Duyuru • Feb 01
PCTEL, Inc. Announces Commissioning Test Automation System for In-Building Public Safety Radio Systems PCTEL, Inc. announced a commissioning test automation system that makes it easy to install code-compliant BDAs (bi-directional amplifiers) that provide reliable in-building communications coverage for first responders. PCTEL’s BDA commissioning test system automates key tests that are needed to comply with FCC, NFPA (National Fire Protection Association), IFC (International Fire Code) and BDA manufacturer guidelines. An easy-to-understand grading system provides instant feedback on test outcomes. Once testing is complete, PCTEL’s system automatically provides the documentation needed to review the results and determine if the commissioning was completed properly. Automating the tests associated with BDA commissioning speeds up the commissioning process and enables a broader set of people to perform the tests correctly. BDAs that are not properly commissioned may perform unreliably and may cause interference with outdoor public safety radio communications. BDA commissioning tests are fully integrated with PCTEL’s existing public safety network testing system and SeeHawk™ Central cloud-based automated workflow management platform. SeeHawk Central further simplifies the process by enabling users at a central location to plan tests, review results, and automatically send results to public safety officials for approval. Public safety agencies can track the results of both in-building coverage and BDA commissioning tests in the SeeHawk™ Central platform with a complimentary account. Duyuru • Dec 27
PCTEL Files Form 15 PCTEL, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.001 per share. Duyuru • Nov 17
PCTEL, Inc. Announces New Embedded Antenna Platform PCTEL, Inc. announced its new embedded antenna platform for integrated radio deployments. PCTEL's embedded antennas help device manufacturers to overcome space limitations and meet aesthetic requirements without sacrificing performance. PCTEL's embedded antenna portfolio consists of compact low-profile design solutions that provide wide coverage patterns in the 2.4 GHz, 5 GHz and 6 GHz frequency bands. They are easy to install and integrate into tight spaces. The antennas offer a solid mechanical construction and are designed for portable and network devices used across different vertical markets. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$0.006 loss per share (down from US$0.11 profit in 3Q 2022). Revenue: US$17.4m (down 33% from 3Q 2022). Net loss: US$110.0k (down 106% from profit in 3Q 2022). Revenue missed analyst estimates by 15%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 47% After last week's 47% share price gain to US$6.85, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 20x in the Communications industry in the US. Total returns to shareholders of 43% over the past three years. New Risk • Oct 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$4.81, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 20x in the Communications industry in the US. Total loss to shareholders of 7.2% over the past three years. Duyuru • Aug 31
Chain of Lakes Investment Discloses its Views on PCTEL On August 29, 2023, Chain of Lakes Investment Fund, LLC requests that PCTEL, Inc.’s Board immediately conduct an expedited formal review of strategic alternatives with respect to the Company and provide the shareholders with an update regarding the results of such review. Chain of Lakes Investment added that while it views shareholders might receive slightly greater value in selling each of the Company’s businesses separately, Chain of Lakes Investment asks the Company to sell the entire company in one transaction to expedite the return of shareholders’ capital. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 17% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risks Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Market cap is less than US$100m (US$82.4m market cap). Reported Earnings • Aug 09
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: US$0.053 (up from US$0.023 in 2Q 2022). Revenue: US$20.6m (down 18% from 2Q 2022). Net income: US$999.0k (up 143% from 2Q 2022). Profit margin: 4.9% (up from 1.6% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • Aug 09
PCTEL, Inc. Provides Revenue Guidance for the Third Quarter 2023 PCTEL, Inc. provides revenue guidance for the third quarter 2023. The company expects revenue of $20.0 million to $21.0 million. Duyuru • Aug 04
PCTEL, Inc. Announces New Innovative 5G FR1 Omnidirectional Antenna for Industrial IoT Applications PCTEL, Inc. announced its new 5G FR1 Omnidirectional antenna optimized for Industrial IoT applications. The demand for reliable, secure wireless connectivity and extensive coverage is increasing. PCTEL's new 5G FR1 omnidirectional antenna has been designed to meet the requirements of today's wireless networks and to provide continuous connectivity in the harshest environments. Suitable for a wide variety of mission critical communication applications such as utilities, smart cities, factory automation, retail/security failover, and overall Industrial IoT applications, PCTEL's new 5 G FR1 Omnidirectional antennas offers a mechanically robust design, flexible installation, superior bandwidth, and superior coverage within the full 5G FR1 frequency range. Upcoming Dividend • Jul 31
