0000930413-19-001594.txt : 20190508 0000930413-19-001594.hdr.sgml : 20190508 20190508060212 ACCESSION NUMBER: 0000930413-19-001594 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 62 CONFORMED PERIOD OF REPORT: 20190331 FILED AS OF DATE: 20190508 DATE AS OF CHANGE: 20190508 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: 19804993 BUSINESS ADDRESS: STREET 1: 25 EASTMANS ROAD CITY: PARSIPPANY STATE: NJ ZIP: 07054 BUSINESS PHONE: 973-386-9696 MAIL ADDRESS: STREET 1: 25 EASTMANS ROAD CITY: PARSIPPANY STATE: NJ ZIP: 07054 FORMER COMPANY: FORMER CONFORMED NAME: NOISE COM INC/NJ DATE OF NAME CHANGE: 19930328 10-Q 1 c93550_10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

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

For the quarterly period ended March 31, 2019

 

OR

 

o 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 Identification No.)
of incorporation or organization)    
     
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, every Interactive Data File required to be submitted 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 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

 

Title of each class Trading Symbol Name of each exchange on which registered
Common Stock WTT NYSE American

 

Number of shares of Common Stock outstanding as of April 22, 2019: 21,300,252

 

WIRELESS TELECOM GROUP, INC.

Form 10-Q

Table of Contents

 

PART I – FINANCIAL INFORMATION  
   
Item 1. Financial Statements (Unaudited) 3
   
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 19
   
Item 3. Quantitative and Qualitative Disclosures About Market Risk 22
   
Item 4. Controls and Procedures 22
   
PART II – OTHER INFORMATION  
   
Item 1. Legal Proceedings 23
   
Item 1A. Risk Factors 23
   
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23
   
Item 3. Defaults Upon Senior Securities 23
   
Item 4. Mine Safety Disclosures 23
   
Item 5. Other Information 23
   
Item 6. Exhibits 23
   
SIGNATURES 24
2

WIRELESS TELECOM GROUP, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except number of shares and par value)

 

PART I – FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

   March 31   December 31 
   2019   2018 
   (unaudited)     
CURRENT ASSETS          
Cash & Cash Equivalents  $2,457   $5,015 
Accounts Receivable - net of reserves of $62 and $44, respectively   12,129    8,638 
Inventories - net of reserves of $1,830 and $1,910, respectively   7,763    6,884 
Prepaid Expenses and Other Current Assets   1,017    1,689 
           
TOTAL CURRENT ASSETS   23,366    22,226 
           
PROPERTY PLANT AND EQUIPMENT - NET   2,517    2,578 
           
OTHER ASSETS          
Goodwill   9,950    9,778 
Acquired Intangible Assets, net   3,001    3,206 
Deferred Income Taxes   5,751    5,592 
Right Of Use Lease Asset   1,766    - 
Other Assets   738    787 
           
TOTAL OTHER ASSETS   21,206    19,363 
           
TOTAL ASSETS  $47,089   $44,167 
           
CURRENT LIABILITIES          
Short Term Debt  $4,051   $2,016 
Accounts Payable   5,215    3,252 
Short Term Lease Liability   423    - 
Accrued Expenses and Other Current Liabilities   2,967    6,083 
Deferred Revenue   207    103 
           
TOTAL CURRENT LIABILITIES   12,863    11,454 
           
LONG TERM LIABILITIES          
Long Term Lease Liability   1,350    - 
Other Long Term Liabilities   96    115 
Deferred Tax Liability   628    616 
           
TOTAL LONG TERM LIABILITIES   2,074    731 
           
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, 34,488,252 and 34,393,252 shares issued, 21,300,252 and 21,205,251 shares outstanding   345    344 
Additional Paid in Capital   48,687    48,479 
Retained Earnings   7,212    7,556 
Treasury Stock at Cost, 13,188,601 and 13,188,601 shares, respectively   (24,509)    (24,509) 
Accumulated Other Comprehensive Income   417    112 
           
TOTAL SHAREHOLDERS’ EQUITY   32,152    31,982 
           
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY  $47,089   $44,167 
           

See accompanying Notes to Consolidated Financial Statements.

3

WIRELESS TELECOM GROUP, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)

(UNAUDITED)

(In thousands, except per share amounts)

 

   For the Three Months  
   Ended March 31 
   2019   2018 
NET REVENUES  $13,032   $13,264 
           
COST OF REVENUES   7,305    6,996 
           
GROSS PROFIT   5,727    6,268 
           
Operating Expenses          
Research and Development   1,714    1,157 
Sales and Marketing   1,937    1,910 
General and Administrative   2,474    2,633 
           
Total Operating Expenses   6,125    5,700 
           
Operating Income/(Loss)   (398)    568 
           
Other Income/(Expense)   31    (46) 
Interest Expense   (115)    (92) 
           
Income/(Loss) before taxes   (482)    430 
           
Tax Provision/(Benefit)   (138)    56 
           
Net Income/(Loss)  $(344)   $374 
           
Other Comprehensive Income/(Loss):          
Foreign Currency Translation Adjustments   305    579 
           
Comprehensive Income/(Loss)  $(39)   $953 
           
Earnings/(Loss) Per Share:          
Basic  $(0.02)   $0.02 
Diluted  $(0.02)   $0.02 
           
Weighted Average Shares Outstanding:          
Basic   20,973    20,644 
Diluted   20,973    21,633 

 

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 Consolidated Financial Statements.

4

WIRELESS TELECOM GROUP, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(In thousands)

 

   For the Three Months 
   Ended March 31 
   2019   2018 
CASH FLOWS USED BY OPERATING ACTIVITIES          
Net Income/(Loss)  $(344)  $374 
Adjustments to reconcile net income/(loss) to net cash used by operating activities:          
Depreciation and Amortization   549    626 
Amortization of Debt Issuance Fees   16    19 
Share-based Compensation Expense   209    188 
Deferred Rent   (6)    5 
Deferred Income Taxes   (159)    37 
Provision for Doubtful Accounts   18    (1) 
Inventory Reserves   47    19 
Changes in Assets and Liabilities:          
Accounts Receivable   (3,456)    (1,574) 
Inventories   (916)    (524) 
Prepaid Expenses and Other Assets   792    (507) 
Accounts Payable   1,888    (255) 
Payment of Contingent Consideration   (772)    - 
Accrued Expenses and Other Liabilities   (1,235)    635 
           
Net Cash Used by Operating Activities   (3,369)    (958) 
           
CASH FLOWS USED BY INVESTING ACTIVITIES          
Capital Expenditures   (128)    (199) 
Acquisition of Business   (426)    (811) 
           
Net Cash Used by Investing Activities   (554)    (1,010) 
           
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES          
Revolver Borrowings   9,788    10,603 
Revolver Repayments   (7,715)    (9,191) 
Term Loan Repayments   (38)    (38) 
Payment of Contingent Consideration   (782)    - 
Proceeds from Exercise of Stock Options   -    288 
           
Net Cash Provided by Financing Activities   1,253    1,662 
           
Effect of Exchange Rate Changes on Cash and Cash Equivalents   112    88 
NET DECREASE IN CASH AND CASH EQUIVALENTS   (2,558)    (218) 
           
Cash and Cash Equivalents, at Beginning of Period   5,015    2,458 
           
CASH AND CASH EQUIVALENTS, AT END OF PERIOD  $2,457   $2,240 
           
SUPPLEMENTAL INFORMATION:          
Cash Paid During the Period for Interest  $41   $36 
Cash Paid During the Period for Income Taxes  $26   $9 

 

See accompanying Notes to Consolidated Financial Statements.

5

WIRELESS TELECOM GROUP, INC.

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY

(UNAUDITED)

(In thousands, except share amounts)

 

   Common
Stock Issued
   Common
Stock
Amount
   Additional Paid
In Capital
   Retained
Earnings
   Treasury
Stock
   Accumulated
Other
Comprehensive
Income/(Loss)
   Total
Shareholders’
Equity
 
Balances at December 31, 2017   33,868,252   $339   $47,494   $7,176   $(20,910)   $1,004   $35,103 
                                    
Adoption of Accounting Standard   -    -    -    345    -    -    345 
                                    
Adjusted Opening Equity   33,868,252   $339   $47,494   $7,521   $(20,910)   $1,004   $35,448 
                                    
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   $7,895   $(24,509)   $1,583   $33,278 
                                    
   Common
Stock Issued
   Common
Stock
Amount
   Additional Paid
In Capital
   Retained
Earnings
   Treasury
Stock
   Accumulated
Other
Comprehensive
Income/(Loss)
   Total
Shareholders’
Equity
 
Balances at December 31, 2018   34,393,252   $344   $48,479   $7,556   $(24,509)   $112   $31,982 
                                    
Net Income/(Loss)   -    -    -    (344)    -    -    (344) 
                                    
Issuance of Restricted Stock   95,000    1    (1)    -    -    -    - 
                                    
Share-based Compensation Expense   -    -    209    -    -    -    209 
                                    
Cumulative Translation Adjustment   -    -    -    -    -    305    305 
                                    
Balances at March 31, 2019   34,488,252   $345   $48,687   $7,212   $(24,509)   $417   $32,152 

 

See accompanying Notes to Consolidated Financial Statements.

6

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

NOTE 1 - Summary of Significant Accounting Principles and Policies

 

Basis of Presentation and Preparation

 

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”) splitters and 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 consolidated balance sheet as of March 31, 2019, the consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2019 and 2018, the consolidated statements of cash flows for the three months ended March 31, 2019 and 2018 and the consolidated statement of shareholders’ equity for the three months ended March 31, 2019 and 2018 have been prepared by the Company without audit. The 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 LLC (“Microlab”), Wireless Telecommunications Ltd. and CommAgility Limited (“CommAgility”). All intercompany transactions and balances have been eliminated in consolidation.

 

The Company presents its operations in three reportable segments: (1) Network Solutions, (2) Test and Measurement and (3) Embedded Solutions. The Network Solutions segment is comprised of the operations of Microlab. The Test and Measurement segment is comprised of the operations of Boonton and Noisecom. The Embedded Solutions segment is comprised of the operations of CommAgility.

 

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

 

The Company’s fiscal periods are based on the calendar year. Except as otherwise specified, references to “first quarter(s)” or “three months” indicate the Company’s fiscal periods ending March 31, 2019 and March 31, 2018, and references to “year-end” indicate the fiscal year ended December 31, 2018.

 

Consolidated Financial Statements

 

In the opinion of management, the accompanying 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 consolidated financial statements included in its annual report on Form 10-K for the year ended December 31, 2018. 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 months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year ending December 31, 2019.

 

Reclassification

 

Certain prior period amounts have been reclassified to conform with the current period presentation.

7

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

Concentration Risk

 

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The majority of the Company’s cash balance is held outside of the United States.

 

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, 2019 and 2018, one customer accounted for approximately 31% and 16% of the Company’s consolidated revenues, respectively. At March 31, 2019 and 2018, one customer accounted for 40% and 23% of consolidated gross accounts receivable, respectively.

 

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, and the notes thereto, through the date the financial statements were issued.

 

NOTE 2 – Accounting Pronouncements

 

Recently Adopted Accounting Standards

 

In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), which created 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 Company adopted the requirements of the new standard effective January 1, 2019 using the modified retrospective transition method, which applies the provisions of the standard at the effective date without adjustment to the comparative periods presented. The Company adopted the following practical expedients and elected the following accounting policies related to this standard:

 

·Carry forward of historical lease classifications and accounting treatment;
·Short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less; and
·The option to not separate lease and non-lease components for certain equipment lease categories such as office printers and copiers.

 

Adoption of this standard resulted in the recognition of operating lease right-of-use assets and corresponding lease liabilities of $1.9 million on the consolidated balance sheet as of January 1, 2019. The standard did not materially impact operating results or liquidity. Disclosures related to the amount, timing and uncertainty of cash flows arising from leases are included in Note 3.

 

On June 20, 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 is intended to reduce cost and complexity and to improve financial reporting for share-based payments issued to nonemployees. This ASU expands the scope of ASC Topic 718, Compensation - Stock Compensation, which currently only includes share-based payments issued to employees, to also include share-based payments issued to nonemployees for goods and services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. ASU 2018-07 supersedes ASC Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Company adopted this standard on January 1, 2019 and it did not have a material impact on our financial statements.

8

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

Except for the change in accounting policies for leases as a result of adopting Topic 842, there have been no other changes to our significant accounting policies as described in the 2018 Form 10-K that had a material impact on our consolidated financial statements and related notes.

 

Recent Accounting Pronouncements Not Yet Adopted

 

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). ASU 2016-13 changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured as amortized cost. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. The Company plans to adopt the standard effective January 1, 2020. We are currently in the process of evaluating the effects of this pronouncement on our consolidated financial statements.

 

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820). ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. We are currently in the process of evaluating the effects of this pronouncement on our consolidated financial statements.

 

NOTE 3 – Leases

 

The Company’s lease agreements consist of building leases for its operating locations and office equipment leases for printers and copiers with lease terms that range from less than 12 months to 8 years. At inception, the Company determines if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. The Company’s leases for office equipment such as printers and copiers contain lease and non-lease components (i.e. maintenance). The Company accounts for lease and non-lease components of office equipment as a single lease component.

 

All of the Company’s leases are operating leases and are presented as right of use lease asset, short term lease liability and long term lease liability on the consolidated balance sheet as of March 31, 2019. These assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company’s incremental borrowing rate. Short-term leases, which have an initial term of 12 months or less, are not recorded on the balance sheet.

 

Lease expense is recognized on a straight-line basis over the lease term and is included in cost of revenues and general and administrative expenses on the consolidated statement of operations and comprehensive income/(loss).

 

An initial right-of-use asset of $1.9 million was recognized as a non-cash asset addition with the adoption of the new lease accounting standard. Subsequent to adoption of the new standard there were no new right-of-use assets recognized during the first quarter of 2019. Cash paid for amounts included in the present value of operating lease liabilities was $0.1 million during the first quarter of 2019 and is included in operating cash flows.

 

Operating lease costs were $0.1 million during the first quarter of 2019. Right of use assets in the amount of $1.8 million are included in the consolidated balance sheet as of March 31, 2019.

 

The following table presents information about the amount and timing of cash flows arising from the Company’s operating leases as of March 31, 2019.

9

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

(in thousands)  March 31, 2019
Maturity of Lease Liabilities     
2019 (remaining)  $383 
2020   511 
2021   474 
2022   488 
2023   123 
Thereafter   - 
Total Undiscounted Operating Lease Payments   1,979 
      
Less:  imputed interest   (206) 
Present Value of Operating Lease Liabilities   1,773 
      
Other information     
Weighted-average remaining lease term for operating leases (in months)   47 
Weighted-average discount rate for operating leases   5.70% 

 

NOTE 4 – 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 99% and 95% of the Company’s total revenue for the three months ended March 31, 2019 and 2018, respectively.

 

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
10

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

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, judgment is required to determine the standalone selling price for each distinct performance obligation.

 

Certain of the Company shipments include a limited return right. In those cases 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 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 were immaterial as of March 31, 2019 and $0.3 million as of December 31, 2018. Deferred revenue is $0.2 million and $0.1 million as of March 31, 2019 and December 31, 2018, respectively.

 

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 (in thousands).

11

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

   Three Months Ended March 31, 2019 
     
   Network
Solutions
   Test and
Measurement
   Embedded
Solutions
   Total 
Total Net Revenues by Revenue Type                   
Passive RF Components  $5,758   $-   $-   $5,758 
Noise Generators and Components   -    1,446    -    1,446 
Power Meters and Analyzers   -    1,308    -    1,308 
Signal Processing Hardware   -    -    4,058    4,058 
Software Licenses   -    -    3    3 
Services   -    276    183    459 
Total Net Revenue  $5,758   $3,030   $4,244   $13,032 
                     
Total Net Revenues by Geographic Areas               
Americas  $5,203   $1,804   $175   $7,182 
EMEA   501    549    4,061    5,111 
APAC   54    677    8    739 
Total Net Revenue  $5,758   $3,030   $4,244   $13,032 
                     
    Three Months Ended March 31, 2018 
      
   Network
Solutions
   Test and
Measurement
   Embedded
Solutions
   Total 
Total Net Revenues by Revenue Type                   
Passive RF Components  $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               
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 

 

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 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 $11.3 million in cash on acquisition date and issued 3,487,528 shares of newly issued Company common stock (“Consideration Shares”) with an acquisition date fair value of $6.0 million. In addition to the acquisition date cash purchase price, the sellers were paid an additional $2.5 million in the form of deferred purchase price installments beginning in March 2017 through January 2019 and were paid an additional purchase price adjustment based on working capital and cash levels of $1.4 million. Lastly, the sellers earned $1.5 million in contingent consideration as a result of meeting certain financial targets for the year ended December 31, 2018. The contingent consideration was paid in March 2019. Approximately $0.7 million of the

12

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

contingent consideration payment is classified as cash used by operating activities in the consolidated statement of cash flows for the first quarter 2019 and approximately $0.8 million is classified as cash used for financing activities in the consolidated statement of cash flows for the first quarter 2019 in accordance with ASU 2016-15 Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). Under ASU 2016-15 the portion of the cash payment up to the acquisition date fair value of the contingent consideration liability (including measurement period adjustments) is classified as a financing outflow, and the amounts paid in excess of the acquisition date fair value of that liability will be classified as operating outflows.

 

Pursuant to the Share Purchase Agreement, 2,092,516 of the Consideration Shares were subject to forfeiture and return to the Company if (a) 2017 Adjusted EBITDA, as defined, generated by CommAgility was less than £2.4 million; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility was less than £2.4 million (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). In March 2018 all consideration shares which are valued at $3.6 million were forfeited as the 2017 EBITDA threshold was not achieved. The forfeited shares are recorded as treasury stock in the consolidated statement of shareholders’ equity as of March 31, 2019 and December 31, 2018.

 

The total purchase price for the CommAgility acquisition, including the final contingent consideration payment, is $14.6 million which is net of cash acquired. There are no further purchase price obligations under the Stock Purchase Agreement as of March 31, 2019.

 

NOTE 6 – Income Taxes

 

The Company records deferred taxes in accordance with 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.

 

As of March 31, 2019 the Company’s deferred tax asset of $5.1 million is net of a valuation allowance of $6.7 million which is associated with the Company’s foreign net operating loss carryforward from an inactive foreign entity, state net operating loss carryforward and a state research and development credit.

 

The effective rate of income tax benefit of 28.6% for the three months ended March 31, 2019 was higher than the statutory rates in the United States and United Kingdom primarily due to the impact of global intangible low-taxed income or “GILTI” related to our controlled foreign corporation offset by research and development deductions in the UK.

 

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 – Earnings (Loss) Per Share

 

Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated by dividing net 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, unvested restricted shares and the weighted-average number of restricted stock units outstanding for the period. Shares from stock options are included in the diluted earnings per share calculation only when options exercise prices are lower than the average market value of the common shares for the period presented. 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.

13

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

   For the Three Months 
   Ended March 31, 
   2019   2018 
         
Weighted average common shares outstanding   20,972,612    20,644,409 
           
Potentially dilutive equity awards   708,736    988,708 
           
Weighted average common shares outstanding, assuming dilution   21,681,348    21,633,117 

 

For the three months ended March 31, 2019 the weighted-average number of options to purchase common stock not included in diluted loss per share because the effects are anti-dilutive or the performance condition was not met was 405,000.

 

NOTE 8 – Inventories

 

Inventory carrying value is net of inventory reserves of $1.8 million and $1.9 million at March 31, 2019 and December 31, 2018, respectively.

 

Inventories consist of (in thousands):  March 31,   December 31, 
   2019   2018 
Raw materials  $3,998   $3,248 
Work-in-process   592    557 
Finished goods   3,173    3,079 
   $7,763   $6,884 

 

NOTE 9 – Debt

 

Debt consists of the following (in thousands):

 

   March 31, 2019 
Revolver at LIBOR Plus Margin  $3,595 
Term Loan at LIBOR Plus Margin   456 
Total Debt   4,051 
Debt maturing within one year   (4,051) 
Non-current portion of long term debt  $- 

 

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 “Credit Facility”), which provided for a term loan in the aggregate principal amount of $0.8 million (the “Term Loan”) and an asset based revolving loan (the “Revolver”), which is subject to a Borrowing Base Calculation (as defined in the Credit Facility), of up to a maximum availability of $9.0 million (“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 Credit Facility, the Company paid lender and legal fees of $0.2 million 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 which approximates the effective interest method.

14

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

The Company must repay the Term Loan in installments of $38,000 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 Term Loan and Revolver were both scheduled to mature on November 16, 2019. On February 26, 2019, the Company entered into Amendment No. 3 to the Credit Facility which extends the termination date of the Revolver from November 16, 2019 to March 31, 2020.

 

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 Credit Facility) as of the most recently ended fiscal quarter falling into one of 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 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 Credit Facility or (b) 1% of the Revolver Commitment Amount and Term Loan if termination occurs after the first anniversary of the Credit Facility but before the second anniversary of the Credit Facility. The Company’s interest rate plus margin as of March 31, 2019 on the Credit Facility was 5.25% and 5.75% for the Revolver and Term Loan, respectively. The Company’s interest rate plus margin as of December 31, 2018 on the Credit Facility was 5.38% and 5.88% for the Revolver and Term Loan, respectively.

 

The Credit Facility is secured by liens on substantially all of the Company’s and its domestic subsidiaries’ assets including a pledge of 66 1/3% of the equity interests in the Company’s Foreign Subsidiaries (as defined in the Credit Facility). The 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 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 in the Credit Facility) or occurrence of conditions that have a Material Adverse Effect (as defined in the Credit Facility).

 

As of March 31, 2019, and the date hereof, the Company is in compliance with the covenants of the Credit Facility.

 

NOTE 10 - Accounting for Stock Based Compensation

 

The Company’s results for the three month period ended March 31, 2019 includes $0.2 million related to stock based compensation expense. Such amounts have been included in the consolidated statement of operations and comprehensive income/(loss) within general and administrative expenses in 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, restricted stock units, 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 million 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 1.6 million 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, 2019, there are approximately 1.7 million shares available for issuance under the 2012 Plan.

