PCTEL Inc. (PCTI: Quote) Friday reported trimming its first-quarter revenue guidance to between $16.5 million and $17.2 million from the prior forecast in the range of $19 million to $20 million. The company attributed the revision to carrier spending delays which pulled down order flow for its scanning receiver product line to approximately 60 percent of the historical run rate.
Chairman and CEO Marty Singer elaborated "While we are pleased with the continued progress of our antenna and PCTEL Secure product lines, we have to report that anticipated sales of our LTE Scanning Receivers have been delayed. This reflects carrier decisions regarding budget release and the timing of market by market LTE rollouts rather than an industry contraction."
Click here to receive FREE breaking news email alerts for PCTEL Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com