Upcoming dividend of US$0.055 per share at 4.4% yield Eligible shareholders must have bought the stock before 07 August 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.0%). Duyuru • Jul 27
PCTEL, Inc. Announces New Tri-Band Wi-Fi 7 Omnidirectional Antenna Platform for Unmatched Signal Coverage in Iiot, Enterprise and Mining Applications PCTEL, Inc. announced its new tri-band omnidirectional antenna platform for industrial IoT, enterprise, and mining applications. Tri-band omnidirectional antennas are key for Wi-Fi networks, especially in areas with a high-density population where it is crucial to have the right antenna solution to provide the best coverage and increase capacity. PCTEL's new tri-band antenna platform offers top-of-the-line performance in a rugged, low-profile design and can operate in the full Wi-Fi 7 frequency range, allowing simultaneous support of multiple Wi-Fi standards in the 2.4 GHz, 5 GHz and 6 GHz bands. Duyuru • Jul 26
PCTEL, Inc. to Report Q2, 2023 Results on Aug 08, 2023 PCTEL, Inc. announced that they will report Q2, 2023 results on Aug 08, 2023 Duyuru • Jul 23
PCTEL, Inc. Declares Regular Quarterly Dividend, Payable on August 15, 2023 PCTEL, Inc. announced the declaration of its regular quarterly dividend of $0.055 per share on its common stock. This dividend will be payable on August 15, 2023 to shareholders of record at the close of business on August 8, 2023. Duyuru • Jun 24
PCTEL, Inc. Appoints Anthony R. Rossabi to the Pctel Board of Directors PCTEL, Inc. announced the election of Anthony R. Rossabi to the PCTEL Board of Directors in the annual meeting of stockholders held June 22, 2023. Duyuru • May 23
PCTEL, Inc. Adds 4G LTE and 5G NR Network Monitoring Capabilities to SeeHawk Monitor PCTEL, Inc. announced its new 4G LTE and 5G NR network monitoring capabilities for the SeeHawk Monitor system. PCTEL launched the SeeHawk Monitor spectrum monitoring and uplink testing solution for P25 public safety radio networks in August 2022. With this new release, the same platform can be used to monitor downlink signals from 4G LTE and 5G NR network base stations. This solution helps users support mission-critical public safety and private broadband network performance as well as regulatory and enforcement activities such as international spectrum coordination and rogue base station detection. SeeHawk Monitor’s 4G and 5G network monitoring solution enables users to rapidly detect and respond to changes in network conditions. It utilizes Remote Test Units (RTUs) to detect and decode 4G LTE and 5G NR base station signals in real time. Upon detection, the system notifies users of changes in conditions, such as a reduction in signal quality or the presence of a new or rogue network. Real-time monitoring and spectrum analysis tools aid further investigation. PCTEL announced SeeHawk Monitor’s 4G/5G network monitoring capabilities at Critical Communications World 2023 in Helsinki, Finland. Attendees can visit Stand J12 May 23-25 for a demonstration. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$4.99, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 20x in the Communications industry in the US. Total loss to shareholders of 13% over the past three years. Duyuru • May 12
PCTEL, Inc., Annual General Meeting, Jun 22, 2023 PCTEL, Inc., Annual General Meeting, Jun 22, 2023, at 11:00 Central Standard Time. Agenda: To consider the election of the three Class III director nominees named in the proxy statement to serve as directors for three-year terms that will expire at the 2026 annual meeting of stockholders; to consider a non-binding advisory vote to approve the Company’s 2022 named executive officer compensation; to consider a non-binding advisory vote on the frequency of future votes to approve named executive officer compensation; to consider the ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023; and to consider the transaction of such other business as may properly come before the meeting or any adjournment or postponement thereof. Duyuru • May 06
PCTEL, Inc. Provides Earnings Guidance for the Second Quarter of 2023 PCTEL, Inc. provided earnings guidance for the second quarter of 2023. For the quarter, the company expects revenue of $20.0 million to $21.0 million. Reported Earnings • May 06
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: US$0.072 (up from US$0.087 loss in 1Q 2022). Revenue: US$23.0m (up 1.9% from 1Q 2022). Net income: US$1.32m (up US$2.89m from 1Q 2022). Profit margin: 5.8% (up from net loss in 1Q 2022). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$4.23, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 21x in the Communications industry in the US. Total returns to shareholders of 12% over the past three years. Reported Earnings • Mar 09
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: US$0.16 (up from US$0.008 in FY 2021). Revenue: US$99.4m (up 13% from FY 2021). Net income: US$2.87m (up US$2.72m from FY 2021). Profit margin: 2.9% (up from 0.2% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Duyuru • Feb 08