15

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

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.

 

Restricted Common Stock Awards

 

On January 11, 2019 the Company granted 95,000 restricted stock awards to employees under the 2012 Plan. The awards vest in equal annual installments over a three year period or upon a change in control, as defined in the 2012 Plan, as long as the grantee continues to provide service to the Company until the applicable vesting date. The grant date fair value of the restricted stock awards was $1.56 per share.

 

Service-Based Stock Option Awards

 

On January 11, 2019 the Company granted 15,000 incentive stock options. The stock options vest in equal annual installments over a three year period or upon a change in control, as defined in the 2012 Plan, as long as the grantee continues to provide service to the Company until the applicable vesting date. The following table presents the assumptions used to estimate the fair value of the stock option award granted in the first quarter of 2019 under the Black Scholes model:

 

   Number of
Options
  Option
Term
(in years)
  Exercise
Price
  Risk Free
Interest
Rate
  Expected
Volatility
  Fair Value
at Grant
Date
  Expected
Dividend
Yield
January 11, 2019  15,000  3  $1.56  2.52%  49.80%  $0.56  $0.00

 

Outstanding Stock Options and Unvested Restricted Awards

 

As of March 31, 2019 there were 1,950,000 service based stock options outstanding and 305,000 performance based stock options outstanding. The range of exercise prices of outstanding stock options is $0.78 to $1.92. The number of potentially dilutive common shares from stock options (options with exercise prices that are lower than the average market value of common shares for the period presented) is 266,653 as of March 31, 2019 and have an average exercise price of $1.48 per share.

 

Additionally, as of March 31, 2019, there were 327,123 unvested restricted shares and 125,000 unvested restricted stock units outstanding.

 

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, distributed antenna systems (“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 customers include telecommunications service providers, systems integrators, neutral host operators and distributors.

16

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

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. 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 (in thousands):

 

     For the three months ended March 31,
     2019   2018 
Net revenue by segment:            
Network Solutions    $5,758   $5,511 
Test and Measurement     3,030    3,763 
Embedded Solutions     4,244    3,990 
Total consolidated net revenue of reportable segments     13,032    13,264 
             
Segment income (loss):            
Network Solutions     707    813 
Test and Measurement     235    510 
Embedded Solutions     (67)    611 
Income (loss) from reportable segments     875    1,934 
             
Other unallocated amounts:            
Corporate expenses     (1,272)    (1,365) 
Other (expenses) income - net     (85)    (139) 
Consolidated income/(loss) before Income tax provision/(benefit)    $(482)   $430 
             
Depreciation and amortization by segment:            
Network Solutions    $123   $136 
Test and Measurement     115    175 
Embedded Solutions     311    315 
Total depreciation and amortization for reportable segments    $549   $626 
             
Capital expenditures by segment:            
Network Solutions    $28   $78 
Test and Measurement     59    102 
Embedded Solutions     41    19 
Total consolidated capital expenditures by reportable segment    $128   $199 
17

WIRELESS TELECOM GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

    

March 31,
2019

  

December 31,
2018

 
Total assets by segment:            
Network Solutions    $11,078   $10,088 
Test and Measurement     8,304    5,943 
Embedded Solutions     18,630    16,804 
Total assets for reportable segments     38,012    32,835 
             
Corporate assets, principally cash and cash equivalents and deferred income taxes     9,077    11,332 
Total consolidated assets    $47,089   $44,167 

 

NOTE 13 – COMMITMENTS AND CONTINGENCIES

 

There have been no material changes in our commitments and contingencies and risks and uncertainties as of March 31, 2019 from that previously disclosed in our annual report on Form 10-K for the year ended December 31, 2018.

18

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 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, 2018.

 

INTRODUCTION

 

Highlights from the First Quarter:

 

Net revenues of $13.0 million for first quarter 2019, a year over year decrease of 2%. Revenue increases at Embedded Solutions and Network Solutions offset by Test and Measurement.

 

Loss before taxes of $0.5 million for the first quarter 2019 primarily due to lower margin product mix.

 

Net cash used by operations of $3.4 million in the first quarter 2019 due to working capital investments, primarily an increase in accounts receivable, and payment of contingent consideration related to CommAgility.

 

RESULTS OF OPERATIONS

 

Three Months Ended March 31, 2019 Compared with Three Months Ended March 31, 2018

 

Net Revenues (in thousands)

 

   Three months ended March 31 
   Revenue   % of Revenue   Change 
   2019   2018   2019   2018   Amount   Pct. 
Network Solutions  $5,758   $5,511    44.2%   41.5%  $247    4.5%
Test and Measurement   3,030    3,763    23.3%   28.4%   (733)    -19.5%
Embedded Solutions   4,244    3,990    32.6%   30.1%   254    6.4%
Total Net Revenues  $13,032   $13,264    100.0%   100.0%  $(232)    -1.7%

 

Net consolidated revenues decreased $0.2 million or 1.7% due primarily to the Test Measurement segment which decreased 19.5% as a result of lower government orders year over year. Embedded Solutions segment revenue increased 6.4% on higher sales of digital signal processing hardware and Network Solutions segment revenue increased 4.5% on increased large venue projects and customized solutions.

 

Gross Profit (in thousands)

 

   Three months ended March 31 
   Gross Profit   Gross Profit %   Change 
   2019   2018   2019   2018   Amount   Pct. 
Network Solutions  $2,389   $2,442    41.5%   44.3%  $(53)   -2.2%
Test and Measurement   1,569    1,845    51.8%   49.0%   (276)   -15.0%
Embedded Solutions   1,769    1,981    41.7%   49.6%   (212)   -10.7%
Total Gross Profit  $5,727   $6,268    43.9%   47.3%  $(541)   -8.6%

 

Consolidated gross profit for the first quarter decreased from 47.3% to 43.9% due primarily to product mix in the Embedded Solutions segment as a result of higher margin software revenue in 2018 and a higher percentage of lower margin hardware revenue in 2019. Also contributing to the lower consolidated gross profit year over year was a slight decrease in Network Solutions gross profit as a result of greater sales of lower margin products and competitive pricing in the industry. This was offset by increased gross profit margin at the Test and Measurement segment as a result of a more favorable product mix.

19

Operating Expenses (in thousands)

 

   Three months ended March 31 
   Operating Expenses   % of Revenue   Change 
   2019   2018   2019  2018  Amount   Pct. 
Research and Development  $1,714   $1,157    13.2%   8.7%  $557    48.1%
Sales and Marketing   1,937    1,910    14.9%   14.4%   27    1.4%
General and Administrative   2,474    2,633    19.0%   19.9%   (159)    -6.0%
Total Operating Expenses  $6,125   $5,700    47.0%   43.0%  $425    7.5%

 

Research and development expenses increased $0.6 million from the prior year period due to increased headcount and investment with product roadmap initiatives, specifically the 5G product roadmap initiative at Embedded Solutions. This was partially offset by a favorable foreign exchange impact.

 

Sales and marketing expenses were flat as compared to the year-ago period as the increased costs in the first quarter of 2019 related to the increase in headcount in the second half of fiscal 2018 at Network Solutions and Test and Measurement which were offset by the favorable foreign exchange impact and lower external commissions due to lower sales.

 

General and administrative expenses decreased $0.2 million primarily due to lower bonus expense and warranty expense as well as the favorable foreign exchange impact.

 

Other Income/(Expense)

 

Other income/(expense) increased $77,000 from expense of $46,000 in the 2018 period to income of $31,000 in the current period on foreign exchange gains recognized on monetary assets and liabilities denominated in currencies other than our functional currencies.

 

Interest Expense

 

Consolidated interest expense increased $23,000 from the prior year period due primarily to higher accretion expense on the contingent consideration liability related to CommAgility.

 

Taxes

 

The Company recorded an income tax benefit for the three months ended March 31, 2019 of $138,000 as compared to income tax expense in the prior year period as a result of the loss from operations in the current year.

 

Net Income/Loss

 

Net loss for the three months ended March 31, 2019 is $0.3 million or loss per share of $.02 as compared to net income of $0.3 million or earnings per share of $.02 in the 2018 first quarter. Lower gross margins at Embedded Solutions and Network Solutions, due primarily to lower margin product mix coupled with higher operating expenses related to investments in 5G roadmap development, contributed to the net loss as compared to the prior year.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As described in Note 9 to the consolidated financial statements, on February 26, 2019 the Company entered into Amendment No. 3 to the Credit Facility which extends the termination date of the Revolver from November 16, 2019 to March 31, 2020. We believe we can further extend the existing Credit Facility beyond March 31, 2020 at terms similar to our current agreement. We expect borrowings available to us under our Credit Facility, our existing cash balance and cash generated by operations to be our primary sources of short-term liquidity. We believe these sources in combination with an extension of our existing Credit Facility beyond March 31, 2020 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.

20

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.

 

As of March 31, 2019, 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 $3.4 million for the three months ended March 31, 2019 which is higher than the prior year period of $1.0 million. The increase was due to increases in working capital, specifically accounts receivable and inventory, as well as the payment of the contingent consideration related to CommAgility in the first quarter of 2019. $0.8 million of the CommAgility contingent consideration payment is included in cash used from operating activities in accordance with ASU 2016-15.

 

Investing Activities

 

Cash used by investing activities was $0.6 million for the three months ended March 31, 2019 and was comprised of capital expenditures and payment of the final deferred purchase price for the CommAgility acquisition.

 

Financing Activities

 

Cash provided by financing activities was $1.3 million for the three months ended March 31, 2019 as compared to $1.7 million for the three months ended March 31, 2018. The decrease from the prior year is primarily due to the payment of the CommAgility contingent consideration of which $0.7 million is included in cash provided by financing activities under ASU 2016-15.

 

Overall, cash and cash equivalents decreased $2.6 million during the three months ended March 31, 2019 for the reasons noted above.

 

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.

 

On August 27, 2018 the Company filed a shelf registration statement on Form S-3 which was declared effective on September 17, 2018. The Form S-3 will permit the Company to issue and sell, from time to time, up to $40 million in aggregate value of shares of its common stock through one or more methods of distribution, subject to applicable SEC limits on the value of securities that the Company, as a smaller reporting company, may sell during an applicable period, market conditions, and the Company’s capital desires and needs. The Company has no current plans to offer any common stock under the shelf registration statement.

 

The terms of any offering of the Company’s common stock, and the intended use of the net proceeds resulting therefrom, will be established at the times of the offerings and will be described in prospectus supplements filed with the SEC at the times of the offerings. The shelf registration statement is intended to provide financial flexibility to access capital in a competitive and expeditious manner when market conditions are appropriate.

 

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.

21

Critical Accounting Policies

There have been no changes in our critical accounting policies or significant accounting estimates as disclosed in our 2018 Form 10-K, except for adoption of Topic 842 which is described in Note 2 and Note 3.

 

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 we believe we can extend the existing Credit Facility at terms similar to our current agreement. 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 intellectual 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, 2018 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, 2019 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, as described in our 2018 Annual Report on Form 10-K.

22

PART II – OTHER INFORMATION

 

Item 1.Legal Proceedings

 

None

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, 2018.

 

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, 2017, Commission File No. 011-11916)
   
10.1 Amendment No. 3 to the Loan and Security Agreement and consent by and among Wireless Telecom Group, Inc., Boonton Electronic Corporation, Microlab/FXR LLC, as borrowers, and Bank of America N.A., as lender, dated February 27, 2019.
   
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, 2019, filed on May 8, 2019, formatted in Extensible Business Reporting Language (XBRL): (i)  Consolidated Balance Sheets, (ii)  Consolidated Statements of Operations and Comprehensive Income/(Loss), (iii)  Consolidated Statements of Cash Flows, (iv)  Consolidated Statements of Shareholders’ Equity, and (v) the Notes to the  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.
23

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 8, 2019      
      By: /s/ Timothy Whelan  
        Timothy Whelan  
        Chief Executive Officer  
           
  Dated:   May 8, 2019      
      By: /s/ Michael Kandell  
        Michael Kandell  
        Chief Financial Officer  
24

EXHIBIT INDEX

 

Exhibits
Number No.
Exhibit Description
   
10.1 Amendment No. 3 to the Loan and Security Agreement and consent by and among Wireless Telecom Group, Inc., Boonton Electronic Corporation, Microlab/FXR LLC, as borrowers, and Bank of America N.A., as lender, dated February 27, 2019.
   
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, 2019, filed on May 8, 2019, formatted in Extensible Business Reporting Language (XBRL): (i)  Consolidated Balance Sheets, (ii)  Consolidated Statements of Operations and Comprehensive Income/(Loss), (iii)  Consolidated Statements of Cash Flows, (iv)  Consolidated Statements of Shareholders’ Equity, and (v) the Notes to the  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
25
EX-10.1 2 c93550_ex10-1.htm

Exhibit 10.1

 

AMENDMENT NO. 3 TO
LOAN AND SECURITY AGREEMENT

 

This AMENDMENT NO. 3 TO LOAN AND SECURITY AGREEMENT AND CONSENT (this “Amendment No. 3”) is entered into as of February 27, 2019, by and among Wireless Telecom Group, Inc., a New Jersey corporation (“WTG”), BOONTON ELECTRONIC CORPORATION, a New Jersey corporation (“Boonton”), MICROLAB/FXR LLC, a New Jersey limited liability company (“Microlab” and, together with WTG and Boonton, collectively, “Borrowers”), and BANK OF AMERICA, N.A. (“Lender”). Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Loan Agreement.

 

RECITALS

 

WHEREAS, Borrowers and Lender have entered into a Loan and Security Agreement, dated as of February 16, 2017 (as amended, restated, supplemented and otherwise modified from time to time in accordance with its provisions, the “Loan Agreement”);

 

WHEREAS, Borrowers have requested that Lender agree, and Lender has agreed, to amend the Loan Agreement on the terms and subject to the conditions set forth herein; and

 

WHEREAS, pursuant to Section 12.1.2 of the Loan Agreement, the amendments and consents requested by Borrowers must be contained in a written agreement signed by Borrowers and Lender;

 

NOW, THEREFORE, in consideration of the premises set forth above and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

SECTION 1.CONFIRMATION BY BORROWERS OF OBLIGATIONS.

 

Borrowers hereby acknowledge, confirm and agree that, as of February 27, 2019, Borrowers are indebted to Lender for Revolver Loans in the aggregate outstanding principal amount of $1,857,567.65, the Term Loan in the aggregate outstanding principal amount of $456,000 and Letters of Credit in the aggregate outstanding face amount of $0, together with interest accrued and accruing thereon. The foregoing amounts do not include other fees, expenses and other amounts that are chargeable or otherwise reimbursable under the Loan Agreement. Borrowers do not have any rights of offset, defenses, claims or counterclaims with respect to any of the Obligations.

 

SECTION 2.ACKNOWLEDGMENTS.

 

2.1         Acknowledgment of Security Interests. Borrowers hereby acknowledge, confirm and agree that Lender, for the benefit of Secured Parties, has and shall continue to have valid, enforceable and perfected first priority Liens, subject to Permitted Liens, upon and security interests in the Collateral of Borrowers heretofore granted to Lender, for the benefit of Secured Parties, pursuant to the Loan Documents or otherwise granted to or held by Lender, for the benefit of Secured Parties, and upon and in which Lender, for the benefit of Secured Parties, presently has perfected first priority Liens and security interests.

 

2.2         Binding Effect of Documents. Each Borrower hereby acknowledges, confirms and agrees that: (a) each of the Loan Documents to which it is a party has been duly executed and delivered, and each is in full force and effect as of the date hereof, (b) the agreements and obligations of each Borrower contained in the Loan Documents and in this Amendment constitute the legal, valid and binding obligations of each Borrower, enforceable against it in accordance with their respective terms, and each Borrower has no

 

valid defense to the enforcement of such obligations, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally and to the effect of general principles of equity whether applied by a court of law or equity, and (c) Lender is and shall be entitled to the rights, remedies and benefits provided for in the Loan Documents and applicable law.

 

SECTION 3.AMENDMENTS. Effective as of the date hereof:

 

3.1         The definition of “EBITDA” now appearing in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

“EBITDA: shall mean for any period with respect to Borrowers and their Domestic Subsidiaries on a consolidated basis, the sum of (without duplication): (a) net income (or loss) for such period; plus (b) all interest expense for such period; plus (c) all charges against income for such period for federal, state and local taxes; plus (d) depreciation expenses for such period; plus (e) amortization expenses for such period; plus (f) non-cash foreign exchange translations; plus (g) subject to clause (k) below, expenses incurred in connection with Permitted Acquisitions; plus (h) subject to clause (k) below, integration expenses incurred in connection with Permitted Acquisitions; plus (i) any non-cash adjustments (including non-cash purchase accounting adjustments), in each case as required or permitted by the application of GAAP (including purchase method of accounting for acquisitions and consolidations, changes in accounting for the amortization of goodwill and certain other intangibles and write downs of long-lived assets, provided, that, the foregoing clause (i) shall not apply to the write down or impairment of the value of Inventory or Accounts); plus (j) non-cash stock compensation expense; plus (k) merger and acquisition costs incurred in connection with Permitted Acquisitions; provided that the aggregate amount under clauses (g), (h) and (k) of this definition shall not exceed $400,000; plus (l) documented non-recurring expenses and restructuring costs, provided, that, the aggregate amount under clause (l) hereof shall not exceed $150,000 during the term of this Agreement.”

 

3.2         The definition of “Revolver Termination Date” now appearing in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

“Revolver Termination Date: March 31, 2020.”

 

3.3         Clause (g) of Section 10.2.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

“(g)     Indebtedness of a Borrower that is owed to another Borrower or to Target.”

 

3.4         Section 10.2.5 of the Loan Agreement is hereby amended by: (i) deleting the word “and” at the end of clause (e) thereof; (ii) deleting the period at the end of clause (f) thereof and substituting therefor “; and”; and (iii) inserting at the end of such Section the following new clause (g):

 

“(g)     investments or capital contributions by WTG in or to Target in an aggregate amount not to exceed the aggregate amount of distributions and dividends made by Target to WTG so long as (i) upon the making of any such distribution or dividend by Target, Lender shall have established a Reserve in an amount equal to the amount thereof, (ii) at the time of such investment or capital contribution, no Default or Event of Default exists or is caused thereby, and (iii) the Fixed Charge Coverage Ratio as of the last day of

2

the Fiscal Quarter then most recently ended (as set forth in the Compliance Certificate delivered to Lender for such Fiscal Quarter) is equal to or greater than 1.25 to 1.0.”

 

3.5         Section 10.2.8 of the Loan Agreement is hereby amended by inserting at the end of such Section the following new sentence:

 

“Notwithstanding anything to the contrary contained herein, Borrowers shall be permitted to make payments and prepayments with respect to debt of a Borrower that is owed to Target so long as (i) upon the incurrence of such debt, Lender shall have established a Reserve in an amount equal to the original principal amount thereof, (ii) at the time of such payment or prepayment, no Default or Event of Default exists or is caused thereby, and (iii) the Fixed Charge Coverage Ratio as of the last day of the Fiscal Quarter then most recently ended (as set forth in the Compliance Certificate delivered to Lender for such Fiscal Quarter) is equal to or greater than 1.25 to 1.0.”

 

SECTION 4.REPRESENTATIONS, WARRANTIES AND COVENANTS.

 

Each Borrower hereby represents, warrants and covenants with and to Lender as follows:

 

4.1         Representations in Loan Documents. Each of the representations and warranties made by or on behalf of such Borrower to Lender in any of the Loan Documents was true and correct in all material respects when made (except for those representations and warranties that are already qualified by concepts of materiality or by express thresholds, which representations and warranties shall be true and correct in all respects) and is true and correct in all material respects on and as of the date of this Amendment with the same full force and effect as if each of such representations and warranties had been made by or on behalf of such Borrower on the date hereof and in this Amendment (other than such representations and warranties that relate solely to a specific prior date).

 

4.2         Binding Effect of Documents. This Amendment and the other Loan Documents have been duly executed and delivered to Lender by such Borrower and are in full force and effect, as modified hereby.

 

4.3         No Conflict, Etc. The execution, delivery and performance of this Amendment by such Borrower will not violate or cause a default under any applicable law or material contract of such Borrower and will not result in, or require, the creation or imposition of any Lien on any of its properties or revenues, other than Permitted Liens.

 

4.4         No Default or Event of Default. No Default or Event of Default exists immediately prior to the execution of this Amendment and no Default or Event of Default will exist immediately after the execution of this Amendment and the other documents, instruments and agreements executed and delivered in connection herewith.

 

4.5         Additional Events of Default. Any misrepresentation by such Borrower, or any failure of such Borrower to comply with the covenants, conditions and agreements contained in any Loan Document, herein or in any other document, instrument or agreement at any time executed and/or delivered by such Borrower with, to or in favor of Lender shall, subject to the terms and provisions of the Loan Agreement and the other Loan Documents, constitute an Event of Default hereunder, under the Loan Agreement and the other Loan Documents.

 

4.6         Certificate of Beneficial Ownership.

 

(a)         As of the Effective Date (as hereinafter defined), the information included in the Beneficial Ownership Certification is true and correct in all respects.

3

(b)          Promptly following any request therefor, Borrowers shall provide information and documentation reasonably requested by Lender for purposes of compliance with applicable “know your customer” requirements under the PATRIOT Act, the Beneficial Ownership Regulation or other applicable anti-money laundering laws.

 

SECTION 5.CONDITIONS TO EFFECTIVENESS OF THIS AMENDMENT.

 

This Amendment shall become effective upon the date (the “Effective Date”) on which Lender shall have received:

 

(a)         this Amendment, in form and substance satisfactory to Lender in its sole discretion, duly authorized, executed and delivered by each Borrower and Lender; and

 

(b)          (i) an amendment fee in the amount of $10,000, which fee shall be earned in full as of the Effective Date and shall be non-refundable, and (ii) all other fees required to be paid, and all expenses for which invoices have been presented, in each case in connection with this Amendment (including reasonable fees, disbursements and other charges of counsel to Lender).

