schedule of weighted average number of shares [Line Items]
Weighted average common shares outstanding	20,644,000	20,386,000
Potentially dilutive stock options	989,000	780,000
Weighted average common shares outstanding, assuming dilution	21,633,000	21,166,000

XML 52 R41.htm IDEA: XBRL DOCUMENT

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Inventory Valuation Reserves	$ 1,732	$ 1,856

XML 53 R42.htm IDEA: XBRL DOCUMENT

INVENTORIES (Details) - Schedule of inventory, Current - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of inventory, Current [Abstract]
Raw materials	$ 3,678	$ 3,231
Work-in-process	592	631
Finished goods	2,783	2,664
	$ 7,053	$ 6,526

XML 54 R43.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Details) $ in Thousands	3 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Details) $ in Thousands	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)
GOODWILL AND INTANGIBLE ASSETS (Details) [Line Items]
Goodwill	$ 10,598		$ 10,260
Number of Reporting Units	2
Amortization of Intangible Assets	$ 287	$ 200
Microlab [Member]
GOODWILL AND INTANGIBLE ASSETS (Details) [Line Items]
Goodwill	1,351
Embedded Solution [Member]
GOODWILL AND INTANGIBLE ASSETS (Details) [Line Items]
Goodwill	$ 9,247

XML 55 R44.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Details) - Schedule of goodwill $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Schedule of goodwill [Abstract]
Beginning Balance	$ 10,260
Foreign Currency Translation	338
Ending Balance	$ 10,598

XML 56 R45.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Details) - Schedule of intangible assets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 5,117	$ 5,117
Accumulated Amortization	(1,225)	(937)
Foreign Exchange Translation	499	331
Net Carrying Amount	4,391	4,511
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,766	2,766
Accumulated Amortization	(646)	(494)
Foreign Exchange Translation	268	178
Net Carrying Amount	2,388	2,450
Patents [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	615	615
Accumulated Amortization	(143)	(109)
Foreign Exchange Translation	59	39
Net Carrying Amount	531	545
Noncompete Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,107	1,107
Accumulated Amortization	(436)	(334)
Foreign Exchange Translation	100	69
Net Carrying Amount	771	842
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	629	629
Foreign Exchange Translation	72	45
Net Carrying Amount	$ 701	$ 674

XML 57 R46.htm IDEA: XBRL DOCUMENT

GOODWILL AND INTANGIBLE ASSETS (Details) - Schedule of estimated future amortization expense $ in Thousands	Mar. 31, 2018 USD ($)
Schedule of estimated future amortization expense [Abstract]
Remainder 2018	$ 873
2019	1,165
2020	805
2021	754
2022	94
Total	$ 3,691

XML 58 R47.htm IDEA: XBRL DOCUMENT

DEBT (Details) - USD ($) $ in Thousands			3 Months Ended
DEBT (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Mar. 31, 2018	Dec. 31, 2017	Feb. 16, 2017
DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate			85.00%
Payment of Legal Fees (in Dollars)			$ 215
Debt Instrument, Covenant Description			If the Company’s Fixed Charge Coverage Ratio is greater than or equal to 1.25 to 1.00,a margin of 3.25% and 2.75%, respectively, is added to LIBOR rate with a step up to 3.50% and 3.00%, respectively, if the ratiois greater than or equal to 1.00 to 1.00 but less than 1.25 to 1.00 and another step up to 3.75% and 3.25%, respectively, if the ratiois less than 1.00 to 1.00.
Line of Credit Facility, Collateral			The New Credit Facility is securedby liens on substantially all of the Company’s and its domestic subsidiaries’ assets including a pledge of 66.66%of the equity interests in the Company’s Foreign Subsidiaries (as defined in the New Credit Facility).
Inventory Adjustments (in Dollars)	$ 1,930
Foreign Subsidiary Holding Pledged For New Credit Facility Percentage	66.33%	66.66%
Term Loan [Member]
DEBT (Details) [Line Items]
Debt Instrument, Face Amount (in Dollars)					$ 760
Debt Instrument, Basis Spread on Variable Rate			3.50%
Debt Instrument, Periodic Payment (in Dollars)			$ 38
Debt Instrument, Date of First Required Payment			Apr. 01, 2017
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year (in Dollars)			$ 114
Long-term Debt, Maturities, Repayments of Principal in Year Two (in Dollars)			$ 494
Debt Instrument, Maturity Date			Nov. 16, 2019
Debt Instrument, Interest Rate, Effective Percentage			5.25%	4.88%
Revolving Loan [Member]
DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)					$ 9,000
Debt Instrument, Basis Spread on Variable Rate			3.00%
Debt Instrument, Maturity Date			Nov. 16, 2019
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.50%
Debt Instrument, Interest Rate, Effective Percentage			4.75%	4.38%
Penalty for Earlier Contractual Termination In One Year [Member]
DEBT (Details) [Line Items]
Line of Credit Facility Early Termination Fee Percentage			2.00%
Penalty for Earlier Contractual Termination in Year Two [Member]
DEBT (Details) [Line Items]
Line of Credit Facility Early Termination Fee Percentage			1.00%
Coverage Ratio Greater Than 1.25 to 1.00 [Member] \| Term Loan [Member]
DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.25%
Coverage Ratio Greater Than 1.25 to 1.00 [Member] \| Revolving Loan [Member]
DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.75%
Coverage Ratio Greater Than 1.00 to 1.00 Less Than 1.25 to 1.00 [Member] \| Term Loan [Member]
DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.50%
Coverage Ratio Greater Than 1.00 to 1.00 Less Than 1.25 to 1.00 [Member] \| Revolving Loan [Member]
DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.00%
Coverage Ratio Less Than 1.00 to 1.00 [Member] \| Term Loan [Member]
DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.75%
Coverage Ratio Less Than 1.00 to 1.00 [Member] \| Revolving Loan [Member]
DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.25%