PCTEL, Inc. Announces Its New Verstack Antenna Platform for Smarter Rail Communications and IIoT applications PCTEL, Inc. announced its new VerStack antenna platform for smarter rail communications and IIoT applications. The VerStack platform consists of the most advanced 5G and GNSS vertically stacked antennas in the market. It utilizes the company's broadband element technology to provide top-of-the-line RF performance in rail and IIoT applications. These antennas have been designed in a rugged UV-resistant fiberglass housing making them ideal for harsh environmental conditions. Upcoming Dividend • Jan 31
Upcoming dividend of US$0.055 per share at 4.8% yield Eligible shareholders must have bought the stock before 07 February 2023. Payment date: 15 February 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.8%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.1%). Duyuru • Jan 21
PCTEL Inc. Declares Regular Quarterly Dividend, Payable on February 15, 2023 PCTEL, Inc. declared regular quarterly dividend of $0.055 per share on its common stock. This dividend will be payable on February 15, 2023 to shareholders of record at the close of business on February 8, 2023. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Director Cindi Keith was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.11 (vs US$0.037 in 3Q 2021) Third quarter 2022 results: EPS: US$0.11 (up from US$0.037 in 3Q 2021). Revenue: US$26.0m (up 16% from 3Q 2021). Net income: US$1.97m (up 197% from 3Q 2021). Profit margin: 7.6% (up from 3.0% in 3Q 2021). Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Communications industry in the US. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Duyuru • Nov 04
Pctel, Inc. Provides Earnings Guidance for the Fourth Quarter 2022 PCTEL, Inc. provided earnings guidance for the fourth quarter 2022. For the quarter, company expects Revenue to be in range of $25.5 million to $26.5 million. Upcoming Dividend • Oct 31
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 07 November 2022. Payment date: 15 November 2022. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.6%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (3.3%). Duyuru • Oct 28
PCTEL, Inc. Helps Public Safety Officials Manage In-Building Communications Coverage Testing with Cloud Platform PCTEL, Inc. announced a major new update to SeeHawk™ Central, a cloud-based automation platform that helps manage the process of testing and approving in-building communications coverage for first responders. SeeHawk Central’s new features enable public safety officials to efficiently communicate requirements, review test results, and track buildings in their jurisdiction. As part of a broader push to ensure reliable public safety communications for first responders, fire marshals and other Authorities Having Jurisdiction (AHJ) increasingly require in-building coverage testing as a condition for a building occupancy permit. If coverage does not meet requirements, an Emergency Responder Communication Enhancement System (ERCES) must be installed and approved, and the building re-tested. Multiple stakeholders must work together to usher buildings and ERCES through this approval process, including building owners, AHJs, providers of testing services, and managers of public safety radio networks. SeeHawk Central provides a secure cloud platform where all of these stakeholders can collaborate to streamline the testing and approval process. New features include: Simplified tracking and management of test plans and results by jurisdiction, All-new, streamlined reporting interface, Support for more data, including equipment room tests and 3rd party test results, Specialized tools to compare results before and after an ERCES is installed and Automatic notifications with reminders of re-testing dates. The second release of SeeHawk Central will be available in November 2022 for all SeeHawk Central users. To celebrate this launch, for a limited time PCTEL is offering a FREE 6-month SeeHawk Central subscription with each purchase of a PCTEL® public safety network testing solution kit. Duyuru • Oct 22
PCTEL, Inc. Declares Regular Quarterly Dividend, Payable on November 15, 2022 PCTEL, Inc. announced the declaration of its regular quarterly dividend of $0.055 per share on its common stock. This dividend will be payable on November 15, 2022 to shareholders of record at the close of business on November 8, 2022. Duyuru • Oct 19
PCTEL, Inc. to Report Q3, 2022 Results on Nov 03, 2022 PCTEL, Inc. announced that they will report Q3, 2022 results on Nov 03, 2022 Duyuru • Sep 27
PCTEL Announces Its New MultiFin Antenna for Intelligent Transportation Systems Communications PCTEL, Inc. announced its new MultiFin configurable antenna for public safety, fleet management and intelligent transportation applications. The MultiFin 7-in-1 antenna offers a robust RF performance in a discreet, rugged low-profile shark fin design. Configurable and optimized for multiband applications, this antenna allows for easy integration with customers' existing antenna systems. Seeking Alpha • Aug 19
PCTEL: Strong Trending Move May Be Only Starting (Technical Analysis) PCTEL sales saw a 15% increase in the second quarter.