 

SECTION 6.PROVISIONS OF GENERAL APPLICATION.

 

6.1         Effect of this Amendment. Except as modified pursuant hereto, and pursuant to the other documents, instruments and agreements executed and delivered in connection herewith, no other changes or modifications to the Loan Documents are intended or implied and in all other respects the Loan Documents are hereby specifically ratified, restated and confirmed by all parties hereto as of the effective date hereof. To the extent of conflict between the terms of this Amendment and the other Loan Documents, the terms of this Amendment shall control. Any Loan Document amended hereby shall be read and construed with this Amendment as one agreement.

 

6.2         Costs and Expenses. Borrowers absolutely and unconditionally agree to pay to Lender, on demand by Lender at any time and as often as the occasion therefor may require, whether or not all or any of the transactions contemplated by this Amendment are consummated: all reasonable fees and disbursements of any counsel to Lender in connection with the preparation, negotiation, execution, or delivery of this Amendment and any agreements delivered in connection with the transactions contemplated hereby and all reasonable out-of-pocket expenses which shall at any time be incurred or sustained by Lender or its directors, officers, employees or agents as a consequence of or in any way in connection with the preparation, negotiation, execution, or delivery of this Amendment and any agreements prepared, negotiated, executed or delivered in connection with the transactions contemplated hereby.

 

6.3          No Third Party Beneficiaries. The terms and provisions of this Amendment shall be for the benefit of the parties hereto and their respective successors and assigns; no other person, firm, entity or corporation shall have any right, benefit or interest under this Amendment.

 

6.4         Further Assurances. The parties hereto shall execute and deliver such additional documents and take such additional action as may be reasonably necessary or desirable to effectuate the provisions and purposes of this Amendment.

 

6.5         Binding Effect. This Amendment shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns.

 

6.6         Merger. This Amendment sets forth the entire agreement and understanding of the parties with respect to the matters set forth herein. This Amendment cannot be changed, modified, amended or terminated except in a writing executed by the party to be charged.

4

6.7         Survival of Representations and Warranties. All representations and warranties made in this Amendment or any other document furnished in connection with this Amendment shall survive the execution and delivery of this Amendment and the other documents, and no investigation by Lender or any closing shall affect the representations and warranties or the right of Lender to rely upon them.

 

6.8         Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment.

 

6.9         Reviewed by Attorneys. Each Borrower represents and warrants to Lender that it (a) understands fully the terms of this Amendment and the consequences of the execution and delivery of this Amendment, (b) has been afforded an opportunity to have this Amendment reviewed by, and to discuss this Amendment and each document executed in connection herewith with, such attorneys and other persons as such Borrower may wish, and (c) has entered into this Amendment and executed and delivered all documents in connection herewith of its own free will and accord and without threat, duress or other coercion of any kind by any Person. The parties hereto acknowledge and agree that neither this Amendment nor the other documents executed pursuant hereto shall be construed more favorably in favor of one than the other based upon which party drafted the same, it being acknowledged that all parties hereto contributed substantially to the negotiation and preparation of this Amendment and the other documents executed pursuant hereto or in connection herewith.

 

6.10       Governing Law; Consent to Jurisdiction and Venue.

 

(a)         THIS AMENDMENT, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS).

 

(b)          EACH BORROWER HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE COURT SITTING IN OR WITH JURISDICTION OVER THE STATE OF NEW YORK, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY HERETO, AND AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH BORROWER IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING SUCH COURT’S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 12.3.1 OF THE LOAN AGREEMENT. Nothing herein shall limit the right of Lender to bring proceedings against any Obligor in any other court, nor limit the right of any party to serve process in any other manner permitted by Applicable Law. Nothing in this Amendment shall be deemed to preclude enforcement by Lender of any judgment or order obtained in any forum or jurisdiction.

 

6.11       Waivers. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH BORROWER WAIVES (A) THE RIGHT TO TRIAL BY JURY (WHICH LENDER HEREBY ALSO WAIVES) IN ANY PROCEEDING OR DISPUTE OF ANY KIND RELATING IN ANY WAY HERETO; (B) PRESENTMENT, DEMAND, PROTEST, NOTICE OF PRESENTMENT, DEFAULT, NON-PAYMENT, MATURITY, RELEASE, COMPROMISE, SETTLEMENT, EXTENSION OR RENEWAL OF ANY COMMERCIAL PAPER, ACCOUNTS, DOCUMENTS, INSTRUMENTS, CHATTEL PAPER AND GUARANTIES AT ANY TIME HELD BY LENDER ON WHICH A BORROWER MAY IN ANY WAY

5

BE LIABLE, AND HEREBY RATIFIES ANYTHING LENDER MAY DO IN THIS REGARD; (C) NOTICE PRIOR TO TAKING POSSESSION OR CONTROL OF ANY COLLATERAL; (D) ANY BOND OR SECURITY THAT MIGHT BE REQUIRED BY A COURT PRIOR TO ALLOWING LENDER TO EXERCISE ANY RIGHTS OR REMEDIES; (E) THE BENEFIT OF ALL VALUATION, APPRAISEMENT AND EXEMPTION LAWS; (F) ANY CLAIM AGAINST LENDER, ON ANY THEORY OF LIABILITY, FOR SPECIAL, INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES (AS OPPOSED TO DIRECT OR ACTUAL DAMAGES) IN ANY WAY RELATING TO ANY ENFORCEMENT ACTION, OBLIGATIONS, LOAN DOCUMENTS OR TRANSACTIONS RELATING THERETO; AND (G) NOTICE OF ACCEPTANCE HEREOF. Each Borrower acknowledges that the foregoing waivers are a material inducement to Lender entering into this Amendment and that Lender are relying upon the foregoing in their dealings with Borrowers. Each Borrower has reviewed the foregoing waivers with its legal counsel and knowingly and voluntarily has waived its jury trial and other rights following consultation with legal counsel. In the event of litigation, this Amendment may be filed as a written consent to a trial by the court.

 

6.12       Counterparts. This Amendment may be executed in one or more counterparts, each of which shall constitute but one and the same agreement. In making proof of this Amendment, it shall not be necessary to produce or account for more than one counterpart hereof signed by each of the parties hereto. Delivery of an executed counterpart of this Amendment electronically or by facsimile shall be effective as delivery of an original executed counterpart of this Amendment.

 

[Signature page follows]

6

IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first written above.

 

  WIRELESS TELECOM GROUP, INC.  
     
  By:   /s/Michael Kandell  
  Name: Michael Kandell  
  Title: Chief Financial Officer  
     
  BOONTON ELECTRONIC CORPORATION
     
  By:   /s/Michael Kandell  
  Name: Michael Kandell  
  Title: Chief Financial Officer  
     
  MICROLAB/FXR LLC  
     
  By:   /s/Michael Kandell  
  Name: Michael Kandell  
  Title: Chief Financial Officer  
     
  BANK OF AMERICA, N.A.  
     
  By:   /s/Galina Evelson  
  Name: Galina Evelson  
  Title: Vice President  
 
EX-31.1 3 c93550_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

 

5.The registrant’s other certifying officer 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 8, 2019

 

  By: /s/ Timothy Whelan
    Timothy Whelan
    Chief Executive Officer
 
EX-31.2 4 c93550_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

 

5.The registrant’s other certifying officer 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 8, 2019

 

  By: /s/ Michael Kandell
    Michael Kandell
     
    Chief Financial Officer
 
EX-32.1 5 c93550_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, 2019 (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 8, 2019

 

  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 6 c93550_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 Quarterly Report on Form 10-Q of the Company for the quarter ended March 31, 2019 (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 8, 2019

 