XML 59 R48.htm IDEA: XBRL DOCUMENT

DEBT (Details) - Schedule of Debt - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
DEBT (Details) - Schedule of Debt [Line Items]
Total Debt	$ 3,203
Debt Maturing within one year	(2,747)
Non-current portion of long term debt	456	$ 494
Revolving Loan [Member]
DEBT (Details) - Schedule of Debt [Line Items]
Total Debt	2,595
Term Loan [Member]
DEBT (Details) - Schedule of Debt [Line Items]
Total Debt	$ 608

XML 60 R49.htm IDEA: XBRL DOCUMENT

ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2014
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) [Line Items]
Share-based Compensation	$ 188	$ 301
Share Based Compensation Arrangement By Share Based Payment Award Additional Number of Share Available for Grant (in Shares)						1,658
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares)	2,500
Service Based Stock Options [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share Based Compensation Arrangement by Share Based Payment Award Maximum Period Consider for Option Fully Exercisable	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 1,660
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 675
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	8 years 73 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term	8 years 219 days
Performance Shares [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 303
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 146 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 33
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 255 days
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercised Aggregate Intrinsic Value	$ 444
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)			285	20
Employee Stock Option [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 444
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 219 days
Restricted Stock [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	219 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 37
Incentive Compensation Plan 2012 [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) [Line Items]
Stock Issued					$ 2,000

XML 61 R50.htm IDEA: XBRL DOCUMENT

ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of share-based compensation expense, components by equity - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of share-based compensation expense, components by equity [Line Items]
Share Based Compensation	$ 188	$ 301
Restricted Stock [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of share-based compensation expense, components by equity [Line Items]
Share Based Compensation	63	57
Performance Based Restricted Common Stock [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of share-based compensation expense, components by equity [Line Items]
Share Based Compensation		5
Performance Shares [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of share-based compensation expense, components by equity [Line Items]
Share Based Compensation	12	59
Service Based Stock Options [Member]
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of share-based compensation expense, components by equity [Line Items]
Share Based Compensation	$ 113	$ 180

XML 62 R51.htm IDEA: XBRL DOCUMENT

ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of non-vested restricted stock activity - Restricted Stock [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2018 $ / shares shares
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of non-vested restricted stock activity [Line Items]
Non-vested as of December 31, 2017 (in Shares) \| shares	159
Non-vested as of December 31, 2017	$ 1.64
Vested and Issued	$ 1.34
Non-vested as of March 31, 2018 (in Shares) \| shares	159
Non-vested as of March 31, 2018	$ 1.64

XML 63 R52.htm IDEA: XBRL DOCUMENT

ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of performance-based stock option activity, and related Information - Performance Shares [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2018 $ / shares shares
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of performance-based stock option activity, and related Information [Line Items]
Outstanding as of December 31, 2017 \| shares	605
Outstanding as of December 31, 2017 \| $ / shares	$ 1.21
Exercised \| shares	(300)
Exercised \| $ / shares	$ 0.96
Outstanding as of March 31, 2018 \| shares	305
Outstanding as of March 31, 2018 \| $ / shares	$ 1.45
Exercisable at March 31, 2018 \| shares	20
Exercisable at March 31, 2018 \| $ / shares	$ 0.78