Revenues could grow as much as $4 million or 17% in the third quarter.
Sales growth is meaningfully impacting margins and earnings.
We believe plenty of upside remains on the cards here.
Intro
We wrote about PCTEL, Inc. (PCTI) back in mid-June, when we stated that longstanding shareholders were close to being rewarded. The reason behind our premise from a technical standpoint was the very strong underside support on the technical chart. What is depicted below with respect to this support is only an eight-year chart, but in reality, long-term support in PCTEL dates back the best part of two decades at this stage.
As we see below, shares have been in bull mode since June, tacking on more than $1 a share since that mid-year bottom. Furthermore, this rally has resulted in a convincing crossover of the weekly MACD indicator and a rise above the stock's 200-day moving average of approximately $4.73. Investors who believe they have missed their opportunity in this play should think twice for the following reason. The intermediate MACD indicator remains in deeply oversold territory which means we expect more gains to come when that decisive "center-line" is taken out to the upside.
We state this because the chart below not only informs us on how PCTEL´s fundamentals are changing for the better but it also is an excellent read on human psychology. For example, look how investors got on board the momentum trade in PCTI when we had convincing MACD "center-line" crossovers in late 2016, mid-2019, and then in late 2020. In all three circumstances, a strong rally ensued to the upside. We believe the same conditions if not much stronger are on the cards here for PCTEL as we see through the company´s recent trends on its income statement.
PCTEL Prints a long-term bottom (Stockcharts.com)
Growth Ramping Up
Essentially it all boils down to growth rates, which is something PCTEL has suffered with down through the years but not anymore. We see this clearly in the company´s recent second-quarter earnings where sales of $25 million for the quarter were both an 11% sequential increase as well as a 25% gain over the same period of 12 months prior. Furthermore, the $26 million top-line estimate for the third quarter means that it will most likely become seven straight quarters of consecutive year-over-year sales growth which the market is obviously beginning to price in at this stage.
Sales are essentially the lifeblood of any company as, without sufficient sales, positive earnings become an impossibility. Although PCTEL´s profitability may not be buoyant at present, remember the market is a forward-looking predictive mechanism and is pricing in the ramifications of how the company´s growing sales will change the company.
Over the past four quarters, for example, PCTEL is actually not profitable but near-term trends show the company reporting GAAP earnings of $0.02 per share in Q2 with a further +$0.05 per share expected for the third quarter. In fact, bottom-line earnings are expected to grow by 11% this year followed by much higher expected bottom-line growth in fiscal 2023 (40%+).