  By: /s/ Michael Kandell
    Michael Kandell
    Chief Financial 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-101.INS 7 wtt-20190331.xml 0000878828 2019-03-31 0000878828 2018-12-31 0000878828 2019-01-01 2019-03-31 0000878828 2018-01-01 2018-03-31 0000878828 2017-12-31 0000878828 2018-03-31 0000878828 us-gaap:CommonStockMember 2017-12-31 0000878828 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000878828 us-gaap:RetainedEarningsMember 2017-12-31 0000878828 us-gaap:TreasuryStockMember 2017-12-31 0000878828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0000878828 us-gaap:RetainedEarningsMember 2018-01-01 2018-03-31 0000878828 us-gaap:CommonStockMember 2018-01-01 2018-03-31 0000878828 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-03-31 0000878828 us-gaap:TreasuryStockMember 2018-01-01 2018-03-31 0000878828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0000878828 us-gaap:CommonStockMember 2018-03-31 0000878828 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0000878828 us-gaap:RetainedEarningsMember 2018-03-31 0000878828 us-gaap:TreasuryStockMember 2018-03-31 0000878828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0000878828 us-gaap:CommonStockMember 2018-12-31 0000878828 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000878828 us-gaap:RetainedEarningsMember 2018-12-31 0000878828 us-gaap:TreasuryStockMember 2018-12-31 0000878828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000878828 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0000878828 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0000878828 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0000878828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0000878828 us-gaap:CommonStockMember 2019-03-31 0000878828 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0000878828 us-gaap:RetainedEarningsMember 2019-03-31 0000878828 us-gaap:TreasuryStockMember 2019-03-31 0000878828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0000878828 2019-04-22 0000878828 wtt:CustomerOneMember 2018-01-01 2018-03-31 0000878828 wtt:CustomerOneMember 2019-01-01 2019-03-31 0000878828 wtt:CustomerOneMember 2019-03-31 0000878828 wtt:CustomerOneMember 2018-03-31 0000878828 2019-01-01 0000878828 srt:MinimumMember 2019-03-31 0000878828 srt:MaximumMember 2019-03-31 0000878828 us-gaap:SalesRevenueNetMember 2019-01-01 2019-03-31 0000878828 us-gaap:SalesRevenueNetMember 2018-01-01 2018-03-31 0000878828 wtt:ContractAssetsInPrepaidExpenseAndOtherAssetsMember 2018-12-31 0000878828 us-gaap:AccountingStandardsUpdate201409Member 2019-03-31 0000878828 us-gaap:AccountingStandardsUpdate201409Member 2018-12-31 0000878828 wtt:PassiveRFComponentsMember wtt:NetworkSolutionsMember 2019-01-01 2019-03-31 0000878828 wtt:PassiveRFComponentsMember 2019-01-01 2019-03-31 0000878828 wtt:PassiveRFComponentsMember wtt:NetworkSolutionsMember 2018-01-01 2018-03-31 0000878828 wtt:PassiveRFComponentsMember 2018-01-01 2018-03-31 0000878828 wtt:NoiseGeneratorsAndComponentsMember wtt:TestAndMeasurementMember 2019-01-01 2019-03-31 0000878828 wtt:NoiseGeneratorsAndComponentsMember 2019-01-01 2019-03-31 0000878828 wtt:NoiseGeneratorsAndComponentsMember wtt:TestAndMeasurementMember 2018-01-01 2018-03-31 0000878828 wtt:NoiseGeneratorsAndComponentsMember 2018-01-01 2018-03-31 0000878828 wtt:PowerMetersAndAnalyzersMember wtt:TestAndMeasurementMember 2019-01-01 2019-03-31 0000878828 wtt:PowerMetersAndAnalyzersMember 2019-01-01 2019-03-31 0000878828 wtt:PowerMetersAndAnalyzersMember wtt:TestAndMeasurementMember 2018-01-01 2018-03-31 0000878828 wtt:PowerMetersAndAnalyzersMember 2018-01-01 2018-03-31 0000878828 wtt:SignalProcessingHardwareMember wtt:EmbeddedSolutionMember 2019-01-01 2019-03-31 0000878828 wtt:SignalProcessingHardwareMember 2019-01-01 2019-03-31 0000878828 wtt:SignalProcessingHardwareMember wtt:EmbeddedSolutionMember 2018-01-01 2018-03-31 0000878828 wtt:SignalProcessingHardwareMember 2018-01-01 2018-03-31 0000878828 wtt:SoftwareLicensesMember wtt:EmbeddedSolutionMember 2019-01-01 2019-03-31 0000878828 wtt:SoftwareLicensesMember 2019-01-01 2019-03-31 0000878828 wtt:SoftwareLicensesMember wtt:EmbeddedSolutionMember 2018-01-01 2018-03-31 0000878828 wtt:SoftwareLicensesMember 2018-01-01 2018-03-31 0000878828 us-gaap:ServiceMember wtt:TestAndMeasurementMember 2019-01-01 2019-03-31 0000878828 us-gaap:ServiceMember wtt:EmbeddedSolutionMember 2019-01-01 2019-03-31 0000878828 us-gaap:ServiceMember 2019-01-01 2019-03-31 0000878828 us-gaap:ServiceMember wtt:TestAndMeasurementMember 2018-01-01 2018-03-31 0000878828 us-gaap:ServiceMember wtt:EmbeddedSolutionMember 2018-01-01 2018-03-31 0000878828 us-gaap:ServiceMember 2018-01-01 2018-03-31 0000878828 wtt:NetworkSolutionsMember 2019-01-01 2019-03-31 0000878828 wtt:TestAndMeasurementMember 2019-01-01 2019-03-31 0000878828 wtt:EmbeddedSolutionMember 2019-01-01 2019-03-31 0000878828 wtt:NetworkSolutionsMember 2018-01-01 2018-03-31 0000878828 wtt:TestAndMeasurementMember 2018-01-01 2018-03-31 0000878828 wtt:EmbeddedSolutionMember 2018-01-01 2018-03-31 0000878828 srt:AmericasMember wtt:NetworkSolutionsMember 2019-01-01 2019-03-31 0000878828 srt:AmericasMember wtt:TestAndMeasurementMember 2019-01-01 2019-03-31 0000878828 srt:AmericasMember wtt:EmbeddedSolutionMember 2019-01-01 2019-03-31 0000878828 srt:AmericasMember 2019-01-01 2019-03-31 0000878828 srt:AmericasMember wtt:NetworkSolutionsMember 2018-01-01 2018-03-31 0000878828 srt:AmericasMember wtt:TestAndMeasurementMember 2018-01-01 2018-03-31 0000878828 srt:AmericasMember wtt:EmbeddedSolutionMember 2018-01-01 2018-03-31 0000878828 srt:AmericasMember 2018-01-01 2018-03-31 0000878828 us-gaap:EMEAMember wtt:NetworkSolutionsMember 2019-01-01 2019-03-31 0000878828 us-gaap:EMEAMember wtt:TestAndMeasurementMember 2019-01-01 2019-03-31 0000878828 us-gaap:EMEAMember wtt:EmbeddedSolutionMember 2019-01-01 2019-03-31 0000878828 us-gaap:EMEAMember 2019-01-01 2019-03-31 0000878828 us-gaap:EMEAMember wtt:NetworkSolutionsMember 2018-01-01 2018-03-31 0000878828 us-gaap:EMEAMember wtt:TestAndMeasurementMember 2018-01-01 2018-03-31 0000878828 us-gaap:EMEAMember wtt:EmbeddedSolutionMember 2018-01-01 2018-03-31 0000878828 us-gaap:EMEAMember 2018-01-01 2018-03-31 0000878828 srt:AsiaPacificMember wtt:NetworkSolutionsMember 2019-01-01 2019-03-31 0000878828 srt:AsiaPacificMember wtt:TestAndMeasurementMember 2019-01-01 2019-03-31 0000878828 srt:AsiaPacificMember wtt:EmbeddedSolutionMember 2019-01-01 2019-03-31 0000878828 srt:AsiaPacificMember 2019-01-01 2019-03-31 0000878828 srt:AsiaPacificMember wtt:NetworkSolutionsMember 2018-01-01 2018-03-31 0000878828 srt:AsiaPacificMember wtt:TestAndMeasurementMember 2018-01-01 2018-03-31 0000878828 srt:AsiaPacificMember wtt:EmbeddedSolutionMember 2018-01-01 2018-03-31 0000878828 srt:AsiaPacificMember 2018-01-01 2018-03-31 0000878828 wtt:CommAgilityMember 2019-01-01 2019-03-31 0000878828 wtt:CommAgilityMember 2017-02-01 2017-02-17 0000878828 wtt:CommAgilityMember 2017-02-17 0000878828 wtt:CommAgilityMember 2019-03-31 0000878828 srt:MaximumMember wtt:CommAgilityMember wtt:TwoThousandSeventeenAdjustedEBITDAThresholdMember 2017-02-01 2017-02-17 0000878828 srt:MaximumMember wtt:CommAgilityMember wtt:TwoThousandEighteenAdjustedEBITDAThresholdMember 2017-02-01 2017-02-17 0000878828 wtt:CommAgilityMember 2018-01-01 2018-03-31 0000878828 wtt:TotalPurchasePriceMember 2019-01-01 2019-03-31 0000878828 wtt:WeightedAverageCommonShareOustandingCalculationMember 2019-01-01 2019-03-31 0000878828 wtt:WeightedAverageCommonShareOustandingCalculationMember 2018-01-01 2018-03-31 0000878828 wtt:TermLoanMember 2017-02-16 0000878828 wtt:RevolvingLoanMember 2017-02-16 0000878828 wtt:RevolvingLoanMember 2017-02-16 2017-02-16 0000878828 wtt:TermLoanMember 2017-02-16 2017-02-16 0000878828 wtt:TermLoanMember 2019-01-01 2019-03-31 0000878828 wtt:RevolvingLoanMember 2019-01-01 2019-03-31 0000878828 us-gaap:RevolvingCreditFacilityMember 2019-02-01 2019-02-26 0000878828 wtt:TermLoanMember 2017-09-30 2017-09-30 0000878828 wtt:RevolvingLoanMember 2017-09-30 2017-09-30 0000878828 wtt:TermLoanMember wtt:CoverageRatioGreaterThan125To100Member 2019-01-01 2019-03-31 0000878828 wtt:RevolvingLoanMember wtt:CoverageRatioGreaterThan125To100Member 2019-01-01 2019-03-31 0000878828 wtt:TermLoanMember wtt:CoverageRatioGreaterThan100To100LessThan125To100Member 2019-01-01 2019-03-31 0000878828 wtt:RevolvingLoanMember wtt:CoverageRatioGreaterThan100To100LessThan125To100Member 2019-01-01 2019-03-31 0000878828 wtt:TermLoanMember wtt:CoverageRatioLessThan100To100Member 2019-01-01 2019-03-31 0000878828 wtt:RevolvingLoanMember wtt:CoverageRatioLessThan100To100Member 2019-01-01 2019-03-31 0000878828 wtt:PenaltyForEarlierContractualTerminationInOneYearMember 2019-03-31 0000878828 wtt:PenaltyForEarlierContractualTerminationInYearTwoMember 2019-03-31 0000878828 wtt:RevolvingLoanMember 2019-03-31 0000878828 wtt:TermLoanMember 2019-03-31 0000878828 wtt:RevolvingLoanMember 2018-12-31 0000878828 wtt:TermLoanMember 2018-12-31 0000878828 wtt:IncentiveCompensationPlan2012Member 2012-01-01 2012-12-31 0000878828 wtt:IncentiveCompensationPlan2012Member 2014-06-30 0000878828 wtt:IncentiveCompensationPlan2012Member 2019-03-31 0000878828 wtt:ServiceBasedStockOptionsMember 2019-01-01 2019-03-31 0000878828 wtt:PerformanceBasedStockOptionsMember 2019-01-01 2019-03-31 0000878828 us-gaap:RestrictedStockMember wtt:IncentiveCompensationPlan2012Member 2019-01-01 2019-03-31 0000878828 us-gaap:RestrictedStockMember wtt:IncentiveCompensationPlan2012Member 2019-03-31 0000878828 wtt:ServiceBasedStockOptionsMember wtt:IncentiveCompensationPlan2012Member 2019-01-01 2019-03-31 0000878828 wtt:ServiceBasedStockOptionsMember 2019-03-31 0000878828 wtt:PerformanceBasedStockOptionsMember 2019-03-31 0000878828 us-gaap:RestrictedStockMember 2019-03-31 0000878828 us-gaap:RestrictedStockUnitsRSUMember 2019-03-31 0000878828 wtt:GrantDate16Member 2019-01-01 2019-03-31 0000878828 wtt:NetworkSolutionsMember 2019-03-31 0000878828 wtt:NetworkSolutionsMember 2018-12-31 0000878828 wtt:TestAndMeasurementMember 2019-03-31 0000878828 wtt:TestAndMeasurementMember 2018-12-31 0000878828 wtt:EmbeddedSolutionMember 2019-03-31 0000878828 wtt:EmbeddedSolutionMember 2018-12-31 iso4217:USD iso4217:USD xbrli:shares xbrli:shares xbrli:pure iso4217:GBP 2457000 5015000 12129000 8638000 7763000 6884000 1017000 1689000 23366000 22226000 2517000 2578000 9950000 9778000 3001000 3206000 5751000 5592000 1766000 738000 787000 21206000 19363000 47089000 44167000 4051000 2016000 5215000 3252000 423000 2967000 6083000 207000 103000 12863000 11454000 1350000 96000 115000 628000 616000 2074000 731000 345000 344000 48687000 48479000 7212000 7556000 24509000 24509000 417000 112000 32152000 31982000 47089000 44167000 62000 44000 1830000 1910000 0.01 0.01 2000000 2000000 0 0 0.01 0.01 75000000 75000000 34488252 34393252 21300252 21205251 13188601 13188601 13032000 13264000 7305000 6996000 5727000 6268000 1714000 1157000 1937000 1910000 2474000 2633000 6125000 5700000 -398000 568000 31000 -46000 115000 92000 -482000 430000 -138000 56000 -344000 374000 305000 579000 -39000 953000 -0.02 0.02 -0.02 0.02 20973000 20644000 20973000 21633000 549000 626000 16000 19000 209000 188000 -6000 5000 -159000 37000 18000 -1000 47000 19000 3456000 1574000 916000 524000 -792000 507000 1888000 -255000 -772000 -1235000 635000 -3369000 -958000 128000 199000 426000 811000 -554000 -1010000 9788000 10603000 7715000 9191000 38000 38000 782000 288000 1253000 1662000 112000 88000 -2558000 -218000 2458000 2240000 41000 36000 26000 9000 33868252 339000 47494000 7176000 -20910000 1004000 35103000 345000 345000 33868252 339000 47494000 7521000 -20910000 1004000 35448000 374000 300000 3000 285000 288000 -3599000 -3599000 188000 188000 579000 579000 34168252 342000 47967000 7895000 -24509000 1583000 33278000 34393252 344000 48479000 7556000 -24509000 112000 31982000 -344000 95000 1000 -1000 209000 209000 305000 305000 34488252 345000 48687000 7212000 -24509000 417000 32152000 WIRELESS TELECOM GROUP INC 10-Q wtt --12-31 true false false 21300252 false 0000878828 Non-accelerated Filer 2019 Q1 2019-03-31 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 1 - Summary of Significant Accounting Principles and Policies</p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Basis of Presentation and Preparation</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Wireless Telecom Group, Inc., a New Jersey corporation, together with its subsidiaries (&#x201c;we&#x201d;, &#x201c;us&#x201d;, &#x201c;our&#x201d; or the &#x201c;Company&#x201d;), is a global designer and manufacturer of advanced radio frequency (&#x201c;RF&#x201d;) 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 (&#x201c;LTE&#x201d;) physical layer (&#x201c;PHY&#x201d;) and stack software, power splitters and combiners, global positioning system (&#x201c;GPS&#x201d;) splitters and 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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The consolidated balance sheet as of March 31, 2019, the consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2019 and 2018, the consolidated statements of cash flows for the three months ended March 31, 2019 and 2018 and the consolidated statement of shareholders&#x2019; equity for the three months ended March 31, 2019 and 2018 have been prepared by the Company without audit. The 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 (&#x201c;Boonton&#x201d;), Microlab/FXR LLC (&#x201c;Microlab&#x201d;), Wireless Telecommunications Ltd. and CommAgility Limited (&#x201c;CommAgility&#x201d;). All intercompany transactions and balances have been eliminated in consolidation.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company presents its operations in three reportable segments: (1) Network Solutions, (2) Test and Measurement and (3) Embedded Solutions. The Network Solutions segment is comprised of the operations of Microlab. The Test and Measurement segment is comprised of the operations of Boonton and Noisecom.<font style="color: black"> The Embedded Solutions segment is comprised of the operations of CommAgility.</font></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">It is suggested that these interim consolidated financial statements be read in conjunction with the audited consolidated financial statements, and the notes thereto, included in the Company&#x2019;s latest annual report (Form 10-K).</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company&#x2019;s fiscal periods are based on the calendar year. Except as otherwise specified, references to &#x201c;first quarter(s)&#x201d; or &#x201c;three months&#x201d; indicate the Company&#x2019;s fiscal periods ending March 31, 2019 and March 31, 2018, and references to &#x201c;year-end&#x201d; indicate the fiscal year ended December 31, 2018.</p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Consolidated Financial Statements</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In the opinion of management, the accompanying 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&#x2019;s results for the interim periods being presented.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The accounting policies followed by the Company are set forth in Note 1 to the Company&#x2019;s consolidated financial statements included in its annual report on Form 10-K for the year ended December 31, 2018. 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 (&#x201c;US GAAP&#x201d;) have been reduced for interim periods in accordance with SEC rules.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year ending December 31, 2019.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><b>Reclassification</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Certain prior period amounts have been reclassified to conform with the current period presentation.</p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Concentration Risk</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The majority of the Company&#x2019;s cash balance is held outside of the United States.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">For the three months ended March 31, 2019 and 2018, one customer accounted for approximately 31% and 16% of the Company&#x2019;s consolidated revenues, respectively. At March 31, 2019 and 2018, one customer accounted for 40% and 23% of consolidated gross accounts receivable, respectively.</p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Subsequent Events</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><font style="font-weight: normal">Management has evaluated subsequent events and determined that there were no subsequent events or transactions requiring recognition or disclosure in the consolidated financial statements, and the notes thereto, through the date the financial statements were issued.</font></p><br/> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Basis of Presentation and Preparation</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Wireless Telecom Group, Inc., a New Jersey corporation, together with its subsidiaries (&#x201c;we&#x201d;, &#x201c;us&#x201d;, &#x201c;our&#x201d; or the &#x201c;Company&#x201d;), is a global designer and manufacturer of advanced radio frequency (&#x201c;RF&#x201d;) 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 (&#x201c;LTE&#x201d;) physical layer (&#x201c;PHY&#x201d;) and stack software, power splitters and combiners, global positioning system (&#x201c;GPS&#x201d;) splitters and 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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The consolidated balance sheet as of March 31, 2019, the consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2019 and 2018, the consolidated statements of cash flows for the three months ended March 31, 2019 and 2018 and the consolidated statement of shareholders&#x2019; equity for the three months ended March 31, 2019 and 2018 have been prepared by the Company without audit. The 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 (&#x201c;Boonton&#x201d;), Microlab/FXR LLC (&#x201c;Microlab&#x201d;), Wireless Telecommunications Ltd. and CommAgility Limited (&#x201c;CommAgility&#x201d;). All intercompany transactions and balances have been eliminated in consolidation.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company presents its operations in three reportable segments: (1) Network Solutions, (2) Test and Measurement and (3) Embedded Solutions. The Network Solutions segment is comprised of the operations of Microlab. The Test and Measurement segment is comprised of the operations of Boonton and Noisecom.<font style="color: black"> The Embedded Solutions segment is comprised of the operations of CommAgility.</font></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">It is suggested that these interim consolidated financial statements be read in conjunction with the audited consolidated financial statements, and the notes thereto, included in the Company&#x2019;s latest annual report (Form 10-K).</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company&#x2019;s fiscal periods are based on the calendar year. Except as otherwise specified, references to &#x201c;first quarter(s)&#x201d; or &#x201c;three months&#x201d; indicate the Company&#x2019;s fiscal periods ending March 31, 2019 and March 31, 2018, and references to &#x201c;year-end&#x201d; indicate the fiscal year ended December 31, 2018.</p> 3 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Consolidated Financial Statements</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In the opinion of management, the accompanying 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&#x2019;s results for the interim periods being presented.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The accounting policies followed by the Company are set forth in Note 1 to the Company&#x2019;s consolidated financial statements included in its annual report on Form 10-K for the year ended December 31, 2018. 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 (&#x201c;US GAAP&#x201d;) have been reduced for interim periods in accordance with SEC rules.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year ending December 31, 2019.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><b>Reclassification</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Certain prior period amounts have been reclassified to conform with the current period presentation.</p> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Concentration Risk</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The majority of the Company&#x2019;s cash balance is held outside of the United States.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">For the three months ended March 31, 2019 and 2018, one customer accounted for approximately 31% and 16% of the Company&#x2019;s consolidated revenues, respectively. At March 31, 2019 and 2018, one customer accounted for 40% and 23% of consolidated gross accounts receivable, respectively.</p> 1 1 0.31 0.16 1 1 0.40 0.23 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Subsequent Events</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><font style="font-weight: normal">Management has evaluated subsequent events and determined that there were no subsequent events or transactions requiring recognition or disclosure in the consolidated financial statements, and the notes thereto, through the date the financial statements were issued.</font></p> <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 2 &#x2013; Accounting Pronouncements</p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Recently Adopted Accounting Standards</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In February 2016, the FASB issued Accounting Standards Update (&#x201c;ASU&#x201d;) 2016-02, <i>Leases (Topic 842)</i>, which created 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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company adopted the requirements of the new standard effective January 1, 2019 using the modified retrospective transition method, which applies the provisions of the standard at the effective date without adjustment to the comparative periods presented. The Company adopted the following practical expedients and elected the following accounting policies related to this standard:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 54pt"></td><td style="width: 18pt"><font style="font-family: Symbol">&#xb7;</font></td><td style="text-align: justify">Carry forward of historical lease classifications and accounting treatment;</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 54pt"></td><td style="width: 18pt"><font style="font-family: Symbol">&#xb7;</font></td><td style="text-align: justify">Short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less; and</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 54pt"></td><td style="width: 18pt"><font style="font-family: Symbol">&#xb7;</font></td><td style="text-align: justify">The option to not separate lease and non-lease components for certain equipment lease categories such as office printers and copiers.</td></tr></table><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Adoption of this standard resulted in the recognition of operating lease right-of-use assets and corresponding lease liabilities of $1.9 million on the consolidated balance sheet as of January 1, 2019. The standard did not materially impact operating results or liquidity. Disclosures related to the amount, timing and uncertainty of cash flows arising from leases are included in Note 3.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">On June 20, 2018, the FASB issued ASU 2018-07, <i>Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting.</i> ASU 2018-07 is intended to reduce cost and complexity and to improve financial reporting for share-based payments issued to nonemployees. This ASU expands the scope of&#xa0;ASC <font style="text-underline-style: none">Topic 718, <i>Compensation - Stock Compensation</i></font>, which currently only includes share-based payments issued to employees, to also include share-based payments issued to nonemployees for goods and services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. ASU 2018-07 supersedes&#xa0;ASC <font style="text-underline-style: none"><i>Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees</i></font>. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Company adopted this standard on January 1, 2019 and it did not have a material impact on our financial statements.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Except for the change in accounting policies for leases as a result of adopting Topic 842, there have been no other changes to our significant accounting policies as described in the 2018 Form 10-K that had a material impact on our consolidated financial statements and related notes.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><b>Recent Accounting Pronouncements Not Yet Adopted</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In June 2016, the FASB issued ASU 2016-13, <i>Financial Instruments &#x2013; Credit Losses (Topic 326)</i>. ASU 2016-13 changes the impairment model for most financial assets and will require the use of an &#x201c;expected loss&#x201d; model for instruments measured as amortized cost. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. The Company plans to adopt the standard effective January 1, 2020. We are currently in the process of evaluating the effects of this pronouncement on our consolidated financial statements.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In August 2018, the FASB issued ASU 2018-13, <i>Fair Value Measurement, Disclosure Framework &#x2013; Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820)</i>. ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. We are currently in the process of evaluating the effects of this pronouncement on our consolidated financial statements.</p><br/> 1900000 1900000 <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><b>NOTE 3 &#x2013; Leases</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company&#x2019;s lease agreements consist of building leases for its operating locations and office equipment leases for printers and copiers with lease terms that range from less than 12 months to 8 years. At inception, the Company determines if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. The Company&#x2019;s leases for office equipment such as printers and copiers contain lease and non-lease components (i.e. maintenance). The Company accounts for lease and non-lease components of office equipment as a single lease component.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">All of the Company&#x2019;s leases are operating leases and are presented as right of use lease asset, short term lease liability and long term lease liability on the consolidated balance sheet as of March 31, 2019. These assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company&#x2019;s incremental borrowing rate. Short-term leases, which have an initial term of 12 months or less, are not recorded on the balance sheet.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Lease expense is recognized on a straight-line basis over the lease term and is included in cost of revenues and general and administrative expenses on the consolidated statement of operations and comprehensive income/(loss).</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">An initial right-of-use asset of $1.9 million was recognized as a non-cash asset addition with the adoption of the new lease accounting standard. Subsequent to adoption of the new standard there were no new right-of-use assets recognized during the first quarter of 2019. Cash paid for amounts included in the present value of operating lease liabilities was $0.1 million during the first quarter of 2019 and is included in operating cash flows.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Operating lease costs were $0.1 million during the first quarter of 2019. Right of use assets in the amount of $1.8 million are included in the consolidated balance sheet as of March 31, 2019.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The following table presents information about the amount and timing of cash flows arising from the Company&#x2019;s operating leases as of March 31, 2019.</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1px solid; padding-left: 5pt">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">March 31, 2019</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-weight: bold; text-align: left; padding-left: 5pt">Maturity of Lease Liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 77%; padding-left: 5pt">2019 (remaining)</td><td style="width: 5%">&#xa0;</td> <td style="width: 5%; text-align: left">$</td><td style="width: 12%; text-align: right">383</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-left: 5pt">2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">511</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">2021</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">474</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-left: 5pt">2022</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">488</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">2023</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">123</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px; padding-left: 5pt">Thereafter</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">Total Undiscounted Operating Lease Payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,979</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 5pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5pt">Less:&#xa0;&#xa0;imputed interest</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(206)</td><td style="padding-bottom: 1px; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 3px; padding-left: 5pt">Present Value of Operating Lease Liabilities</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; text-align: right">1,773</td><td style="padding-bottom: 3px; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 5pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-weight: bold; text-align: left; padding-left: 5pt">Other information</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">Weighted-average remaining lease term for operating leases (in months)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">47</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-left: 5pt">Weighted-average discount rate for operating leases</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5.70%</td><td style="text-align: left">&#xa0;</td></tr> </table><br/> P12M P8Y 0 100000 100000 The following table presents information about the amount and timing of cash flows arising from the Company&#x2019;s operating leases as of March 31, 2019.<br /><br /><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1px solid; padding-left: 5pt">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">March 31, 2019</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-weight: bold; text-align: left; padding-left: 5pt">Maturity of Lease Liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 77%; padding-left: 5pt">2019 (remaining)</td><td style="width: 5%">&#xa0;</td> <td style="width: 5%; text-align: left">$</td><td style="width: 12%; text-align: right">383</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-left: 5pt">2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">511</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">2021</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">474</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-left: 5pt">2022</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">488</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">2023</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">123</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="padding-bottom: 1px; padding-left: 5pt">Thereafter</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">Total Undiscounted Operating Lease Payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,979</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 5pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5pt">Less:&#xa0;&#xa0;imputed interest</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(206)</td><td style="padding-bottom: 1px; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 3px; padding-left: 5pt">Present Value of Operating Lease Liabilities</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; text-align: right">1,773</td><td style="padding-bottom: 3px; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 5pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="font-weight: bold; text-align: left; padding-left: 5pt">Other information</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 5pt">Weighted-average remaining lease term for operating leases (in months)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">47</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-left: 5pt">Weighted-average discount rate for operating leases</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5.70%</td><td style="text-align: left">&#xa0;</td></tr> </table> 383000 511000 474000 488000 123000 1979000 206000 1773000 P47M 0.0570 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 4 &#x2013; Revenue</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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&#x2019;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 99% and 95% of the Company&#x2019;s total revenue for the three months ended March 31, 2019 and 2018, respectively.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><b>Nature of Products and Services</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><i>Hardware</i></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><font style="color: black">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.&#xa0;&#xa0;Generally, control is transferred when legal title of the asset moves from the Company to the customer. </font>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:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 50.4pt"></td><td style="width: 18pt"><font style="font-family: Symbol">&#xb7;</font></td><td style="text-align: justify">when the Company has a present right to payment for the asset</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 50.4pt"></td><td style="width: 18pt"><font style="font-family: Symbol">&#xb7;</font></td><td style="text-align: justify">when the Company has transferred physical possession of the asset to the customer</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 50.4pt"></td><td style="width: 18pt"><font style="font-family: Symbol">&#xb7;</font></td><td style="text-align: justify">when the customer has the significant risks and rewards of ownership of the asset</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 50.4pt"></td><td style="width: 18pt"><font style="font-family: Symbol">&#xb7;</font></td><td style="text-align: justify">when the customer has accepted the asset</td></tr></table><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><i>Software</i></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><font style="color: black">Performance obligations that are not distinct at contract inception are combined. Specifically, with the Company&#x2019;s sales of software, contracts that include customization may result in the combination of the customization services with the license as one distinct performance obligat</font>ion and recognized over time. The duration of these performance obligations are typically one year or less. <font style="font-size: 10pt; color: black"><i>&#xa0;</i></font></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt"><i>Services</i></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: left">Arrangements involving calibration and repair services in the Company&#x2019;s Test and Measurement segment are generally considered a single performance obligation and are recognized as the services are rendered.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt"><i>Shipping and Handling</i></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: left">Shipping and handling activities performed after the customer obtains control are accounted for as fulfillment activities and recognized as cost of revenues.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt"><b>Significant Judgments</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">For the Company&#x2019;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, judgment is required to determine the standalone selling price for each distinct performance obligation.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Certain of the Company shipments include a limited return right. In those cases the Company recognizes revenue net of expected returns.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><b>Contract Balances</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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&#x2019;s 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 were immaterial as of March 31, 2019 and $0.3 million as of December 31, 2018. Deferred revenue is $0.2 million and $0.1 million as of March 31, 2019 and December 31, 2018, respectively.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><b>Disaggregated Revenue</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt"><font style="color: black">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 </font>(in thousands).</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 95%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 18pt"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="14" style="color: black; font-weight: bold; text-align: center">Three Months Ended March 31, 2019</td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="14" style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Network<br /> Solutions</td><td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Test and<br /> Measurement</td><td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Embedded<br /> Solutions</td><td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold; text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="2" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Revenue Type</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 40%; color: black; text-align: left">Passive RF Components</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">5,758</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">-</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">-</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">5,758</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Noise Generators and Components</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,446</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,446</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Power Meters and Analyzers</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,308</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,308</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Signal Processing Hardware</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">4,058</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">4,058</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Software Licenses</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">3</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">3</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px">Services</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">276</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">183</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">459</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,758</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,030</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">4,244</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,032</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="5" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Geographic Areas</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Americas</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">5,203</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,804</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">175</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">7,182</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">EMEA</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">501</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">549</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">4,061</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">5,111</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-bottom: 1px">APAC</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">54</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">677</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">8</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">739</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,758</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,030</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">4,244</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,032</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 95%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 18pt"> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td style="color: black; font-weight: bold; text-align: left">&#xa0;</td><td colspan="13" style="color: Black; text-align: center"><b>Three Months Ended March 31, 2018</b></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td style="color: black; font-weight: bold; text-align: left">&#xa0;</td><td colspan="13" style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Network<br /> Solutions</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Test and<br /> Measurement</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Embedded<br /> Solutions</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Total</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="2" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Revenue Type</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; width: 40%">Passive RF Components</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">5,511</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">-</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">-</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">5,511</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Noise Generators and Components</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,499</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,499</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Power Meters and Analyzers</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,980</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,980</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Signal Processing Hardware</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">2,906</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">2,906</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Software Licenses</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">483</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">483</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px">Services</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">284</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">601</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">885</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,511</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,763</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,990</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,264</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="5" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Geographic Areas</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Americas</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">4,159</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">2,515</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,423</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">8,097</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">EMEA</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">941</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">449</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">2,370</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">3,760</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-bottom: 1px">APAC</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">411</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">799</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">197</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">1,407</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,511</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,763</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,990</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,264</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> </table><br/> 0.99 0.95 300000 200000 100000 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 (in thousands).<br /><br /><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 95%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 18pt"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="14" style="color: black; font-weight: bold; text-align: center">Three Months Ended March 31, 2019</td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="14" style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Network<br /> Solutions</td><td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Test and<br /> Measurement</td><td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Embedded<br /> Solutions</td><td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold; text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="2" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Revenue Type</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 40%; color: black; text-align: left">Passive RF Components</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">5,758</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">-</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">-</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">$</td><td style="width: 10%; color: black; text-align: right">5,758</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Noise Generators and Components</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,446</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,446</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Power Meters and Analyzers</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,308</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,308</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Signal Processing Hardware</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">4,058</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">4,058</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Software Licenses</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">3</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">3</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px">Services</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">276</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">183</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">459</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,758</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,030</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">4,244</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,032</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="5" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Geographic Areas</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Americas</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">5,203</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,804</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">175</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">7,182</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">EMEA</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">501</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">549</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">4,061</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">5,111</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-bottom: 1px">APAC</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">54</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">677</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">8</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">739</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,758</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,030</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">4,244</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,032</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 95%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 18pt"> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td style="color: black; font-weight: bold; text-align: left">&#xa0;</td><td colspan="13" style="color: Black; text-align: center"><b>Three Months Ended March 31, 2018</b></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td style="color: black; font-weight: bold; text-align: left">&#xa0;</td><td colspan="13" style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Network<br /> Solutions</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Test and<br /> Measurement</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Embedded<br /> Solutions</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center">Total</td><td style="color: black; font-weight: bold; text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="2" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Revenue Type</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; width: 40%">Passive RF Components</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">5,511</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">-</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">-</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td><td style="color: black; width: 3%">&#xa0;</td> <td style="color: black; text-align: left; width: 1%">$</td><td style="color: black; text-align: right; width: 10%">5,511</td><td style="color: black; text-align: left; width: 1%">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Noise Generators and Components</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,499</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,499</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Power Meters and Analyzers</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,980</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">1,980</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left">Signal Processing Hardware</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">2,906</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">2,906</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">Software Licenses</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">-</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">483</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">483</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 1px">Services</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">-</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">284</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">601</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">885</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,511</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,763</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,990</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,264</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td colspan="5" style="color: black; font-weight: bold; text-align: left">Total Net Revenues by Geographic Areas</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black">Americas</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">4,159</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">2,515</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">1,423</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">$</td><td style="color: black; text-align: right">8,097</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black">EMEA</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">941</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">449</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">2,370</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">3,760</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; padding-bottom: 1px">APAC</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">411</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">799</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">197</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">1,407</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; font-weight: bold; text-align: left; padding-bottom: 3px">Total Net Revenue</td><td style="color: black; font-weight: bold; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">5,511</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,763</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">3,990</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 3px double; color: black; font-weight: bold; text-align: right">13,264</td><td style="padding-bottom: 3px; color: black; font-weight: bold; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> </table> 5758000 5758000 5511000 5511000 1446000 1446000 1499000 1499000 1308000 1308000 1980000 1980000 4058000 4058000 2906000 2906000 3000 3000 483000 483000 276000 183000 459000 284000 601000 885000 5758000 3030000 4244000 5511000 3763000 3990000 5203000 1804000 175000 7182000 4159000 2515000 1423000 8097000 501000 549000 4061000 5111000 941000 449000 2370000 3760000 54000 677000 8000 739000 411000 799000 197000 1407000 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 5 &#x2013; Acquisition of CommAgility</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">On February 17, 2017, Wireless Telecommunications, Ltd. (the &#x201c;Acquisition Subsidiary&#x201d;), 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 from CommAgility&#x2019;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 $11.3 million in cash on acquisition date and issued 3,487,528 shares of newly issued Company common stock (&#x201c;Consideration Shares&#x201d;) with an acquisition date fair value of $6.0 million.<font style="color: red"> </font>In addition to the acquisition date cash purchase price, the sellers were paid an additional $2.5 million in the form of deferred purchase price installments beginning in March 2017 through January 2019 and were paid an additional purchase price adjustment based on working capital and cash levels of $1.4 million. Lastly, the sellers earned $1.5 million in contingent consideration as a result of meeting certain financial targets for the year ended December 31, 2018. The contingent consideration was paid in March 2019. Approximately $0.7 million of the contingent consideration payment is classified as cash used by operating activities in the consolidated statement of cash flows for the first quarter 2019 and approximately $0.8 million is classified as cash used for financing activities in the consolidated statement of cash flows for the first quarter 2019 in accordance with ASU 2016-15 <i>Classification of Certain Cash Receipts and Cash Payments </i>(&#x201c;ASU 2016-15&#x201d;). Under ASU 2016-15 the portion of the cash payment up to the acquisition date fair value of the contingent consideration liability (including measurement period adjustments) is classified as a financing outflow, and the amounts paid in excess of the acquisition date fair value of that liability will be classified as operating outflows.