PC-Tel (PCTI) Announces Quarterly Earnings, Hits Estimates
PC-Tel (NASDAQ:PCTI) released its earnings data on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11, AR Network reports. The company had revenue of $26.18 million for the quarter, compared to the consensus estimate of $27.10 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis.
PC-Tel (NASDAQ:PCTI) traded up 1.12% on Tuesday, hitting $8.13. 81,275 shares of the company’s stock traded hands. PC-Tel has a 52 week low of $6.95 and a 52 week high of $10.12. The stock’s 50-day moving average is $7.68 and its 200-day moving average is $8.14. The company has a market cap of $148.7 million and a P/E ratio of 131.80. PC-Tel also was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 112,308 shares, a decline of 89.7% from the June 30th total of 1,095,054 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 123,082 shares, the days-to-cover ratio is presently 0.9 days.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Friday, August 8th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, August 6th.
PCTEL, Inc (NASDAQ:PCTI) is a provider of propagation and optimization solutions for the wireless industry.
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