Dividend Well Covered By Growing Earnings & Margins
Sales on the other hand are expected to grow by roughly 14% this year followed by roughly 10% in fiscal 2023. Suffice it to say, the glaring trend with respect to present income statement trends, management´s guidance, as well as analysts´ expectations, is that margins are expected to grow meaningfully going forward. This is all coming off the back of successful product releases as well as far more encouraging market conditions. Through being innovative concerning the value that PCTEL is adding to the marketplace and growing distribution, the runway for growth here is long and the market is beginning to price this in. Reported Earnings • Aug 11
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: US$0.023 (up from US$0.009 loss in 2Q 2021). Revenue: US$25.0m (up 15% from 2Q 2021). Net income: US$411.0k (up US$580.0k from 2Q 2021). Profit margin: 1.6% (up from net loss in 2Q 2021). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 9.4%, compared to a 7.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Aug 10
PCTEL, Inc. Provides Revenue Guidance for the Third Quarter 2022 PCTEL, Inc. provides revenue guidance for the third quarter 2022. The company expects Revenue of $25.5 million to $26.5 million. Duyuru • Aug 02
PCTEL, Inc. Announces Spectrum Monitoring and Uplink Testing Solution for Critical Communications Networks PCTEL, Inc. announced the launch of SeeHawk Monitor, an automated spectrum monitoring system for P25 public safety radio and other critical communications networks. SeeHawk Monitor also enables automatic testing of the uplink signal, which is the signal from a handset to the radio site, for the purpose of determining that in-building coverage complies with fire code standards. First responders rely on radio communications to protect their teams and the communities they support. Interference on the radio network can have life threatening consequences if public safety personnel can’t communicate with incident command or with each other. The SeeHawk Monitor system automatically detects and helps users to identify interference from sources such as other communications networks, bidirectional amplifiers (BDAs), and high-powered industrial systems, so radio network managers can mitigate these sources of interferences to ensure reliable critical communications for first responders. SeeHawk Monitor users can: Continuously monitor spectrum across multiple radio sites; Rapidly detect and characterize service impacting noise and interference; Investigate problems with spectrum analysis in real-time or event replay modes; Automatically test the uplink signal during in-building coverage testing. The SeeHawk Monitor system is easy to install and is scalable to the needs of any network. It is composed of multiple Remote Test Units (RTUs), which monitor spectrum and measure radio signals at each radio site, and the SeeHawk Monitor Platform Manager, which monitors and configures all RTUs in the system. SeeHawk Monitor’s uplink testing feature makes it easier to ensure high-quality indoor coverage that complies with National Fire Protection Agency (NFPA) and International Fire Code (IFC) standards. The SeeHawk Monitor Platform Manager remotely manages automated uplink data collection on RTUs throughout the network. This enables a tester using a single PCTEL public safety network testing solution to automatically collect uplink and downlink measurements in one survey of a building. Upcoming Dividend • Jul 29
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 05 August 2022. Payment date: 15 August 2022. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.8%. Within top quartile of American dividend payers (4.1%). Higher than average of industry peers (3.4%). Duyuru • Jul 26
PCTEL, Inc. to Report Q2, 2022 Results on Aug 09, 2022 PCTEL, Inc. announced that they will report Q2, 2022 results on Aug 09, 2022 Duyuru • Jul 23
PCTEL, Inc. Declares Regular Quarterly Dividend, Payable on August 15, 2022 PCTEL, Inc. announced the declaration of its regular quarterly dividend of $0.055 per share on its common stock. This dividend will be payable on August 15, 2022 to shareholders of record at the close of business on August 8, 2022. Reported Earnings • May 12
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: US$0.087 loss per share (down from US$0.037 loss in 1Q 2021). Revenue: US$22.5m (up 27% from 1Q 2021). Net loss: US$1.56m (loss widened 136% from 1Q 2021). Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) missed analyst estimates by 80%. Over the next year, revenue is forecast to grow 8.5%, compared to a 8.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Duyuru • May 12
PCTEL, Inc. Provides Earnings Guidance for the Second Quarter of 2022 PCTEL, Inc. provided earnings guidance for the second quarter of 2022. For the period, the company expects revenue to be in the range of $24 million and $25 million. Upcoming Dividend • Apr 28
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 13 May 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.2%. Within top quartile of American dividend payers (3.8%). Higher than average of industry peers (3.0%). Price Target Changed • Apr 27
Price target increased to US$9.00 Up from US$8.00, the current price target is provided by 1 analyst. New target price is 112% above last closing price of US$4.24. Stock is down 36% over the past year. The company is forecast to post earnings per share of US$0.06 for next year compared to US$0.0085 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Director Cindi Keith was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Apr 22