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Pursuant to the Share Purchase Agreement, 2,092,516 of the Consideration Shares were subject to forfeiture and return to the Company if (a) 2017 Adjusted EBITDA, as defined, generated by CommAgility was less than &#xa3;2.4 million; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility was less than &#xa3;2.4 million (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). In March 2018 all consideration shares which are valued at $3.6 million were forfeited as the 2017 EBITDA threshold was not achieved. The forfeited shares are recorded as treasury stock in the consolidated statement of shareholders&#x2019; equity as of March 31, 2019 and December 31, 2018.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The total purchase price for the CommAgility acquisition, including the final contingent consideration payment, is $14.6 million which is net of cash acquired. There are no further purchase price obligations under the Stock Purchase Agreement as of March 31, 2019.</p><br/> 2017-02-17 11300000 3487528 6000000 2500000 1400000 1500000 700000 800000 2092516 (a) 2017 Adjusted EBITDA, as defined,generated by CommAgility was less than &#xa3;2.4 million; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility wasless than &#xa3;2.4 million (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 2400000 3600000 14600000 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 6 &#x2013; Income Taxes</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company records deferred taxes in accordance with ASC 740, &#x201c;<i>Accounting for Income Taxes</i>.&#x201d; 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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Realization of the Company&#x2019;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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><font style="font-weight: normal">As of March 31, 2019 the Company&#x2019;s deferred tax asset of $5.1 million is net of a valuation allowance of $6.7 million which is associated with the Company&#x2019;s foreign net operating loss carryforward from an inactive foreign entity, state net operating loss carryforward and a state research and development credit. </font></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt"><font style="font-weight: normal">The effective rate of income tax benefit of 28.6% for the three months ended March 31, 2019 was higher than the statutory rates in the United States and United Kingdom primarily due to the impact of global intangible low-taxed income or &#x201c;GILTI&#x201d; related to our controlled foreign corporation offset by research and development deductions in the UK.</font></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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.</p><br/> 5100000 6700000 0.286 0.13 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 7 &#x2013; Earnings (Loss) Per Share</p><br/><p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated by dividing net 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, unvested restricted shares and the weighted-average number of restricted stock units outstanding for the period. Shares from stock options are included in the diluted earnings per share calculation only when options exercise prices are lower than the average market value of the common shares for the period presented.</font><font style="font-size: 10pt"> </font><font style="font: 10pt Arial, Helvetica, Sans-Serif">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, &#x201c;Earnings Per Share&#x201d;, the following table reconciles basic shares outstanding to fully diluted shares outstanding.</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="6" style="color: black; font-weight: bold; text-align: center">For the Three Months</td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="6" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid">Ended March 31,</td><td style="padding-bottom: 1px; color: black; font-weight: bold; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center"><font style="text-decoration:underline">2019</font></td><td style="color: black; font-weight: bold">&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center"><font style="text-decoration:underline">2018</font></td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 66%; color: black">Weighted average common shares outstanding</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 12%; color: black; text-align: right">20,972,612</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 12%; color: black; text-align: right">20,644,409</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px">Potentially dilutive equity awards</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">708,736</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">988,708</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 3px">Weighted average common shares outstanding, assuming dilution</td><td style="color: black; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; color: black; text-align: right">21,681,348</td><td style="padding-bottom: 3px; color: black; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; color: black; text-align: right">21,633,117</td><td style="padding-bottom: 3px; color: black; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> </table><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">For the three months ended March 31, 2019 the weighted-average number of options to purchase common stock not included in diluted loss per share because the effects are anti-dilutive or the performance condition was not met was 405,000.</p><br/> 405000 In accordance with ASC 260, &#x201c;Earnings Per Share&#x201d;, the following table reconciles basic shares outstanding to fully diluted shares outstanding.<br /><br /><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="6" style="color: black; font-weight: bold; text-align: center">For the Three Months</td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="6" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid">Ended March 31,</td><td style="padding-bottom: 1px; color: black; font-weight: bold; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center"><font style="text-decoration:underline">2019</font></td><td style="color: black; font-weight: bold">&#xa0;</td><td style="color: black; font-weight: bold">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center"><font style="text-decoration:underline">2018</font></td><td style="color: black; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 66%; color: black">Weighted average common shares outstanding</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 12%; color: black; text-align: right">20,972,612</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 3%; color: black">&#xa0;</td> <td style="width: 1%; color: black; text-align: left">&#xa0;</td><td style="width: 12%; color: black; text-align: right">20,644,409</td><td style="width: 1%; color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px">Potentially dilutive equity awards</td><td style="color: black; padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">708,736</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding-bottom: 1px; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right">988,708</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td><td style="color: black">&#xa0;</td> <td style="color: black; text-align: left">&#xa0;</td><td style="color: black; text-align: right">&#xa0;</td><td style="color: black; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; padding-bottom: 3px">Weighted average common shares outstanding, assuming dilution</td><td style="color: black; padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; color: black; text-align: right">21,681,348</td><td style="padding-bottom: 3px; color: black; text-align: left; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; padding-bottom: 3px; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; color: black; text-align: right">21,633,117</td><td style="padding-bottom: 3px; color: black; text-align: left; border-bottom: Black 3px double">&#xa0;</td></tr> </table> 20972612 20644409 708736 988708 21681348 21633117 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 8 &#x2013; Inventories</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Inventory carrying value is net of inventory reserves of $1.8 million and $1.9 million at March 31, 2019 and December 31, 2018, respectively.</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Inventories consist of (in thousands):</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">March 31,</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">December 31,</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; font-weight: bold; padding: 0 0 1px; text-indent: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">2019</td><td style="padding: 0 0 1px; color: black; font-weight: bold; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; font-weight: bold; padding: 0 0 1px; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">2018</td><td style="padding: 0 0 1px; color: black; font-weight: bold; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 63%; color: black; text-align: left; text-indent: 0; padding-left: 10pt; padding-top: 0; padding-right: 0">Raw materials</td><td style="width: 3%; color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 12%; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,998</td><td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="width: 3%; color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 15%; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,248</td><td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-indent: 0; padding-left: 10pt; padding-top: 0; padding-right: 0">Work-in-process</td><td style="color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">592</td><td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">557</td><td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding: 0 0 1px 10pt; text-indent: 0">Finished goods</td><td style="color: black; padding: 0 0 1px; text-indent: 0">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,173</td><td style="padding: 0 0 1px; color: black; text-align: left; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding: 0 0 1px; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,079</td><td style="padding: 0 0 1px; color: black; text-align: left; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding: 0 0 3px; text-indent: 0">&#xa0;</td><td style="color: black; padding: 0 0 3px; text-indent: 0">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 3px double; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">7,763</td><td style="padding: 0 0 3px; color: black; text-align: left; text-indent: 0; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; padding: 0 0 3px; text-indent: 0; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 3px double; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">6,884</td><td style="padding: 0 0 3px; color: black; text-align: left; text-indent: 0; border-bottom: Black 3px double">&#xa0;</td></tr> </table><br/> Inventories consist of (in thousands)<br /><br /><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Inventories consist of (in thousands):</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">March 31,</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">December 31,</td><td style="color: black; font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; font-weight: bold; padding: 0 0 1px; text-indent: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">2019</td><td style="padding: 0 0 1px; color: black; font-weight: bold; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; font-weight: bold; padding: 0 0 1px; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; border-bottom: Black 1px solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">2018</td><td style="padding: 0 0 1px; color: black; font-weight: bold; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 63%; color: black; text-align: left; text-indent: 0; padding-left: 10pt; padding-top: 0; padding-right: 0">Raw materials</td><td style="width: 3%; color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 12%; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,998</td><td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="width: 3%; color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 15%; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,248</td><td style="width: 1%; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-indent: 0; padding-left: 10pt; padding-top: 0; padding-right: 0">Work-in-process</td><td style="color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">592</td><td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td> <td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">557</td><td style="color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding: 0 0 1px 10pt; text-indent: 0">Finished goods</td><td style="color: black; padding: 0 0 1px; text-indent: 0">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,173</td><td style="padding: 0 0 1px; color: black; text-align: left; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td><td style="color: black; padding: 0 0 1px; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,079</td><td style="padding: 0 0 1px; color: black; text-align: left; text-indent: 0; border-bottom: Black 1px solid">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding: 0 0 3px; text-indent: 0">&#xa0;</td><td style="color: black; padding: 0 0 3px; text-indent: 0">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 3px double; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">7,763</td><td style="padding: 0 0 3px; color: black; text-align: left; text-indent: 0; border-bottom: Black 3px double">&#xa0;</td><td style="color: black; padding: 0 0 3px; text-indent: 0; border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; color: black; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 3px double; color: black; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">6,884</td><td style="padding: 0 0 3px; color: black; text-align: left; text-indent: 0; border-bottom: Black 3px double">&#xa0;</td></tr> </table> 3998000 3248000 592000 557000 3173000 3079000 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 9 &#x2013; Debt</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Debt consists of the following (in thousands):</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-left: 0">&#xa0;</td><td style="color: black; font-weight: bold; padding-left: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; padding-left: 0">March 31, 2019</td><td style="color: black; font-weight: bold; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 75%; color: black; text-align: left; padding-left: 0">Revolver at LIBOR Plus Margin</td><td style="width: 3%; color: black; padding-left: 0">&#xa0;</td> <td style="width: 1%; color: black; text-align: left; padding-left: 0">$</td><td style="width: 20%; color: black; text-align: right; padding-left: 0">3,595</td><td style="width: 1%; color: black; text-align: left; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 0">Term Loan at LIBOR Plus Margin</td><td style="color: black; padding-bottom: 1px; padding-left: 0">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-left: 0">456</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-left: 0">Total Debt</td><td style="color: black; padding-left: 0">&#xa0;</td> <td style="color: black; text-align: left; padding-left: 0">&#xa0;</td><td style="color: black; text-align: right; padding-left: 0">4,051</td><td style="color: black; text-align: left; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 0">Debt maturing within one year</td><td style="padding-bottom: 1px; padding-left: 0">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left; padding-left: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right; padding-left: 0">(4,051)</td><td style="border-bottom: Black 1px solid; text-align: left; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 0">Non-current portion of long term debt</td><td style="color: black; padding-bottom: 2px; padding-left: 0">&#xa0;</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">-</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 2px solid; padding-left: 0">&#xa0;</td></tr> </table><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In connection with the acquisition of CommAgility, the Company entered into a Credit Agreement with Bank of America, N.A. (the &#x201c;Lender&#x201d;) on February 16, 2017 (the &#x201c;Credit Facility&#x201d;), which provided for a term loan in the aggregate principal amount of $0.8 million (the &#x201c;Term Loan&#x201d;) and an asset based revolving loan (the &#x201c;Revolver&#x201d;), which is subject to a Borrowing Base Calculation (as defined in the Credit Facility), of up to a maximum availability of $9.0 million (&#x201c;Revolver Commitment Amount&#x201d;). 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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In connection with the issuance of the Credit Facility, the Company<font style="color: red"> </font>paid lender and legal fees of $0.2 million 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 which approximates the effective interest method.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company must repay the Term Loan in installments of $38,000 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 Term Loan and Revolver were both scheduled to mature on November 16, 2019. On February 26, 2019, the Company entered into Amendment No. 3 to the Credit Facility which extends the termination date of the Revolver from November 16, 2019 to March 31, 2020.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Term and Revolver Loans bear interest at the LIBOR rate plus a margin. The margin on the outstanding balance of the Company&#x2019;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&#x2019; fiscal quarters based upon the Fixed Charge Coverage Ratio (as defined in the Credit Facility) as of the most recently ended fiscal quarter falling into one of three levels. If the Company&#x2019;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 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 Credit Facility or (b) 1% of the Revolver Commitment Amount and Term Loan if termination occurs after the first anniversary of the Credit Facility but before the second anniversary of the Credit Facility. The Company&#x2019;s interest rate plus margin as of March 31, 2019 on the Credit Facility was 5.25% and 5.75% for the Revolver and Term Loan, respectively. The Company&#x2019;s interest rate plus margin as of December 31, 2018 on the Credit Facility was 5.38% and 5.88% for the Revolver and Term Loan, respectively.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Credit Facility is secured by liens on substantially all of the Company&#x2019;s and its domestic subsidiaries&#x2019; assets including a pledge of 66.33% of the equity interests in the Company&#x2019;s Foreign Subsidiaries (as defined in the Credit Facility). The 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 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 in the Credit Facility) or occurrence of conditions that have a Material Adverse Effect (as defined in the Credit Facility).</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">As of March 31, 2019, and the date hereof, the Company is in compliance with the covenants of the Credit Facility.</p><br/> 800000 9000000 0.85 200000 38000 2017-04-01 2019-11-16 2019-11-16 2020-03-31 0.0350 0.0300 If theCompany&#x2019;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 1.00 to 1.00 butless 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. 0.0325 0.0275 0.0350 0.0300 0.0375 0.0325 0.0050 0.02 0.01 0.0525 0.0575 0.0538 0.0588 The Credit Facility is securedby liens on substantially all of the Company&#x2019;s and its domestic subsidiaries&#x2019; assets including a pledge of 66.33%of the equity interests in the Company&#x2019;s Foreign Subsidiaries (as defined in the Credit Facility). 0.6633 Debt consists of the following (in thousands):<br /><br /><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-left: 0">&#xa0;</td><td style="color: black; font-weight: bold; padding-left: 0">&#xa0;</td> <td colspan="2" style="color: black; font-weight: bold; text-align: center; padding-left: 0">March 31, 2019</td><td style="color: black; font-weight: bold; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="width: 75%; color: black; text-align: left; padding-left: 0">Revolver at LIBOR Plus Margin</td><td style="width: 3%; color: black; padding-left: 0">&#xa0;</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">3,595</td><td style="width: 1%; color: black; text-align: left; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 0">Term Loan at LIBOR Plus Margin</td><td style="color: black; padding-bottom: 1px; padding-left: 0">&#xa0;</td> <td style="border-bottom: Black 1px solid; color: black; text-align: left; padding-left: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; color: black; text-align: right; padding-left: 0">456</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 1px solid; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-left: 0">Total Debt</td><td style="color: black; padding-left: 0">&#xa0;</td> <td style="color: black; text-align: left; padding-left: 0">&#xa0;</td><td style="color: black; text-align: right; padding-left: 0">4,051</td><td style="color: black; text-align: left; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 0">Debt maturing within one year</td><td style="padding-bottom: 1px; padding-left: 0">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left; padding-left: 0">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right; padding-left: 0">(4,051)</td><td style="border-bottom: Black 1px solid; text-align: left; padding-left: 0">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="color: black; text-align: left; padding-bottom: 1px; padding-left: 0">Non-current portion of long term debt</td><td style="color: black; padding-bottom: 2px; padding-left: 0">&#xa0;</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">-</td><td style="padding-bottom: 1px; color: black; text-align: left; border-bottom: Black 2px solid; padding-left: 0">&#xa0;</td></tr> </table> 3595000 456000 4051000 -4051000 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 10 - Accounting for Stock Based Compensation</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Company&#x2019;s results for the three month period ended March 31, 2019 includes $0.2 million related to stock based compensation expense. Such amounts have been included in the consolidated statement of operations and comprehensive income/(loss) within general and administrative expenses in operating expenses. The Company accounts for forfeitures when they occur.</p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Incentive Compensation Plan</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">In 2012, the Company&#x2019;s Board of Directors and shareholders approved the 2012 Incentive Compensation Plan (the &#x201c;Initial 2012 Plan&#x201d;), which provides for the grant of equity, including restricted stock awards, restricted stock units, 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&#x2019;s future growth and success. When originally approved, the Initial 2012 Plan provided for the grant of awards relating to 2 million shares of common stock, plus those shares subject to awards previously issued under the Company&#x2019;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&#x2019;s shareholders approved the Amended and Restated 2012 Incentive Compensation Plan (the &#x201c;2012 Plan&#x201d;) allowing for an additional 1.6 million shares of the Company&#x2019;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, 2019, there are approximately 1.7 million shares available for issuance under the 2012 Plan.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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&#x2019;s compensation committee of the Board of Directors. Under the 2012 Plan, options may be granted to purchase shares of the Company&#x2019;s common stock exercisable only at prices equal to or above the fair market value on the date of the grant.</p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Restricted Common Stock Awards</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><font style="font-weight: normal">On January 11, 2019 the Company granted 95,000 restricted stock awards to employees under the 2012 Plan. The awards vest in equal annual installments over a three year period or upon a change in control, as defined in the 2012 Plan, as long as the grantee continues to provide service to the Company until the applicable vesting date. The grant date fair value of the restricted stock awards was $1.56 per share.</font></p><br/><p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Service-Based Stock Option Awards</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">On January 11, 2019 the Company granted 15,000 incentive stock options. The stock options vest in equal annual installments over a three year period or upon a change in control, as defined in the 2012 Plan, as long as the grantee continues to provide service to the Company until the applicable vesting date. The following table presents the assumptions used to estimate the fair value of the stock option award granted in the first quarter of 2019 under the Black Scholes model:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Number of<br /> Options</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Option <br /> Term<br /> (in&#xa0;years)</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Exercise <br /> Price</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Risk Free <br /> Interest <br /> Rate</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Expected <br /> Volatility</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Fair Value <br /> at Grant <br /> Date</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Expected <br /> Dividend <br /> Yield</td></tr> <tr style="vertical-align: bottom"> <td style="width: 26%">January 11, 2019</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">15,000</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">3</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">$1.56</td><td style="width: 2%">&#xa0;</td> <td style="width: 10%; text-align: right">2.52%</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">49.80%</td><td style="width: 2%">&#xa0;</td> <td style="width: 10%; text-align: right">$0.56</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">$0.00</td></tr> </table><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><b>Outstanding Stock Options and Unvested Restricted Awards</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">As of March 31, 2019 there were 1,950,000 service based stock options outstanding and 305,000 performance based stock options outstanding. The range of exercise prices of outstanding stock options is $0.78 to $1.92. The number of potentially dilutive common shares from stock options (options with exercise prices that are lower than the average market value of common shares for the period presented) is 266,653 as of March 31, 2019 and have an average exercise price of $1.48 per share.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Additionally, as of March 31, 2019, there were 327,123 unvested restricted shares and 125,000 unvested restricted stock units outstanding.</p><br/> 2000000 1600000 1700000 P10Y P5Y P10Y 95000 P3Y 1.56 15000 P3Y 1950000 305000 0.78 1.92 266653 1.48 327123 125000 The following table presents the assumptions used to estimate the fair value of the stock option award granted in the first quarter of 2019 under the Black Scholes model:<br /><br /><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Number of<br /> Options</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Option <br /> Term<br /> (in&#xa0;years)</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Exercise <br /> Price</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Risk Free <br /> Interest <br /> Rate</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Expected <br /> Volatility</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Fair Value <br /> at Grant <br /> Date</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: center">Expected <br /> Dividend <br /> Yield</td></tr> <tr style="vertical-align: bottom"> <td style="width: 26%">January 11, 2019</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">15,000</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">3</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">$1.56</td><td style="width: 2%">&#xa0;</td> <td style="width: 10%; text-align: right">2.52%</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">49.80%</td><td style="width: 2%">&#xa0;</td> <td style="width: 10%; text-align: right">$0.56</td><td style="width: 2%">&#xa0;</td> <td style="width: 8%; text-align: right">$0.00</td></tr> </table> 15000 P3Y 1.56 0.0252 0.4980 0.56 0.0000 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 12 &#x2013; SEGMENT INFORMATION</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The operating businesses of the Company are segregated into three reportable segments: (i) Network Solutions, (ii) Test and Measurement and (iii) Embedded Solutions.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><b>Network Solutions</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Network Solutions segment is comprised primarily of the operations of the Company&#x2019;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, distributed antenna systems (&#x201c;DAS&#x201d;), 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 customers include telecommunications service providers, systems integrators, neutral host operators and distributors.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><b>Test and Measurement</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Test and Measurement segment is comprised primarily of the Company&#x2019;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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify"><b>Embedded Solutions</b></p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Embedded Solutions segment is comprised of the operations of CommAgility. 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.</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">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).</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Financial information by reportable segment for the respective periods is set forth below (in thousands):</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1px">&#xa0;</td> <td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="7" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">For the three months ended March 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1px">&#xa0;</td> <td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px"><font style="text-decoration:underline">2019</font></td><td style="padding-bottom: 1px; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px"><font style="text-decoration:underline">2018</font></td><td style="padding-bottom: 1px; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Net revenue by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 62%; text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td style="width: 1%">&#xa0;</td><td style="width: 2%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">5,758</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 5%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">5,511</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,030</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,763</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">4,244</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">3,990</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 3px">Total consolidated net revenue of reportable segments</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; text-align: right">13,032</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; text-align: right">13,264</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Segment income (loss):</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">707</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">813</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">235</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">510</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(67)</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">611</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Income (loss) from reportable segments</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">875</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,934</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Other unallocated amounts:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Corporate expenses</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,272)</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,365)</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 1px">Other (expenses) income - net</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(85)</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(139)</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 3px">Consolidated income/(loss) before Income tax provision/(benefit)</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">(482)</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">430</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Depreciation and amortization by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">123</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">136</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">115</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">175</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">311</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">315</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 3px">Total depreciation and amortization for reportable segments</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">549</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">626</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Capital expenditures by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">28</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">78</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">59</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">102</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">41</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">19</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 3px">Total consolidated capital expenditures by reportable segment</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">128</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">199</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1px">&#xa0;</td> <td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: left"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>March 31,<br /> 2019</b></p> </td><td style="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: left"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>December&#xa0;31,<br /> 2018</b></p> </td><td style="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Total assets by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 60%; text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td style="width: 12%">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">11,078</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 3%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">10,088</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,304</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,943</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">18,630</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">16,804</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Total assets for reportable segments</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">38,012</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,835</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="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">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">9,077</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">11,332</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 3px">Total consolidated assets</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">47,089</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">44,167</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> </table><br/> Financial information by reportable segment for the respective periods is set forth below (in thousands):<br /><br /><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1px">&#xa0;</td> <td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px; font-weight: bold; text-align: center">&#xa0;</td> <td colspan="7" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">For the three months ended March 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1px">&#xa0;</td> <td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px"><font style="text-decoration:underline">2019</font></td><td style="padding-bottom: 1px; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1px"><font style="text-decoration:underline">2018</font></td><td style="padding-bottom: 1px; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Net revenue by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 62%; text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td style="width: 1%">&#xa0;</td><td style="width: 2%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">5,758</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 5%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">5,511</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,030</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,763</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">4,244</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">3,990</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 3px">Total consolidated net revenue of reportable segments</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; text-align: right">13,032</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double; text-align: right">13,264</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Segment income (loss):</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">707</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">813</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">235</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">510</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(67)</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">611</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Income (loss) from reportable segments</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">875</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,934</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Other unallocated amounts:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Corporate expenses</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,272)</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,365)</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 1px">Other (expenses) income - net</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(85)</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">(139)</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 3px">Consolidated income/(loss) before Income tax provision/(benefit)</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">(482)</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">430</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Depreciation and amortization by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">123</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">136</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">115</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">175</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">311</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">315</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 3px">Total depreciation and amortization for reportable segments</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">549</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">626</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Capital expenditures by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">28</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">78</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">59</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">102</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">41</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">19</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 3px">Total consolidated capital expenditures by reportable segment</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">128</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">199</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> </table> 707000 813000 235000 510000 -67000 611000 875000 1934000 -1272000 -1365000 -85000 -139000 123000 136000 115000 175000 311000 315000 28000 78000 59000 102000 41000 19000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 36pt"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1px">&#xa0;</td> <td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1px">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: left"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>March 31,<br /> 2019</b></p> </td><td style="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: left"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>December&#xa0;31,<br /> 2018</b></p> </td><td style="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Total assets by segment:</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 60%; text-align: left; text-indent: -10pt; padding-left: 30pt">Network Solutions</td> <td style="width: 12%">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">11,078</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 3%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">10,088</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Test and Measurement</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,304</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,943</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 30pt">Embedded Solutions</td> <td style="padding-bottom: 1px">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">18,630</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">16,804</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left">Total assets for reportable segments</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">38,012</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,835</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt">&#xa0;</td> <td style="font-size: 10pt; text-align: left">&#xa0;</td><td style="font-size: 10pt; text-align: right">&#xa0;</td><td style="font-size: 10pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="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">&#xa0;</td><td style="padding-bottom: 1px">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">9,077</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid">&#xa0;</td> <td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1px solid; text-align: right">11,332</td><td style="border-bottom: Black 1px solid; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(229,255,255)"> <td style="text-align: left; padding-bottom: 3px">Total consolidated assets</td> <td style="padding-bottom: 3px">&#xa0;</td><td style="padding-bottom: 3px">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">47,089</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td><td style="border-bottom: Black 3px double">&#xa0;</td> <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">44,167</td><td style="border-bottom: Black 3px double; text-align: left">&#xa0;</td></tr> </table> 11078000 10088000 8304000 5943000 18630000 16804000 38012000 32835000 9077000 11332000 <p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTE 13 &#x2013; COMMITMENTS AND CONTINGENCIES</p><br/><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 36pt">There have been no material changes in our commitments and contingencies and risks and uncertainties as of March 31, 2019 from that previously disclosed in our annual report on Form 10-K for the year ended December 31, 2018.</p><br/> EX-101.SCH 8 wtt-20190331.xsd 001 - Statement - CONSOLIDATED BALANCE SHEETS link:presentationLink link:definitionLink link:calculationLink 002 - Statement - CONSOLIDATED BALANCE SHEETS (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) link:presentationLink link:definitionLink link:calculationLink 004 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:definitionLink link:calculationLink 005 - Statement - CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY link:presentationLink link:definitionLink link:calculationLink 006 - Disclosure - Summary of Significant Accounting Principles and Policies link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Accounting Pronouncements link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Leases link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Revenue link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Acquisition of CommAgility link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Income Taxes link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Earnings (Loss) Per Share link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Inventories link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Debt link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Accounting for Stock Based Compensation link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - SEGMENT INFORMATION link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Accounting Policies, by Policy (Policies) link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Leases (Tables) link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Revenue (Tables) link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Earnings (Loss) Per Share (Tables) link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Inventories (Tables) link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Debt (Tables) link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Accounting for Stock Based Compensation (Tables) link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - SEGMENT INFORMATION (Tables) link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Summary of Significant Accounting Principles and Policies (Details) link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Accounting Pronouncements (Details) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Leases (Details) link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Leases (Details) - Schedule of amount and maturity of operating lease liability link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Revenue (Details) link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Revenue (Details) - Schedule of Disaggregated Revenue link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Acquisition of CommAgility (Details) link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Income Taxes (Details) link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Earnings (Loss) Per Share (Details) link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Earnings (Loss) Per Share (Details) - Schedule of weighted average number of shares link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Inventories (Details) link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - Inventories (Details) - Schedule of Inventory, Current link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Debt (Details) link:presentationLink link:definitionLink link:calculationLink 039 - Disclosure - Debt (Details) - Schedule of Debt link:presentationLink link:definitionLink link:calculationLink 040 - Disclosure - Accounting for Stock Based Compensation (Details) link:presentationLink link:definitionLink link:calculationLink 041 - Disclosure - Accounting for Stock Based Compensation (Details) - Schedule of assumptions used to estimate the fair value of stock option awards granted link:presentationLink link:definitionLink link:calculationLink 042 - Disclosure - SEGMENT INFORMATION (Details) link:presentationLink link:definitionLink link:calculationLink 043 - Disclosure - SEGMENT INFORMATION (Details) - Schedule of segment reporting financial information link:presentationLink link:definitionLink link:calculationLink 044 - Disclosure - SEGMENT INFORMATION (Details) - Schedule of segment reporting information total assets by segment link:presentationLink link:definitionLink link:calculationLink 000 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 9 wtt-20190331_cal.xml EX-101.DEF 10 wtt-20190331_def.xml EX-101.LAB 11 wtt-20190331_lab.xml EX-101.PRE 12 wtt-20190331_pre.xml XML 13 R1.htm IDEA: XBRL DOCUMENT v3.19.1
Document And Entity Information - shares
3 Months Ended
Mar. 31, 2019
Apr. 22, 2019
Document and Entity Information [Abstract]    
Entity Registrant Name WIRELESS TELECOM GROUP INC  
Trading Symbol wtt  
Document Type 10-Q  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   21,300,252
Amendment Flag false  
Entity Central Index Key 0000878828  
Entity Filer Category Non-accelerated Filer  
Document Period End Date Mar. 31, 2019  
Document Fiscal Year Focus 2019  
Document Fiscal Period Focus Q1  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Ex Transition Period false  
XML 14 R2.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash & Cash Equivalents $ 2,457 $ 5,015
Accounts Receivable - net of reserves of $62 and $44, respectively 12,129 8,638
Inventories - net of reserves of $1,830 and $1,910, respectively 7,763 6,884
Prepaid Expenses and Other Current Assets 1,017 1,689
TOTAL CURRENT ASSETS 23,366 22,226
PROPERTY PLANT AND EQUIPMENT - NET 2,517 2,578
OTHER ASSETS    
Goodwill 9,950 9,778
Acquired Intangible Assets, net 3,001 3,206
Deferred Income Taxes 5,751 5,592
Right Of Use Lease Asset 1,766  
Other Assets 738 787
TOTAL OTHER ASSETS 21,206 19,363
TOTAL ASSETS 47,089 44,167
CURRENT LIABILITIES    
Short Term Debt 4,051 2,016
Accounts Payable 5,215 3,252
Short Term Lease Liability 423  
Accrued Expenses and Other Current Liabilities 2,967 6,083
Deferred Revenue 207 103
TOTAL CURRENT LIABILITIES 12,863 11,454
LONG TERM LIABILITIES    
Long Term Lease Liability 1,350  
Other Long Term Liabilities 96 115
Deferred Tax Liability 628 616
TOTAL LONG TERM LIABILITIES 2,074 731
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, 34,488,252 and 34,393,252 shares issued, 21,300,252 and 21,205,251 shares outstanding 345 344
Additional Paid in Capital 48,687 48,479
Retained Earnings 7,212 7,556
Treasury Stock at Cost, 13,188,601 and 13,188,601 shares, respectively (24,509) (24,509)
Accumulated Other Comprehensive Income 417 112
TOTAL SHAREHOLDERS’ EQUITY 32,152 31,982
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 47,089 $ 44,167
XML 15 R3.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Accounts receivable, net of reserves (in Dollars) $ 62 $ 44
Inventories, net of reserves (in Dollars) $ 1,830 $ 1,910
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 34,488,252 34,393,252
Common stock, shares outstanding 21,300,252 21,205,251
Treasury stock, shares 13,188,601 13,188,601
XML 16 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
NET REVENUES $ 13,032 $ 13,264
COST OF REVENUES 7,305 6,996
GROSS PROFIT 5,727 6,268
Operating Expenses    
Research and Development 1,714 1,157
Sales and Marketing 1,937 1,910
General and Administrative 2,474 2,633
Total Operating Expenses 6,125 5,700
Operating Income/(Loss) (398) 568
Other Income/(Expense) 31 (46)
Interest Expense (115) (92)
Income/(Loss) before taxes (482) 430
Tax Provision/(Benefit) (138) 56
Net Income/(Loss) (344) 374
Other Comprehensive Income/(Loss):    
Foreign Currency Translation Adjustments 305 579
Comprehensive Income/(Loss) $ (39) $ 953
Earnings/(Loss) Per Share:    
Basic (in Dollars per share) $ (0.02) $ 0.02
Diluted (in Dollars per share) $ (0.02) $ 0.02
Weighted Average Shares Outstanding:    
Basic (in Shares) 20,973 20,644
Diluted (in Shares) 20,973 21,633
XML 17 R5.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS USED BY OPERATING ACTIVITIES    
Net Income/(Loss) $ (344) $ 374
Adjustments to reconcile net income/(loss) to net cash used by operating activities:    
Depreciation and Amortization 549 626
Amortization of Debt Issuance Fees 16 19
Share-based Compensation Expense 209 188
Deferred Rent (6) 5
Deferred Income Taxes (159) 37
Provision for Doubtful Accounts 18 (1)
Inventory Reserves 47 19
Changes in Assets and Liabilities:    
Accounts Receivable (3,456) (1,574)
Inventories (916) (524)
Prepaid Expenses and Other Assets 792 (507)
Accounts Payable 1,888 (255)
Payment of Contingent Consideration (772)  
Accrued Expenses and Other Liabilities (1,235) 635
Net Cash Used by Operating Activities (3,369) (958)
CASH FLOWS USED BY INVESTING ACTIVITIES    
Capital Expenditures (128) (199)
Acquisition of Business (426) (811)
Net Cash Used by Investing Activities (554) (1,010)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES    
Revolver Borrowings 9,788 10,603
Revolver Repayments (7,715) (9,191)
Term Loan Repayments (38) (38)
Payment of Contingent Consideration (782)  
Proceeds from Exercise of Stock Options   288
Net Cash Provided by Financing Activities 1,253 1,662
Effect of Exchange Rate Changes on Cash and Cash Equivalents 112 88
NET DECREASE IN CASH AND CASH EQUIVALENTS (2,558) (218)
Cash and Cash Equivalents, at Beginning of Period 5,015 2,458
CASH AND CASH EQUIVALENTS, AT END OF PERIOD 2,457 2,240
SUPPLEMENTAL INFORMATION:    
Cash Paid During the Period for Interest 41 36
Cash Paid During the Period for Income Taxes $ 26 $ 9
XML 18 R6.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY - 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 (in Shares) at Dec. 31, 2017 33,868,252          
Adoption of Accounting Standard at Dec. 31, 2017     345     345
Adjusted Opening Equity at Dec. 31, 2017 $ 339 47,494 7,521 (20,910) 1,004 35,448
Adjusted Opening Equity (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 7,895 (24,509) 1,583 33,278
Balances (in Shares) at Mar. 31, 2018 34,168,252          
Balances at Dec. 31, 2018 $ 344 48,479 7,556 (24,509) 112 $ 31,982
Balances (in Shares) at Dec. 31, 2018 34,393,252         34,393,252
Net Income/(Loss)     (344)     $ (344)
Issuance of Restricted Stock $ 1 (1)        
Issuance of Restricted Stock (in Shares) 95,000          
Share-based Compensation Expense   209       209
Cumulative Translation Adjustment         305 305
Balances at Mar. 31, 2019 $ 345 $ 48,687 $ 7,212 $ (24,509) $ 417 $ 32,152
Balances (in Shares) at Mar. 31, 2019 34,488,252         34,488,252
XML 19 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Summary of Significant Accounting Principles and Policies
3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]