XML 64 R53.htm IDEA: XBRL DOCUMENT

ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of service-based stock option activity, and related Information - Service Based Stock Options [Member] shares in Thousands	Mar. 31, 2018 $ / shares shares
ACCOUNTING FOR SHARE BASED COMPENSATION (Details) - Schedule of service-based stock option activity, and related Information [Line Items]
Outstanding as of December 31, 2017 \| shares	1,815
Outstanding as of December 31, 2017 \| $ / shares	$ 1.53
Outstanding as of March 31, 2018 \| shares	1,815
Outstanding as of March 31, 2018 \| $ / shares	$ 1.53
Exercisable at March 31, 2018 \| shares	658
Exercisable at March 31, 2018 \| $ / shares	$ 1.42

XML 65 R54.htm IDEA: XBRL DOCUMENT

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)
SEGMENT INFORMATION (Details) [Line Items]
Number of Reportable Segments	3
Revenues	$ 13,264	$ 9,549
UNITED STATES
SEGMENT INFORMATION (Details) [Line Items]
Revenues	7,946	6,465
UNITED KINGDOM
SEGMENT INFORMATION (Details) [Line Items]
Revenues	2,261	596
LUXEMBOURG
SEGMENT INFORMATION (Details) [Line Items]
Revenues	313
GERMANY
SEGMENT INFORMATION (Details) [Line Items]
Revenues		212
CHINA
SEGMENT INFORMATION (Details) [Line Items]
Revenues	$ 956	$ 650

XML 66 R55.htm IDEA: XBRL DOCUMENT

SEGMENT INFORMATION (Details) - Schedule of segment reporting financial information including total assets by segment - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales by segment:
Net sales by segment	$ 13,264	$ 9,549
Segment income (loss):
Segment income (loss)	1,934	704
Other unallocated amounts:
Corporate expenses	(1,413)	(2,422)
Other (expenses) income - net	(91)	(51)
Consolidated income/(loss) before Income tax provision/(benefit)	430	(1,769)
Depreciation and amortization by segment:
Depreciation and amortization by segment	626	414
Capital expenditures by segment:
Capital expenditures by segment	199	192
Network Solutions [Member]
Net sales by segment:
Net sales by segment	5,511	5,515
Segment income (loss):
Segment income (loss)	813	908
Depreciation and amortization by segment:
Depreciation and amortization by segment	136	102
Capital expenditures by segment:
Capital expenditures by segment	78	84
Test and Measurement [Member]
Net sales by segment:
Net sales by segment	3,763	3,037
Segment income (loss):
Segment income (loss)	510	25
Depreciation and amortization by segment:
Depreciation and amortization by segment	175	93
Capital expenditures by segment:
Capital expenditures by segment	102	66
Embedded Solution [Member]
Net sales by segment:
Net sales by segment	3,990	997
Segment income (loss):
Segment income (loss)	611	(229)
Depreciation and amortization by segment:
Depreciation and amortization by segment	315	219
Capital expenditures by segment:
Capital expenditures by segment	$ 19	$ 42

XML 67 R56.htm IDEA: XBRL DOCUMENT

SEGMENT INFORMATION (Details) - Schedule of segment reporting information total assets by segment - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Total assets by segment:
Total assets by segments	$ 37,233	$ 38,338
Corporate assets, principally cash and cash equivalents and deferred income taxes	8,890	8,583
Total consolidated assets	46,123	46,921
Network Solutions [Member]
Total assets by segment:
Total assets by segments	11,046	10,442
Test and Measurement [Member]
Total assets by segment:
Total assets by segments	6,559	6,163
Embedded Solution [Member]
Total assets by segment:
Total assets by segments	$ 19,628	$ 21,733

XML 68 R57.htm IDEA: XBRL DOCUMENT

SEGMENT INFORMATION (Details) - Schedule of net consolidated sales by region - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
SEGMENT INFORMATION (Details) - Schedule of net consolidated sales by region [Line Items]
Sales	$ 13,264	$ 9,549
Americas [Member]
SEGMENT INFORMATION (Details) - Schedule of net consolidated sales by region [Line Items]
Sales	8,097	6,965
EMEA [Member]
SEGMENT INFORMATION (Details) - Schedule of net consolidated sales by region [Line Items]
Sales	3,760	1,523
Asia Pacific [Member]
SEGMENT INFORMATION (Details) - Schedule of net consolidated sales by region [Line Items]
Sales	$ 1,407	$ 1,061

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