PCTEL, Inc. Declares Regular Quarterly Dividend, Payable on May 13, 2022 PCTEL, Inc. announced the declaration of its regular quarterly dividend of $0.055 per share on its common stock. This dividend will be payable on May 13, 2022 to shareholders of record at the close of business on May 6, 2022. Duyuru • Apr 16
PCTEL, Inc., Annual General Meeting, May 25, 2022 PCTEL, Inc., Annual General Meeting, May 25, 2022, at 11:00 Central Standard Time. Location: 471 Brighton Drive, Bloomingdale Illinois United States Agenda: To consider the election of the two Class II director nominees named in the proxy statement to serve as directors for three-year terms that will expire at the 2025 annual meeting of stockholders; to consider a non-binding, advisory vote to approve the company’s named executive officer compensation; to consider the ratification of the appointment of Grant Thornton LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2022; and to consider the transaction of such other business as may properly come before the meeting or any adjournment or postponement thereof. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: US$0.008 (down from US$0.19 in FY 2020). Revenue: US$87.8m (up 13% from FY 2020). Net income: US$153.0k (down 96% from FY 2020). Profit margin: 0.2% (down from 4.4% in FY 2020). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 75%. Over the next year, revenue is forecast to grow 11%, compared to a 9.6% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • Feb 25
PCTEL, Inc. Provides Earnings Guidance for the First Quarter of 2022 PCTEL, Inc. provided earnings guidance for the first quarter of 2022. For the period, the company's revenue guidance will be in the range of $21 million to $21.5 million. Duyuru • Feb 11
PCTEL, Inc. to Report Q4, 2021 Results on Feb 24, 2022 PCTEL, Inc. announced that they will report Q4, 2021 results on Feb 24, 2022 Upcoming Dividend • Jan 31
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 07 February 2022. Payment date: 15 February 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.4%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.5%). Duyuru • Jan 26
New Trooper™ Max 5G Antenna Platform From PCTEL Available Through Allied Electronics & Automation PCTEL Inc. has a new 5G, configurable, low-profile antenna platform — the Trooper™ Max 5G FR1 — available through Allied Electronics & Automation. The full 5G FR1 antenna platform covers multiple frequency bands from 617 MHz up to 6 GHz without field tuning. The Trooper Max 5G is ideal for intelligent transportation and public safety applications because of the option to add land mobile radio (LMR) connectivity through an external whip port.For over 30 years, PCTEL has been a leading supplier of combination antennas to OEMs in the industrial and enterprise segments, as well as a top supplier of antennas for the public safety market. The new Trooper Max platform includes two high-efficiency cellular ports and two dual-band 2.4/5 GHz Wi-Fi ports, with an option for an external port for either TETRA or UHF LMR frequency bands. The antenna supports the leading 5G cellular routers in addition to P25 public safety LMRs. It also includes high-rejection GNSS capability for precise location and asset tracking in transportation applications. The small footprint of the Trooper Max fits securely in between the narrow rooftop ridges of the highest-selling public safety SUVs, satisfying the installation requirements of the application while providing the RF efficiency and the number of connection ports required for optimal critical communications. Plus, its aerodynamic shark fin profile makes it suitable for intelligent transportation applications with strict aesthetic requirements. The IP67-compliant Trooper Max features a double-walled compression gasket designed to provide extra protection against water around the perimeter of the antenna. This protects the antenna and keeps moisture from filtering into the mounting surface through the installation hole. The high-impact, UV-stable housing has been tested to MIL-STD-810G environmental specifications to ensure long-lasting performance in critical public safety and transportation applications. The antenna also incorporates low-loss cable pigtails and connectors for optimal durability and RF efficiency. Duyuru • Jan 07
PCTEL Introduces New 5G Permanent Mount Combination Antenna for Industrial IoT PCTEL, Inc. introduced its new 5G low-profile antenna platform for industrial IoT applications. The new Medallion™ II antenna platform has been designed to PCTEL’s high quality and performance standards. With its optimized multiband capabilities, the antennas are ideal for cabinet mount industrial IoT applications. Due to its low-profile form factor, the Medallion II platform is recommended for permanent mount installations with limited overhead clearance. The antennas include two 5G FR1 ready ports, an optional dual band 2.4/5 GHz port for WiFi coverage and GNSS compatibility covering global systems. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS US$0.037 (vs US$0.057 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$22.4m (up 18% from 3Q 2020). Net income: US$664.0k (down 36% from 3Q 2020). Profit margin: 3.0% (down from 5.5% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 29