NOTE 1 - Summary of Significant Accounting Principles and Policies


Basis of Presentation and Preparation


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”) splitters and 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 consolidated balance sheet as of March 31, 2019, the consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2019 and 2018, the consolidated statements of cash flows for the three months ended March 31, 2019 and 2018 and the consolidated statement of shareholders’ equity for the three months ended March 31, 2019 and 2018 have been prepared by the Company without audit. The 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 LLC (“Microlab”), Wireless Telecommunications Ltd. and CommAgility Limited (“CommAgility”). All intercompany transactions and balances have been eliminated in consolidation.


The Company presents its operations in three reportable segments: (1) Network Solutions, (2) Test and Measurement and (3) Embedded Solutions. The Network Solutions segment is comprised of the operations of Microlab. The Test and Measurement segment is comprised of the operations of Boonton and Noisecom. The Embedded Solutions segment is comprised of the operations of CommAgility.


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


The Company’s fiscal periods are based on the calendar year. Except as otherwise specified, references to “first quarter(s)” or “three months” indicate the Company’s fiscal periods ending March 31, 2019 and March 31, 2018, and references to “year-end” indicate the fiscal year ended December 31, 2018.


Consolidated Financial Statements


In the opinion of management, the accompanying 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 consolidated financial statements included in its annual report on Form 10-K for the year ended December 31, 2018. 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 months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year ending December 31, 2019.


Reclassification


Certain prior period amounts have been reclassified to conform with the current period presentation.


Concentration Risk


Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The majority of the Company’s cash balance is held outside of the United States.


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, 2019 and 2018, one customer accounted for approximately 31% and 16% of the Company’s consolidated revenues, respectively. At March 31, 2019 and 2018, one customer accounted for 40% and 23% of consolidated gross accounts receivable, respectively.


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, and the notes thereto, through the date the financial statements were issued.


XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Accounting Pronouncements
3 Months Ended
Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]  
Accounting Changes and Error Corrections [Text Block]

NOTE 2 – Accounting Pronouncements


Recently Adopted Accounting Standards


In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), which created 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 Company adopted the requirements of the new standard effective January 1, 2019 using the modified retrospective transition method, which applies the provisions of the standard at the effective date without adjustment to the comparative periods presented. The Company adopted the following practical expedients and elected the following accounting policies related to this standard:


·Carry forward of historical lease classifications and accounting treatment;

·Short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less; and

·The option to not separate lease and non-lease components for certain equipment lease categories such as office printers and copiers.

Adoption of this standard resulted in the recognition of operating lease right-of-use assets and corresponding lease liabilities of $1.9 million on the consolidated balance sheet as of January 1, 2019. The standard did not materially impact operating results or liquidity. Disclosures related to the amount, timing and uncertainty of cash flows arising from leases are included in Note 3.


On June 20, 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 is intended to reduce cost and complexity and to improve financial reporting for share-based payments issued to nonemployees. This ASU expands the scope of ASC Topic 718, Compensation - Stock Compensation, which currently only includes share-based payments issued to employees, to also include share-based payments issued to nonemployees for goods and services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. ASU 2018-07 supersedes ASC Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Company adopted this standard on January 1, 2019 and it did not have a material impact on our financial statements.


Except for the change in accounting policies for leases as a result of adopting Topic 842, there have been no other changes to our significant accounting policies as described in the 2018 Form 10-K that had a material impact on our consolidated financial statements and related notes.


Recent Accounting Pronouncements Not Yet Adopted


In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). ASU 2016-13 changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured as amortized cost. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. The Company plans to adopt the standard effective January 1, 2020. We are currently in the process of evaluating the effects of this pronouncement on our consolidated financial statements.


In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820). ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. We are currently in the process of evaluating the effects of this pronouncement on our consolidated financial statements.


XML 21 R9.htm IDEA: XBRL DOCUMENT v3.19.1
Leases
3 Months Ended
Mar. 31, 2019
Disclosure Text Block [Abstract]  
Leases of Lessee Disclosure [Text Block]

NOTE 3 – Leases


The Company’s lease agreements consist of building leases for its operating locations and office equipment leases for printers and copiers with lease terms that range from less than 12 months to 8 years. At inception, the Company determines if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. The Company’s leases for office equipment such as printers and copiers contain lease and non-lease components (i.e. maintenance). The Company accounts for lease and non-lease components of office equipment as a single lease component.


All of the Company’s leases are operating leases and are presented as right of use lease asset, short term lease liability and long term lease liability on the consolidated balance sheet as of March 31, 2019. These assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company’s incremental borrowing rate. Short-term leases, which have an initial term of 12 months or less, are not recorded on the balance sheet.


Lease expense is recognized on a straight-line basis over the lease term and is included in cost of revenues and general and administrative expenses on the consolidated statement of operations and comprehensive income/(loss).


An initial right-of-use asset of $1.9 million was recognized as a non-cash asset addition with the adoption of the new lease accounting standard. Subsequent to adoption of the new standard there were no new right-of-use assets recognized during the first quarter of 2019. Cash paid for amounts included in the present value of operating lease liabilities was $0.1 million during the first quarter of 2019 and is included in operating cash flows.


Operating lease costs were $0.1 million during the first quarter of 2019. Right of use assets in the amount of $1.8 million are included in the consolidated balance sheet as of March 31, 2019.


The following table presents information about the amount and timing of cash flows arising from the Company’s operating leases as of March 31, 2019.


(in thousands)  March 31, 2019
Maturity of Lease Liabilities     
2019 (remaining)  $383 
2020   511 
2021   474 
2022   488 
2023   123 
Thereafter   - 
Total Undiscounted Operating Lease Payments   1,979 
      
Less:  imputed interest   (206) 
Present Value of Operating Lease Liabilities   1,773 
      
Other information     
Weighted-average remaining lease term for operating leases (in months)   47 
Weighted-average discount rate for operating leases   5.70% 

XML 22 R10.htm IDEA: XBRL DOCUMENT v3.19.1
Revenue
3 Months Ended
Mar. 31, 2019
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]

NOTE 4 – 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 99% and 95% of the Company’s total revenue for the three months ended March 31, 2019 and 2018, respectively.


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.  


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, judgment is required to determine the standalone selling price for each distinct performance obligation.


Certain of the Company shipments include a limited return right. In those cases 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 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 were immaterial as of March 31, 2019 and $0.3 million as of December 31, 2018. Deferred revenue is $0.2 million and $0.1 million as of March 31, 2019 and December 31, 2018, respectively.


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 (in thousands).


   Three Months Ended March 31, 2019 
     
   Network
Solutions
   Test and
Measurement
   Embedded
Solutions
   Total 
Total Net Revenues by Revenue Type                   
Passive RF Components  $5,758   $-   $-   $5,758 
Noise Generators and Components   -    1,446    -    1,446 
Power Meters and Analyzers   -    1,308    -    1,308 
Signal Processing Hardware   -    -    4,058    4,058 
Software Licenses   -    -    3    3 
Services   -    276    183    459 
Total Net Revenue  $5,758   $3,030   $4,244   $13,032 
                     
Total Net Revenues by Geographic Areas               
Americas  $5,203   $1,804   $175   $7,182 
EMEA   501    549    4,061    5,111 
APAC   54    677    8    739 
Total Net Revenue  $5,758   $3,030   $4,244   $13,032 

    Three Months Ended March 31, 2018 
      
   Network
Solutions
   Test and
Measurement
   Embedded
Solutions
   Total 
Total Net Revenues by Revenue Type                   
Passive RF Components  $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               
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 

XML 23 R11.htm IDEA: XBRL DOCUMENT v3.19.1
Acquisition of CommAgility
3 Months Ended
Mar. 31, 2019
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 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 $11.3 million in cash on acquisition date and issued 3,487,528 shares of newly issued Company common stock (“Consideration Shares”) with an acquisition date fair value of $6.0 million. In addition to the acquisition date cash purchase price, the sellers were paid an additional $2.5 million in the form of deferred purchase price installments beginning in March 2017 through January 2019 and were paid an additional purchase price adjustment based on working capital and cash levels of $1.4 million. Lastly, the sellers earned $1.5 million in contingent consideration as a result of meeting certain financial targets for the year ended December 31, 2018. The contingent consideration was paid in March 2019. Approximately $0.7 million of the contingent consideration payment is classified as cash used by operating activities in the consolidated statement of cash flows for the first quarter 2019 and approximately $0.8 million is classified as cash used for financing activities in the consolidated statement of cash flows for the first quarter 2019 in accordance with ASU 2016-15 Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). Under ASU 2016-15 the portion of the cash payment up to the acquisition date fair value of the contingent consideration liability (including measurement period adjustments) is classified as a financing outflow, and the amounts paid in excess of the acquisition date fair value of that liability will be classified as operating outflows.


