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Man finnialy I very good week thanks to SIGO and ADVM. Thanks for SIGO.
NeuroMetrix Reports Q4 and Full Year 2017 Financial Results
GlobeNewswireJanuary 25, 2018
WALTHAM, Mass., Jan. 25, 2018 (GLOBE NEWSWIRE) -- NeuroMetrix, Inc. (NURO), today reported financial and business highlights for the quarter ended December 31, 2017.
The Company develops and markets novel therapies, based on neurostimulation and digital medicine, for chronic health conditions. The Company’s primary product is Quell®, which is an over-the-counter wearable neurostimulation device for treating chronic pain. The Company also has a diagnostic business based on its DPNCheck® product, which is a point-of-care test that provides accurate and cost-effective screening, diagnosis and monitoring of diabetic peripheral neuropathy (DPN).
Highlights:
Q4 2017 revenue of $4.9 million grew 33% from $3.7 million in Q4 2016. Quell contributed $3.7 million and DPNCheck added $0.8 million revenue.
Full year 2017 revenue of $17.1 million grew 42% from $12.0 million in 2016. Quell contributed $12.4 million and DPNCheck contributed $3.1 million revenue.
Fourth quarter Quell shipments totaled 26,496 devices and 36,556 electrode reorder packages. This compared with 14,301 devices and 19,993 electrode reorder packages in Q4 2016.
Quell intellectual property assets were expanded in the fourth quarter with the issuance of a U.S. utility patent for novel technology that enhances Quell usability for those with an active lifestyle.
In early Q1 2018 the Company reported a strategic collaboration with GlaxoSmithKline (GSK) under which GSK Consumer Healthcare acquired Quell market rights outside the US while NeuroMetrix retained ownership for the US market. The companies will co-fund Quell technology development. GSK Consumer Healthcare paid $5 million for the Quell assets related to markets outside the US and will pay up to $21.5 million upon the achievement of certain development and commercialization milestones.
"Our revenue growth in Q4 and full year 2017 reflects strong Quell unit volume growth throughout the periods. It continues the upward trend of the past two and a half years since Quell launch in Q2 2015," said Shai N. Gozani, M.D., Ph.D., President and Chief Executive Officer of NeuroMetrix. "We are pleased to begin our partnership with GSK Consumer Healthcare. This will expand access to Quell technology among chronic pain sufferers around the world while we continue to focus on building Quell into a leading U.S. consumer healthcare brand. It will also strengthen our capital structure.”
Financial Highlights:
The Company reported its financial highlights results for Q4 2017. Total revenues were $4.9 million versus $3.7 million for Q4 2016, an increase of 33%. Gross margin was 42.0% of total revenues versus 45.5% in Q4 2016, reflecting an increased weighting of Quell in revenues. Operating expenses were $5.0 million compared to $4.6 million in Q4 2016. Net loss was approximately $2.9 million in Q4 2017 compared to $2.8 million in Q4 2016. Net cash usage in Q4 2017 was $3.3 million, an improvement from $3.6 million in Q4 2016. The Company ended Q4 2017 with cash and cash equivalents of $4.0 million. The GSK payment in early Q1 2018 described above, increased the Company’s cash resources to approximately $9.0 million on a pro forma basis.
For the years ended December 31, total revenues were $17.1 million in 2017 compared to $12.0 million in 2016. Net loss was $12.9 million in 2017, an improvement of $2.0 million from $14.9 million in 2016.
Company to Host Live Conference Call and Webcast
NeuroMetrix management will host a conference call today, January 25, 2018 at 8:00 a.m., Eastern Time. To access the call in the United States, dial 844-787-0799 and use the confirmation code 9869499. Internationally, the conference call may be accessed by dialing (661) 378-9630 and using the same confirmation code. The call will also be webcast and will be accessible from the Company's website at http://www.NeuroMetrix.com under the "Investor Relations" tab. A replay of the conference call will be available starting two hours after the call by dialing 855-859-2056, domestically and 404-537-3406, internationally. The confirmation code to access the replay is 9869499. The replay will be available for one week after the conference call.
NeuroMetrix Reports Q4 and Full Year 2017 Financial Results
GlobeNewswireJanuary 25, 2018
WALTHAM, Mass., Jan. 25, 2018 (GLOBE NEWSWIRE) -- NeuroMetrix, Inc. (NURO), today reported financial and business highlights for the quarter ended December 31, 2017.
The Company develops and markets novel therapies, based on neurostimulation and digital medicine, for chronic health conditions. The Company’s primary product is Quell®, which is an over-the-counter wearable neurostimulation device for treating chronic pain. The Company also has a diagnostic business based on its DPNCheck® product, which is a point-of-care test that provides accurate and cost-effective screening, diagnosis and monitoring of diabetic peripheral neuropathy (DPN).