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 05 November 2021. Payment date: 15 November 2021. Trailing yield: 3.8%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.6%). Duyuru • Sep 25
PCTEL Introduces New 5G Configurable Sharkfin Antenna for Intelligent Transportation PCTEL, Inc. introduced its new 5G, configurable, and low-profile antenna platform for Intelligent Transportation and Public Safety applications. The new Trooper™ Max 5G FR1 antenna platform has been designed to PCTEL’s high quality and performance standards. Configurable and optimized for multiband applications, the platform is ideal for Intelligent Transportation Systems (ITS) and Public Safety applications because of the option to add Land Mobile Radio (LMR) connectivity through an external whip port. With a slender shark fin form factor, this antenna platform is recommended for installation on today’s leading Public Safety fleets. The Trooper Max antenna platform is compatible with the world’s leading cellular routers supporting 600 MHz to 6 GHz frequencies. It also covers Wi-Fi 6 frequency ranges. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from US$0.09 to US$0.04 per share. Revenue forecast steady at US$86.5m. Net income forecast to shrink 1.5% next year vs 13% growth forecast for Communications industry in the US . Consensus price target of US$9.00 unchanged from last update. Share price fell 5.6% to US$6.45 over the past week. Reported Earnings • Aug 12
Second quarter 2021 earnings released: US$0.009 loss per share (vs US$0.066 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$21.7m (up 9.3% from 2Q 2020). Net loss: US$169.0k (down 114% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 29
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 05 August 2021. Payment date: 13 August 2021. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.7%). Recent Insider Transactions • May 27
VP & Chief Information Officer recently sold US$133k worth of stock On the 26th of May, Sumeet Paul sold around 20k shares on-market at roughly US$6.64 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.4m more than they bought in the last 12 months. Duyuru • May 08
404604 PCTEL, Inc. Provides Revenue Guidance for the Second Quarter of 2021 PCTEL, Inc. provided revenue guidance for the second quarter of 2021. For the second quarter of 2021, the company expects revenues between $21 million and $22 million of which the company expects Smarteq to contribute revenues in an approximate range of $1 million to $1.4 million for the balance of the quarter. Reported Earnings • May 07
First quarter 2021 earnings released: US$0.037 loss per share (vs US$0.038 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$17.7m (up 1.1% from 1Q 2020). Net loss: US$662.0k (loss narrowed 3.8% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • May 05
PCTEL, Inc. (NasdaqGS:PCTI) acquired Smarteq Wireless Ab from Allgon AB (publ). PCTEL, Inc. (NasdaqGS:PCTI) acquired Smarteq Wireless Ab from Allgon AB (publ) on May 3, 2021.
PCTEL, Inc. (NasdaqGS:PCTI) completed the acquisition of Smarteq Wireless Ab from Allgon AB (publ) on May 3, 2021. Upcoming Dividend • Apr 29
Upcoming dividend of US$0.055 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 14 May 2021. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.9%). Reported Earnings • Mar 14
Full year 2020 earnings released: EPS US$0.19 (vs US$0.21 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: US$77.5m (down 14% from FY 2019). Net income: US$3.42m (down 8.9% from FY 2019). Profit margin: 4.4% (up from 4.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 14
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 71%. Over the next year, revenue is forecast to grow 10.0%, compared to a 7.2% growth forecast for the Communications industry in the US. Duyuru • Mar 10
PCTEL, Inc. Announces 5G Dual Polarization Beamforming Testing Solution for 3.5 GHz Frequencies PCTEL, Inc. announced its new solution for testing 5G networks that utilize dual polarization beamforming configurations on widely deployed mid-band frequencies such as 3.5 GHz and CBRS. Dual polarization beamforming can provide optimal 5G coverage, while reducing power consumption, but it poses test and measurement challenges for traditional drive and walk testing systems. PCTEL’s solution enables accurate field testing of dual polarization beamforming network configurations implemented by a major European 5G network infrastructure provider. The solution features a specially designed horizontally polarized antenna and new signal processing techniques that enable PCTEL® scanning receivers to capture dual polarized signals in a manner similar to a mobile phone, while maintaining the accuracy and performance of a purpose-built scanner. Dual polarization beamforming testing is available on IBflex® and HBflex™ scanning receivers. Horizontally polarized network testing antennas will be available early in the second quarter of 2021. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS US$0.19 (vs US$0.21 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: US$77.5m (down 14% from FY 2019). Net income: US$3.40m (down 9.4% from FY 2019). Profit margin: 4.4% (up from 4.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 71%. Over the next year, revenue is forecast to grow 12%, compared to a 6.3% growth forecast for the Communications industry in the US.