Pursuant to the Share Purchase Agreement, 2,092,516 of the Consideration Shares were subject to forfeiture and return to the Company if (a) 2017 Adjusted EBITDA, as defined, generated by CommAgility was less than £2.4 million; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility was less than £2.4 million (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). In March 2018 all consideration shares which are valued at $3.6 million were forfeited as the 2017 EBITDA threshold was not achieved. The forfeited shares are recorded as treasury stock in the consolidated statement of shareholders’ equity as of March 31, 2019 and December 31, 2018.


The total purchase price for the CommAgility acquisition, including the final contingent consideration payment, is $14.6 million which is net of cash acquired. There are no further purchase price obligations under the Stock Purchase Agreement as of March 31, 2019.


XML 24 R12.htm IDEA: XBRL DOCUMENT v3.19.1
Income Taxes
3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

NOTE 6 – Income Taxes


The Company records deferred taxes in accordance with 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.


As of March 31, 2019 the Company’s deferred tax asset of $5.1 million is net of a valuation allowance of $6.7 million which is associated with the Company’s foreign net operating loss carryforward from an inactive foreign entity, state net operating loss carryforward and a state research and development credit.


The effective rate of income tax benefit of 28.6% for the three months ended March 31, 2019 was higher than the statutory rates in the United States and United Kingdom primarily due to the impact of global intangible low-taxed income or “GILTI” related to our controlled foreign corporation offset by research and development deductions in the UK.


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.


XML 25 R13.htm IDEA: XBRL DOCUMENT v3.19.1
Earnings (Loss) Per Share
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

NOTE 7 – Earnings (Loss) Per Share


Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated by dividing net 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, unvested restricted shares and the weighted-average number of restricted stock units outstanding for the period. Shares from stock options are included in the diluted earnings per share calculation only when options exercise prices are lower than the average market value of the common shares for the period presented. 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, 
   2019   2018 
         
Weighted average common shares outstanding   20,972,612    20,644,409 
           
Potentially dilutive equity awards   708,736    988,708 
           
Weighted average common shares outstanding, assuming dilution   21,681,348    21,633,117 

For the three months ended March 31, 2019 the weighted-average number of options to purchase common stock not included in diluted loss per share because the effects are anti-dilutive or the performance condition was not met was 405,000.


XML 26 R14.htm IDEA: XBRL DOCUMENT v3.19.1
Inventories
3 Months Ended
Mar. 31, 2019
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

NOTE 8 – Inventories


Inventory carrying value is net of inventory reserves of $1.8 million and $1.9 million at March 31, 2019 and December 31, 2018, respectively.


Inventories consist of (in thousands):  March 31,   December 31, 
   2019   2018 
Raw materials  $3,998   $3,248 
Work-in-process   592    557 
Finished goods   3,173    3,079 
   $7,763   $6,884 

XML 27 R15.htm IDEA: XBRL DOCUMENT v3.19.1
Debt
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

NOTE 9 – Debt


Debt consists of the following (in thousands):


   March 31, 2019 
Revolver at LIBOR Plus Margin  $3,595 
Term Loan at LIBOR Plus Margin   456 
Total Debt   4,051 
Debt maturing within one year   (4,051) 
Non-current portion of long term debt  $- 

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 “Credit Facility”), which provided for a term loan in the aggregate principal amount of $0.8 million (the “Term Loan”) and an asset based revolving loan (the “Revolver”), which is subject to a Borrowing Base Calculation (as defined in the Credit Facility), of up to a maximum availability of $9.0 million (“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 Credit Facility, the Company paid lender and legal fees of $0.2 million 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 which approximates the effective interest method.


The Company must repay the Term Loan in installments of $38,000 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 Term Loan and Revolver were both scheduled to mature on November 16, 2019. On February 26, 2019, the Company entered into Amendment No. 3 to the Credit Facility which extends the termination date of the Revolver from November 16, 2019 to March 31, 2020.


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 Credit Facility) as of the most recently ended fiscal quarter falling into one of 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 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 Credit Facility or (b) 1% of the Revolver Commitment Amount and Term Loan if termination occurs after the first anniversary of the Credit Facility but before the second anniversary of the Credit Facility. The Company’s interest rate plus margin as of March 31, 2019 on the Credit Facility was 5.25% and 5.75% for the Revolver and Term Loan, respectively. The Company’s interest rate plus margin as of December 31, 2018 on the Credit Facility was 5.38% and 5.88% for the Revolver and Term Loan, respectively.


The Credit Facility is secured by liens on substantially all of the Company’s and its domestic subsidiaries’ assets including a pledge of 66.33% of the equity interests in the Company’s Foreign Subsidiaries (as defined in the Credit Facility). The 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 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 in the Credit Facility) or occurrence of conditions that have a Material Adverse Effect (as defined in the Credit Facility).


As of March 31, 2019, and the date hereof, the Company is in compliance with the covenants of the Credit Facility.


XML 28 R16.htm IDEA: XBRL DOCUMENT v3.19.1
Accounting for Stock Based Compensation
3 Months Ended
Mar. 31, 2019
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement [Text Block]

NOTE 10 - Accounting for Stock Based Compensation


The Company’s results for the three month period ended March 31, 2019 includes $0.2 million related to stock based compensation expense. Such amounts have been included in the consolidated statement of operations and comprehensive income/(loss) within general and administrative expenses in 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, restricted stock units, 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 million 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 1.6 million 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, 2019, there are approximately 1.7 million 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.


Restricted Common Stock Awards


On January 11, 2019 the Company granted 95,000 restricted stock awards to employees under the 2012 Plan. The awards vest in equal annual installments over a three year period or upon a change in control, as defined in the 2012 Plan, as long as the grantee continues to provide service to the Company until the applicable vesting date. The grant date fair value of the restricted stock awards was $1.56 per share.


Service-Based Stock Option Awards


On January 11, 2019 the Company granted 15,000 incentive stock options. The stock options vest in equal annual installments over a three year period or upon a change in control, as defined in the 2012 Plan, as long as the grantee continues to provide service to the Company until the applicable vesting date. The following table presents the assumptions used to estimate the fair value of the stock option award granted in the first quarter of 2019 under the Black Scholes model:


   Number of
Options
  Option
Term
(in years)
  Exercise
Price
  Risk Free
Interest
Rate
  Expected
Volatility
  Fair Value
at Grant
Date
  Expected
Dividend
Yield
January 11, 2019  15,000  3  $1.56  2.52%  49.80%  $0.56  $0.00

Outstanding Stock Options and Unvested Restricted Awards


As of March 31, 2019 there were 1,950,000 service based stock options outstanding and 305,000 performance based stock options outstanding. The range of exercise prices of outstanding stock options is $0.78 to $1.92. The number of potentially dilutive common shares from stock options (options with exercise prices that are lower than the average market value of common shares for the period presented) is 266,653 as of March 31, 2019 and have an average exercise price of $1.48 per share.


Additionally, as of March 31, 2019, there were 327,123 unvested restricted shares and 125,000 unvested restricted stock units outstanding.


XML 29 R17.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT INFORMATION
3 Months Ended
Mar. 31, 2019
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


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, distributed antenna systems (“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 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. 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 (in thousands):


     For the three months ended March 31,
     2019   2018 
Net revenue by segment:            
Network Solutions    $5,758   $5,511 
Test and Measurement     3,030    3,763 
Embedded Solutions     4,244    3,990 
Total consolidated net revenue of reportable segments     13,032    13,264 
             
Segment income (loss):            
Network Solutions     707    813 
Test and Measurement     235    510 
Embedded Solutions     (67)    611 
Income (loss) from reportable segments     875    1,934 
             
Other unallocated amounts:            
Corporate expenses     (1,272)    (1,365) 
Other (expenses) income - net     (85)    (139) 
Consolidated income/(loss) before Income tax provision/(benefit)    $(482)   $430 
             
Depreciation and amortization by segment:            
Network Solutions    $123   $136 
Test and Measurement     115    175 
Embedded Solutions     311    315 
Total depreciation and amortization for reportable segments    $549   $626 
             
Capital expenditures by segment:            
Network Solutions    $28   $78 
Test and Measurement     59    102 
Embedded Solutions     41    19 
Total consolidated capital expenditures by reportable segment    $128   $199 

    

March 31,
2019

  

December 31,
2018

 
Total assets by segment:            
Network Solutions    $11,078   $10,088 
Test and Measurement     8,304    5,943 
Embedded Solutions     18,630    16,804 
Total assets for reportable segments     38,012    32,835 
             
Corporate assets, principally cash and cash equivalents and deferred income taxes     9,077    11,332 
Total consolidated assets    $47,089   $44,167 

XML 30 R18.htm IDEA: XBRL DOCUMENT v3.19.1
COMMITMENTS AND CONTINGENCIES
3 Months Ended
Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

NOTE 13 – COMMITMENTS AND CONTINGENCIES


There have been no material changes in our commitments and contingencies and risks and uncertainties as of March 31, 2019 from that previously disclosed in our annual report on Form 10-K for the year ended December 31, 2018.


XML 31 R19.htm IDEA: XBRL DOCUMENT v3.19.1
Accounting Policies, by Policy (Policies)
3 Months Ended
Mar. 31, 2019
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation and Preparation


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”) splitters and 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 consolidated balance sheet as of March 31, 2019, the consolidated statements of operations and comprehensive income/(loss) for the three months ended March 31, 2019 and 2018, the consolidated statements of cash flows for the three months ended March 31, 2019 and 2018 and the consolidated statement of shareholders’ equity for the three months ended March 31, 2019 and 2018 have been prepared by the Company without audit. The 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 LLC (“Microlab”), Wireless Telecommunications Ltd. and CommAgility Limited (“CommAgility”). All intercompany transactions and balances have been eliminated in consolidation.


The Company presents its operations in three reportable segments: (1) Network Solutions, (2) Test and Measurement and (3) Embedded Solutions. The Network Solutions segment is comprised of the operations of Microlab. The Test and Measurement segment is comprised of the operations of Boonton and Noisecom. The Embedded Solutions segment is comprised of the operations of CommAgility.


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


The Company’s fiscal periods are based on the calendar year. Except as otherwise specified, references to “first quarter(s)” or “three months” indicate the Company’s fiscal periods ending March 31, 2019 and March 31, 2018, and references to “year-end” indicate the fiscal year ended December 31, 2018.

Consolidation, Policy [Policy Text Block]

Consolidated Financial Statements


In the opinion of management, the accompanying 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 consolidated financial statements included in its annual report on Form 10-K for the year ended December 31, 2018. 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 months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year ending December 31, 2019.

Reclassification, Policy [Policy Text Block]

Reclassification


Certain prior period amounts have been reclassified to conform with the current period presentation.

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 trade accounts receivable. The majority of the Company’s cash balance is held outside of the United States.


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, 2019 and 2018, one customer accounted for approximately 31% and 16% of the Company’s consolidated revenues, respectively. At March 31, 2019 and 2018, one customer accounted for 40% and 23% of consolidated gross accounts receivable, respectively.

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, and the notes thereto, through the date the financial statements were issued.

XML 32 R20.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure Text Block [Abstract]  
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] The following table presents information about the amount and timing of cash flows arising from the Company’s operating leases as of March 31, 2019.

(in thousands)  March 31, 2019
Maturity of Lease Liabilities     
2019 (remaining)  $383 
2020   511 
2021   474 
2022   488 
2023   123 
Thereafter   - 
Total Undiscounted Operating Lease Payments   1,979 
      
Less:  imputed interest   (206) 
Present Value of Operating Lease Liabilities   1,773 
      
Other information     
Weighted-average remaining lease term for operating leases (in months)   47 
Weighted-average discount rate for operating leases   5.70% 
XML 33 R21.htm IDEA: XBRL DOCUMENT v3.19.1
Revenue (Tables)
3 Months Ended
Mar. 31, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block] 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 (in thousands).

   Three Months Ended March 31, 2019 
     
   Network
Solutions
   Test and
Measurement
   Embedded
Solutions
   Total 
Total Net Revenues by Revenue Type                   
Passive RF Components  $5,758   $-   $-   $5,758 
Noise Generators and Components   -    1,446    -    1,446 
Power Meters and Analyzers   -    1,308    -    1,308 
Signal Processing Hardware   -    -    4,058    4,058 
Software Licenses   -    -    3    3 
Services   -    276    183    459 
Total Net Revenue  $5,758   $3,030   $4,244   $13,032 
                     
Total Net Revenues by Geographic Areas               
Americas  $5,203   $1,804   $175   $7,182 
EMEA   501    549    4,061    5,111 
APAC   54    677    8    739 
Total Net Revenue  $5,758   $3,030   $4,244   $13,032 
    Three Months Ended March 31, 2018 
      
   Network
Solutions
   Test and
Measurement
   Embedded
Solutions
   Total 
Total Net Revenues by Revenue Type                   
Passive RF Components  $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               
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 
XML 34 R22.htm IDEA: XBRL DOCUMENT v3.19.1
Earnings (Loss) Per Share (Tables)
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Schedule of Weighted Average Number of Shares [Table Text Block] 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, 
   2019   2018 
         
Weighted average common shares outstanding   20,972,612    20,644,409 
           
Potentially dilutive equity awards   708,736    988,708 
           
Weighted average common shares outstanding, assuming dilution   21,681,348    21,633,117 
XML 35 R23.htm IDEA: XBRL DOCUMENT v3.19.1
Inventories (Tables)
3 Months Ended
Mar. 31, 2019
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current [Table Text Block] Inventories consist of (in thousands)

Inventories consist of (in thousands):  March 31,   December 31, 
   2019   2018 
Raw materials  $3,998   $3,248 
Work-in-process   592    557 
Finished goods   3,173    3,079 
   $7,763   $6,884 
XML 36 R24.htm IDEA: XBRL DOCUMENT v3.19.1
Debt (Tables)
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block] Debt consists of the following (in thousands):

   March 31, 2019 
Revolver at LIBOR Plus Margin  $3,595 
Term Loan at LIBOR Plus Margin   456 
Total Debt   4,051 
Debt maturing within one year   (4,051) 
Non-current portion of long term debt  $- 
XML 37 R25.htm IDEA: XBRL DOCUMENT v3.19.1
Accounting for Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] The following table presents the assumptions used to estimate the fair value of the stock option award granted in the first quarter of 2019 under the Black Scholes model:

   Number of
Options
  Option
Term
(in years)
  Exercise
Price
  Risk Free
Interest
Rate
  Expected
Volatility
  Fair Value
at Grant
Date
  Expected
Dividend
Yield
January 11, 2019  15,000  3  $1.56  2.52%  49.80%  $0.56  $0.00
XML 38 R26.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT INFORMATION (Tables)
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block] Financial information by reportable segment for the respective periods is set forth below (in thousands):

     For the three months ended March 31,
     2019   2018 
Net revenue by segment:            
Network Solutions    $5,758   $5,511 
Test and Measurement     3,030    3,763 
Embedded Solutions     4,244    3,990 
Total consolidated net revenue of reportable segments     13,032    13,264 
             
Segment income (loss):            
Network Solutions     707    813 
Test and Measurement     235    510 
Embedded Solutions     (67)    611 
Income (loss) from reportable segments     875    1,934 
             
Other unallocated amounts:            
Corporate expenses     (1,272)    (1,365) 
Other (expenses) income - net     (85)    (139) 
Consolidated income/(loss) before Income tax provision/(benefit)    $(482)   $430 
             
Depreciation and amortization by segment:            
Network Solutions    $123   $136 
Test and Measurement     115    175 
Embedded Solutions     311    315 
Total depreciation and amortization for reportable segments    $549   $626 
             
Capital expenditures by segment:            
Network Solutions    $28   $78 
Test and Measurement     59    102 
Embedded Solutions     41    19 
Total consolidated capital expenditures by reportable segment    $128   $199 
Schedule Of Segment Reporting Information Total Assets By Segment [Table Text Block]
    

March 31,
2019

  

December 31,
2018

 
Total assets by segment:            
Network Solutions    $11,078   $10,088 
Test and Measurement     8,304    5,943 
Embedded Solutions     18,630    16,804 
Total assets for reportable segments     38,012    32,835 
             
Corporate assets, principally cash and cash equivalents and deferred income taxes     9,077    11,332 
Total consolidated assets    $47,089   $44,167 
XML 39 R27.htm IDEA: XBRL DOCUMENT v3.19.1
Summary of Significant Accounting Principles and Policies (Details)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Summary of Significant Accounting Principles and Policies (Details) [Line Items]    
Number of Reportable Segments 3  
Customer One [Member]    
Summary of Significant Accounting Principles and Policies (Details) [Line Items]    
Number of significant customer respect to revenue 1 1
Concentration Risk, Percentage 31.00% 16.00%
Number of Significant Customer Respect to Accounts Receivable 1 1
Percentage Of Accounts Receivable Attributable To Significant Customer 40.00% 23.00%
XML 40 R28.htm IDEA: XBRL DOCUMENT v3.19.1
Accounting Pronouncements (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Jan. 01, 2019
Accounting Changes and Error Corrections [Abstract]    
Operating Lease, Right-of-Use Asset $ 1,766 $ 1,900
Operating Lease, Liability $ 1,773 $ 1,900
XML 41 R29.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Details) - USD ($)
3 Months Ended
Mar. 31, 2019
Jan. 01, 2019
Leases (Details) [Line Items]    
Operating Lease, Right-of-Use Asset $ 1,766,000 $ 1,900,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 0  
Operating Lease, Payments 100,000  
Operating Lease, Cost $ 100,000  
Minimum [Member]    
Leases (Details) [Line Items]    
Lessee, Operating Lease, Term of Contract 12 months  
Maximum [Member]    
Leases (Details) [Line Items]    
Lessee, Operating Lease, Term of Contract 8 years  
XML 42 R30.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Details) - Schedule of amount and maturity of operating lease liability - USD ($)
$ in Thousands
Mar. 31, 2019
Jan. 01, 2019
Schedule of amount and maturity of operating lease liability [Abstract]    
2019 (remaining) $ 383  
2020 511  
2021 474  
2022 488  
2023 123  
Thereafter  
Total Undiscounted Operating Lease Payments 1,979  
Less: imputed interest (206)  
Present Value of Operating Lease Liabilities $ 1,773 $ 1,900
Other information    
Weighted-average remaining lease term for operating leases (in months) 47 months  
Weighted-average discount rate for operating leases 5.70%  
XML 43 R31.htm IDEA: XBRL DOCUMENT v3.19.1
Revenue (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Revenue (Details) [Line Items]      
Prepaid Expense and Other Assets, Current $ 1,017   $ 1,689
Deferred Revenue, Current $ 207   103
Revenue Benchmark [Member]      
Revenue (Details) [Line Items]      
Revenue Performance Obligation, Percentage 99.00% 95.00%  
Accounting Standards Update 2014-09 [Member]      
Revenue (Details) [Line Items]      
Deferred Revenue, Current $ 200   100
Contract Assets In Prepaid Expense And Other Assets [Member]      
Revenue (Details) [Line Items]      
Prepaid Expense and Other Assets, Current     $ 300
XML 44 R32.htm IDEA: XBRL DOCUMENT v3.19.1
Revenue (Details) - Schedule of Disaggregated Revenue - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Disaggregation of Revenue [Line Items]    
Revenues $ 13,032 $ 13,264
Passive RF Components [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 5,758 5,511
Noise Generators And Components [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 1,446 1,499
Power Meters And Analyzers [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 1,308 1,980
Signal Processing Hardware [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 4,058 2,906
Software Licenses [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 3 483
Service [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 459 885
Americas [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 7,182 8,097
EMEA [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 5,111 3,760
Asia Pacific [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 739 1,407
Network Solutions [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 5,758 5,511
Network Solutions [Member] | Passive RF Components [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 5,758 5,511
Network Solutions [Member] | Americas [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 5,203 4,159
Network Solutions [Member] | EMEA [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 501 941
Network Solutions [Member] | Asia Pacific [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 54 411
Test and Measurement [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 3,030 3,763
Test and Measurement [Member] | Noise Generators And Components [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 1,446 1,499
Test and Measurement [Member] | Power Meters And Analyzers [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 1,308 1,980
Test and Measurement [Member] | Service [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 276 284
Test and Measurement [Member] | Americas [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 1,804 2,515
Test and Measurement [Member] | EMEA [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 549 449
Test and Measurement [Member] | Asia Pacific [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 677 799
Embedded Solution [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 4,244 3,990
Embedded Solution [Member] | Signal Processing Hardware [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 4,058 2,906
Embedded Solution [Member] | Software Licenses [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 3 483
Embedded Solution [Member] | Service [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 183 601
Embedded Solution [Member] | Americas [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 175 1,423
Embedded Solution [Member] | EMEA [Member]    
Disaggregation of Revenue [Line Items]    
Revenues 4,061 2,370
Embedded Solution [Member] | Asia Pacific [Member]    
Disaggregation of Revenue [Line Items]    
Revenues $ 8 $ 197
XML 45 R33.htm IDEA: XBRL DOCUMENT v3.19.1
Acquisition of CommAgility (Details)
£ in Millions, $ in Millions
1 Months Ended 3 Months Ended
Feb. 17, 2017
USD ($)
shares
Feb. 17, 2017
GBP (£)
shares
Mar. 31, 2019
USD ($)
Mar. 31, 2018
USD ($)
CommAgility [Member]        
Acquisition of CommAgility (Details) [Line Items]        
Business Acquisition, Date of Acquisition Agreement     Feb. 17, 2017  
Payments to Acquire Businesses, Gross $ 11.3      
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares 3,487,528 3,487,528    
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned $ 6.0      
Business Combination Deferred Purchase Price Payable 2.5      
Business Combination Working Capital Additional Purchase Price Adjustment $ 1.4      
Business Combination, Contingent Consideration, Liability     $ 1.5  
Payment for Contingent Consideration Liability, Operating Activities     0.7  
Payment for Contingent Consideration Liability, Financing Activities     0.8  
Business Acquisition Equity Interests Issued or Issuable Number of Shares Forfeited (in Shares) | shares 2,092,516 2,092,516    
Business Acquisition Equity Interests Issued or Issuable Number of Shares Forfeited Condition (a) 2017 Adjusted EBITDA, as defined,generated by CommAgility was less than £2.4 million; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility wasless than £2.4 million (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 was less than £2.4 million; or (b) 2018 Adjusted EBITDA, as defined, generated by CommAgility wasless than £2.4 million (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 Acquisition Equity Interests Issued Or Issuable Shares Forfeited Amount       $ 3.6
Total Purchase Price [Member]        
Acquisition of CommAgility (Details) [Line Items]        
Business Combination, Consideration Transferred     $ 14.6  
2017 Adjusted EBITDA Threshold [Member] | Maximum [Member] | CommAgility [Member]        
Acquisition of CommAgility (Details) [Line Items]        
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (in Pounds) | £   £ 2.4    
2018 Adjusted EBITDA Threshold [Member] | Maximum [Member] | CommAgility [Member]        
Acquisition of CommAgility (Details) [Line Items]        
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (in Pounds) | £   £ 2.4    
XML 46 R34.htm IDEA: XBRL DOCUMENT v3.19.1
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Tax Disclosure [Abstract]    
Deferred Tax Assets, Net of Valuation Allowance $ 5.1  
Deferred Tax Assets, Valuation Allowance $ 6.7  
Effective Income Tax Rate Reconciliation, Percent 28.60% 13.00%
XML 47 R35.htm IDEA: XBRL DOCUMENT v3.19.1
Earnings (Loss) Per Share (Details)
3 Months Ended
Mar. 31, 2019
shares
Earnings Per Share [Abstract]  
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 405,000
XML 48 R36.htm IDEA: XBRL DOCUMENT v3.19.1
Earnings (Loss) Per Share (Details) - Schedule of weighted average number of shares - Weighted Average Common Share Oustanding Calculation [Member] - shares
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Earnings (Loss) Per Share (Details) - Schedule of weighted average number of shares [Line Items]    
Weighted average common shares outstanding 20,972,612 20,644,409
Potentially dilutive equity awards 708,736 988,708
Weighted average common shares outstanding, assuming dilution 21,681,348 21,633,117
XML 49 R37.htm IDEA: XBRL DOCUMENT v3.19.1
Inventories (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Inventory Disclosure [Abstract]    
Inventory Valuation Reserves $ 1,830 $ 1,910
XML 50 R38.htm IDEA: XBRL DOCUMENT v3.19.1
Inventories (Details) - Schedule of Inventory, Current - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Schedule of Inventory, Current [Abstract]    
Raw materials $ 3,998 $ 3,248
Work-in-process 592 557
Finished goods 3,173 3,079
$ 7,763 $ 6,884
XML 51 R39.htm IDEA: XBRL DOCUMENT v3.19.1
Debt (Details) - USD ($)
1 Months Ended 3 Months Ended
Sep. 30, 2017
Feb. 16, 2017
Feb. 26, 2019
Mar. 31, 2019
Dec. 31, 2018
Debt (Details) [Line Items]          
Borrowing Base Eligibility Percentage       85.00%  
Debt Instrument, Covenant Description       If theCompany’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 1.00 to 1.00 butless 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.  
Line of Credit Facility, Collateral       The Credit Facility is securedby liens on substantially all of the Company’s and its domestic subsidiaries’ assets including a pledge of 66.33%of the equity interests in the Company’s Foreign Subsidiaries (as defined in the Credit Facility).  
Foreign Subsidiary Holding Pledged For New Credit Facility Percentage       66.33%  
Term Loan [Member]          
Debt (Details) [Line Items]          
Debt Instrument, Face Amount (in Dollars)   $ 800,000      
Debt Instrument, Periodic Payment (in Dollars)   38,000      
Debt Instrument, Date of First Required Payment       Apr. 01, 2017  
Debt Instrument, Basis Spread on Variable Rate 3.50%        
Debt Instrument, Interest Rate, Effective Percentage       5.75% 5.88%
Revolving Loan [Member]          
Debt (Details) [Line Items]          
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)   9,000,000      
Payment of Legal Fees (in Dollars)   $ 200,000      
Debt Instrument, Maturity Date       Nov. 16, 2019  
Debt Instrument, Basis Spread on Variable Rate 3.00%        
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage       0.50%  
Debt Instrument, Interest Rate, Effective Percentage       5.25% 5.38%
Revolving Credit Facility [Member]          
Debt (Details) [Line Items]          
Line of Credit Facility, Expiration Date     Nov. 16, 2019    
Line Of Credit Facility Extended Expiration Date     Mar. 31, 2020    
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 52 R40.htm IDEA: XBRL DOCUMENT v3.19.1
Debt (Details) - Schedule of Debt
$ in Thousands
Mar. 31, 2019
USD ($)
Debt (Details) - Schedule of Debt [Line Items]  
Total Debt $ 4,051
Debt Maturing within one year (4,051)
Non-current portion of long term debt
Revolving Loan [Member]  
Debt (Details) - Schedule of Debt [Line Items]  
Total Debt 3,595
Term Loan [Member]  
Debt (Details) - Schedule of Debt [Line Items]  
Total Debt $ 456
XML 53 R41.htm IDEA: XBRL DOCUMENT v3.19.1
Accounting for Stock Based Compensation (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2012
Jun. 30, 2014
Accounting for Stock Based Compensation (Details) [Line Items]        
Share-based Payment Arrangement, Noncash Expense (in Dollars) $ 209 $ 188    
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in Dollars per share) $ 0.78      
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in Dollars per share) $ 1.92      
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements 266,653      
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price (in Dollars per share) $ 1.48      
Service Based Stock Options [Member]        
Accounting for Stock 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, Outstanding, Number 1,950,000      
Performance Based Stock Options [Member]        
Accounting for Stock 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, Outstanding, Number 305,000      
Restricted Stock [Member]        
Accounting for Stock Based Compensation (Details) [Line Items]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number 327,123      
Restricted Stock Units (RSUs) [Member]        
Accounting for Stock Based Compensation (Details) [Line Items]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number 125,000      
Incentive Compensation Plan 2012 [Member]        
Accounting for Stock Based Compensation (Details) [Line Items]        
Stock or Units Available for Distributions     2,000,000  
Share Based Compensation Arrangement By Share Based Payment Award Additional Number of Share Available for Grant       1,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant 1,700,000      
Incentive Compensation Plan 2012 [Member] | Service Based Stock Options [Member]        
Accounting for Stock Based Compensation (Details) [Line Items]        
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross 15,000      
Incentive Compensation Plan 2012 [Member] | Restricted Stock [Member]        
Accounting for Stock Based Compensation (Details) [Line Items]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period 95,000      
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in Dollars per share) $ 1.56      
XML 54 R42.htm IDEA: XBRL DOCUMENT v3.19.1
Accounting for Stock Based Compensation (Details) - Schedule of assumptions used to estimate the fair value of stock option awards granted - January 11, 2019 Grant [Member]
3 Months Ended
Mar. 31, 2019
$ / shares
shares
Accounting for Stock Based Compensation (Details) - Schedule of assumptions used to estimate the fair value of stock option awards granted [Line Items]  
Number of Options (in Shares) | shares 15,000
Option Term (in years) 3 years
Exercise Price (in Dollars per share) $ 1.56
Risk Free Interest Rate 2.52%
Expected Volatility 49.80%
Fair Value at Grant Date (in Dollars per share) $ 0.56
Expected Dividend Yield 0.00%
XML 55 R43.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT INFORMATION (Details)
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Number of Reportable Segments 3
XML 56 R44.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT INFORMATION (Details) - Schedule of segment reporting financial information - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Net revenue by segment:    
Net revenue by segment $ 13,032 $ 13,264
Segment income (loss):    
Segment income (loss) 875 1,934
Other unallocated amounts:    
Corporate expenses (1,272) (1,365)
Other (expenses) income - net (85) (139)
Consolidated income/(loss) before Income tax provision/(benefit) (482) 430
Depreciation and amortization by segment:    
Depreciation and amortization by segment 549 626
Capital expenditures by segment:    
Capital expenditures by segment 128 199
Network Solutions [Member]    
Net revenue by segment:    
Net revenue by segment 5,758 5,511
Segment income (loss):    
Segment income (loss) 707 813
Depreciation and amortization by segment:    
Depreciation and amortization by segment 123 136
Capital expenditures by segment:    
Capital expenditures by segment 28 78
Test and Measurement [Member]    
Net revenue by segment:    
Net revenue by segment 3,030 3,763
Segment income (loss):    
Segment income (loss) 235 510
Depreciation and amortization by segment:    
Depreciation and amortization by segment 115 175
Capital expenditures by segment:    
Capital expenditures by segment 59 102
Embedded Solution [Member]    
Net revenue by segment:    
Net revenue by segment 4,244 3,990
Segment income (loss):    
Segment income (loss) (67) 611
Depreciation and amortization by segment:    
Depreciation and amortization by segment 311 315
Capital expenditures by segment:    
Capital expenditures by segment $ 41 $ 19
XML 57 R45.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT INFORMATION (Details) - Schedule of segment reporting information total assets by segment - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Total assets by segment:    
Total assets by segment $ 38,012 $ 32,835
Corporate assets, principally cash and cash equivalents and deferred income taxes 9,077 11,332
Total consolidated assets 47,089 44,167
Network Solutions [Member]    
Total assets by segment:    
Total assets by segment 11,078 10,088
Test and Measurement [Member]    
Total assets by segment:    
Total assets by segment 8,304 5,943
Embedded Solution [Member]    
Total assets by segment:    
Total assets by segment $ 18,630 $ 16,804
EXCEL 58 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 59 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 60 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 61 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.1 html 154 222 1 false 42 0 false 5 false false R1.htm 000 - Document - Document And Entity Information Sheet http://www.wirelesstelecomgroup.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 001 - Statement - CONSOLIDATED BALANCE SHEETS Sheet http://www.wirelesstelecomgroup.com/role/ConsolidatedBalanceSheet CONSOLIDATED BALANCE SHEETS Statements 2 false false R3.htm 002 - Statement - CONSOLIDATED BALANCE SHEETS (Parentheticals) Sheet http://www.wirelesstelecomgroup.com/role/ConsolidatedBalanceSheet_Parentheticals CONSOLIDATED BALANCE SHEETS (Parentheticals) Statements 3 false false R4.htm 003 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) Sheet http://www.wirelesstelecomgroup.com/role/ConsolidatedIncomeStatement CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) Statements 4 false false R5.htm 004 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.wirelesstelecomgroup.com/role/ConsolidatedCashFlow CONSOLIDATED STATEMENTS OF CASH FLOWS Statements 5 false false R6.htm 005 - Statement - CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY Sheet http://www.wirelesstelecomgroup.com/role/ShareholdersEquityType2or3 CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY Statements 6 false false R7.htm 006 - Disclosure - Summary of Significant Accounting Principles and Policies Sheet http://www.wirelesstelecomgroup.com/role/SummaryofSignificantAccountingPrinciplesandPolicies Summary of Significant Accounting Principles and Policies Notes 7 false false R8.htm 007 - Disclosure - Accounting Pronouncements Sheet http://www.wirelesstelecomgroup.com/role/AccountingPronouncements Accounting Pronouncements Notes 8 false false R9.htm 008 - Disclosure - Leases Sheet http://www.wirelesstelecomgroup.com/role/Leases Leases Notes 9 false false R10.htm 009 - Disclosure - Revenue Sheet http://www.wirelesstelecomgroup.com/role/Revenue Revenue Notes 10 false false R11.htm 010 - Disclosure - Acquisition of CommAgility Sheet http://www.wirelesstelecomgroup.com/role/AcquisitionofCommAgility Acquisition of CommAgility Notes 11 false false R12.htm 011 - Disclosure - Income Taxes Sheet http://www.wirelesstelecomgroup.com/role/IncomeTaxes Income Taxes Notes 12 false false R13.htm 012 - Disclosure - Earnings (Loss) Per Share Sheet http://www.wirelesstelecomgroup.com/role/EarningsLossPerShare Earnings (Loss) Per Share Notes 13 false false R14.htm 013 - Disclosure - Inventories Sheet http://www.wirelesstelecomgroup.com/role/Inventories Inventories Notes 14 false false R15.htm 014 - Disclosure - Debt Sheet http://www.wirelesstelecomgroup.com/role/Debt Debt Notes 15 false false R16.htm 015 - Disclosure - Accounting for Stock Based Compensation Sheet http://www.wirelesstelecomgroup.com/role/AccountingforStockBasedCompensation Accounting for Stock Based Compensation Notes 16 false false R17.htm 016 - Disclosure - SEGMENT INFORMATION Sheet http://www.wirelesstelecomgroup.com/role/SEGMENTINFORMATION SEGMENT INFORMATION Notes 17 false false R18.htm 017 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://www.wirelesstelecomgroup.com/role/COMMITMENTSANDCONTINGENCIES COMMITMENTS AND CONTINGENCIES Notes 18 false false R19.htm 018 - Disclosure - Accounting Policies, by Policy (Policies) Sheet http://www.wirelesstelecomgroup.com/role/AccountingPoliciesByPolicy Accounting Policies, by Policy (Policies) Policies http://www.wirelesstelecomgroup.com/role/SummaryofSignificantAccountingPrinciplesandPolicies 19 false false R20.htm 019 - Disclosure - Leases (Tables) Sheet http://www.wirelesstelecomgroup.com/role/LeasesTables Leases (Tables) Tables http://www.wirelesstelecomgroup.com/role/Leases 20 false false R21.htm 020 - Disclosure - Revenue (Tables) Sheet http://www.wirelesstelecomgroup.com/role/RevenueTables Revenue (Tables) Tables http://www.wirelesstelecomgroup.com/role/Revenue 21 false false R22.htm 021 - Disclosure - Earnings (Loss) Per Share (Tables) Sheet http://www.wirelesstelecomgroup.com/role/EarningsLossPerShareTables Earnings (Loss) Per Share (Tables) Tables http://www.wirelesstelecomgroup.com/role/EarningsLossPerShare 22 false false R23.htm 022 - Disclosure - Inventories (Tables) Sheet http://www.wirelesstelecomgroup.com/role/InventoriesTables Inventories (Tables) Tables http://www.wirelesstelecomgroup.com/role/Inventories 23 false false R24.htm 023 - Disclosure - Debt (Tables) Sheet http://www.wirelesstelecomgroup.com/role/DebtTables Debt (Tables) Tables http://www.wirelesstelecomgroup.com/role/Debt 24 false false R25.htm 024 - Disclosure - Accounting for Stock Based Compensation (Tables) Sheet http://www.wirelesstelecomgroup.com/role/AccountingforStockBasedCompensationTables Accounting for Stock Based Compensation (Tables) Tables http://www.wirelesstelecomgroup.com/role/AccountingforStockBasedCompensation 25 false false R26.htm 025 - Disclosure - SEGMENT INFORMATION (Tables) Sheet http://www.wirelesstelecomgroup.com/role/SEGMENTINFORMATIONTables SEGMENT INFORMATION (Tables) Tables http://www.wirelesstelecomgroup.com/role/SEGMENTINFORMATION 26 false false R27.htm 026 - Disclosure - Summary of Significant Accounting Principles and Policies (Details) Sheet http://www.wirelesstelecomgroup.com/role/SummaryofSignificantAccountingPrinciplesandPoliciesDetails Summary of Significant Accounting Principles and Policies (Details) Details 27 false false R28.htm 027 - Disclosure - Accounting Pronouncements (Details) Sheet http://www.wirelesstelecomgroup.com/role/AccountingPronouncementsDetails Accounting Pronouncements (Details) Details http://www.wirelesstelecomgroup.com/role/AccountingPronouncements 28 false false R29.htm 028 - Disclosure - Leases (Details) Sheet http://www.wirelesstelecomgroup.com/role/LeasesDetails Leases (Details) Details http://www.wirelesstelecomgroup.com/role/LeasesTables 29 false false R30.htm 029 - Disclosure - Leases (Details) - Schedule of amount and maturity of operating lease liability Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofamountandmaturityofoperatingleaseliabilityTable Leases (Details) - Schedule of amount and maturity of operating lease liability Details http://www.wirelesstelecomgroup.com/role/LeasesTables 30 false false R31.htm 030 - Disclosure - Revenue (Details) Sheet http://www.wirelesstelecomgroup.com/role/RevenueDetails Revenue (Details) Details http://www.wirelesstelecomgroup.com/role/RevenueTables 31 false false R32.htm 031 - Disclosure - Revenue (Details) - Schedule of Disaggregated Revenue Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofDisaggregatedRevenueTable Revenue (Details) - Schedule of Disaggregated Revenue Details http://www.wirelesstelecomgroup.com/role/RevenueTables 32 false false R33.htm 032 - Disclosure - Acquisition of CommAgility (Details) Sheet http://www.wirelesstelecomgroup.com/role/AcquisitionofCommAgilityDetails Acquisition of CommAgility (Details) Details http://www.wirelesstelecomgroup.com/role/AcquisitionofCommAgility 33 false false R34.htm 033 - Disclosure - Income Taxes (Details) Sheet http://www.wirelesstelecomgroup.com/role/IncomeTaxesDetails Income Taxes (Details) Details http://www.wirelesstelecomgroup.com/role/IncomeTaxes 34 false false R35.htm 034 - Disclosure - Earnings (Loss) Per Share (Details) Sheet http://www.wirelesstelecomgroup.com/role/EarningsLossPerShareDetails Earnings (Loss) Per Share (Details) Details http://www.wirelesstelecomgroup.com/role/EarningsLossPerShareTables 35 false false R36.htm 035 - Disclosure - Earnings (Loss) Per Share (Details) - Schedule of weighted average number of shares Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofweightedaveragenumberofsharesTable Earnings (Loss) Per Share (Details) - Schedule of weighted average number of shares Details http://www.wirelesstelecomgroup.com/role/EarningsLossPerShareTables 36 false false R37.htm 036 - Disclosure - Inventories (Details) Sheet http://www.wirelesstelecomgroup.com/role/InventoriesDetails Inventories (Details) Details http://www.wirelesstelecomgroup.com/role/InventoriesTables 37 false false R38.htm 037 - Disclosure - Inventories (Details) - Schedule of Inventory, Current Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofInventoryCurrentTable Inventories (Details) - Schedule of Inventory, Current Details http://www.wirelesstelecomgroup.com/role/InventoriesTables 38 false false R39.htm 038 - Disclosure - Debt (Details) Sheet http://www.wirelesstelecomgroup.com/role/DebtDetails Debt (Details) Details http://www.wirelesstelecomgroup.com/role/DebtTables 39 false false R40.htm 039 - Disclosure - Debt (Details) - Schedule of Debt Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofDebtTable Debt (Details) - Schedule of Debt Details http://www.wirelesstelecomgroup.com/role/DebtTables 40 false false R41.htm 040 - Disclosure - Accounting for Stock Based Compensation (Details) Sheet http://www.wirelesstelecomgroup.com/role/AccountingforStockBasedCompensationDetails Accounting for Stock Based Compensation (Details) Details http://www.wirelesstelecomgroup.com/role/AccountingforStockBasedCompensationTables 41 false false R42.htm 041 - Disclosure - Accounting for Stock Based Compensation (Details) - Schedule of assumptions used to estimate the fair value of stock option awards granted Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofassumptionsusedtoestimatethefairvalueofstockoptionawardsgrantedTable Accounting for Stock Based Compensation (Details) - Schedule of assumptions used to estimate the fair value of stock option awards granted Details http://www.wirelesstelecomgroup.com/role/AccountingforStockBasedCompensationTables 42 false false R43.htm 042 - Disclosure - SEGMENT INFORMATION (Details) Sheet http://www.wirelesstelecomgroup.com/role/SEGMENTINFORMATIONDetails SEGMENT INFORMATION (Details) Details http://www.wirelesstelecomgroup.com/role/SEGMENTINFORMATIONTables 43 false false R44.htm 043 - Disclosure - SEGMENT INFORMATION (Details) - Schedule of segment reporting financial information Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofsegmentreportingfinancialinformationTable SEGMENT INFORMATION (Details) - Schedule of segment reporting financial information Details http://www.wirelesstelecomgroup.com/role/SEGMENTINFORMATIONTables 44 false false R45.htm 044 - Disclosure - SEGMENT INFORMATION (Details) - Schedule of segment reporting information total assets by segment Sheet http://www.wirelesstelecomgroup.com/role/ScheduleofsegmentreportinginformationtotalassetsbysegmentTable SEGMENT INFORMATION (Details) - Schedule of segment reporting information total assets by segment Details http://www.wirelesstelecomgroup.com/role/SEGMENTINFORMATIONTables 45 false false All Reports Book All Reports wtt-20190331.xml wtt-20190331.xsd wtt-20190331_cal.xml wtt-20190331_def.xml wtt-20190331_lab.xml wtt-20190331_pre.xml http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/srt/2019-01-31 http://fasb.org/us-gaap/2019-01-31 true true ZIP 63 0000930413-19-001594-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000930413-19-001594-xbrl.zip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