Highlights:
Q4 2017 revenue of $4.9 million grew 33% from $3.7 million in Q4 2016. Quell contributed $3.7 million and DPNCheck added $0.8 million revenue.
Full year 2017 revenue of $17.1 million grew 42% from $12.0 million in 2016. Quell contributed $12.4 million and DPNCheck contributed $3.1 million revenue.
Fourth quarter Quell shipments totaled 26,496 devices and 36,556 electrode reorder packages. This compared with 14,301 devices and 19,993 electrode reorder packages in Q4 2016.
Quell intellectual property assets were expanded in the fourth quarter with the issuance of a U.S. utility patent for novel technology that enhances Quell usability for those with an active lifestyle.
In early Q1 2018 the Company reported a strategic collaboration with GlaxoSmithKline (GSK) under which GSK Consumer Healthcare acquired Quell market rights outside the US while NeuroMetrix retained ownership for the US market. The companies will co-fund Quell technology development. GSK Consumer Healthcare paid $5 million for the Quell assets related to markets outside the US and will pay up to $21.5 million upon the achievement of certain development and commercialization milestones.
"Our revenue growth in Q4 and full year 2017 reflects strong Quell unit volume growth throughout the periods. It continues the upward trend of the past two and a half years since Quell launch in Q2 2015," said Shai N. Gozani, M.D., Ph.D., President and Chief Executive Officer of NeuroMetrix. "We are pleased to begin our partnership with GSK Consumer Healthcare. This will expand access to Quell technology among chronic pain sufferers around the world while we continue to focus on building Quell into a leading U.S. consumer healthcare brand. It will also strengthen our capital structure.”
Financial Highlights:
The Company reported its financial highlights results for Q4 2017. Total revenues were $4.9 million versus $3.7 million for Q4 2016, an increase of 33%. Gross margin was 42.0% of total revenues versus 45.5% in Q4 2016, reflecting an increased weighting of Quell in revenues. Operating expenses were $5.0 million compared to $4.6 million in Q4 2016. Net loss was approximately $2.9 million in Q4 2017 compared to $2.8 million in Q4 2016. Net cash usage in Q4 2017 was $3.3 million, an improvement from $3.6 million in Q4 2016. The Company ended Q4 2017 with cash and cash equivalents of $4.0 million. The GSK payment in early Q1 2018 described above, increased the Company’s cash resources to approximately $9.0 million on a pro forma basis.
For the years ended December 31, total revenues were $17.1 million in 2017 compared to $12.0 million in 2016. Net loss was $12.9 million in 2017, an improvement of $2.0 million from $14.9 million in 2016.
Company to Host Live Conference Call and Webcast
NeuroMetrix management will host a conference call today, January 25, 2018 at 8:00 a.m., Eastern Time. To access the call in the United States, dial 844-787-0799 and use the confirmation code 9869499. Internationally, the conference call may be accessed by dialing (661) 378-9630 and using the same confirmation code. The call will also be webcast and will be accessible from the Company's website at http://www.NeuroMetrix.com under the "Investor Relations" tab. A replay of the conference call will be available starting two hours after the call by dialing 855-859-2056, domestically and 404-537-3406, internationally. The confirmation code to access the replay is 9869499. The replay will be available for one week after the conference call.
BCRX halted. News pending.
BCRX halted. News pending.
NURO. NeuroMetrix, Inc. Announces Date for Fourth Quarter and Full Year 2017 Financial Results Conference Call
11:40 am, January 18, 2018
Portfolios: Ptx
Tickers: NURO
Read the full article
WALTHAM, Mass., Jan. 18, 2018 (GLOBE NEWSWIRE) -- NeuroMetrix, Inc. (NASDAQ:NURO) announced today that it plans to issue its fourth quarter and full year 2017 financial results before the opening of the market on January 25, 2018. The Company will host a conference call at 8:00 a.m., Eastern Time on January 25, 2018 to discuss its financial results as well as business developments affecting the Company.
The conference call may be accessed in the United States by dialing 844-787-0799 and using the confirmation code 9869499. Internationally, the conference call may be accessed by dialing 661-378-9630 and using the same confirmation code. The earnings press release and accompanying condensed financial statements will be accessible from the Company's website at www.NeuroMetrix.com under the "Investor Relations" tab.
A replay of the conference call will be available starting two hours after the call by dialing 855-859-2056, domestically and 404-537-3406, internationally. The confirmation code to access the replay is 9869499. The replay will be available for one week after the conference call.
How many warrants were exercised today? Guess at new share count?
ZIOP. Good stuff coming out of the JPM conference. https://www.investorvillage.com/smbd.asp?mb=16353&pt=m
I hope your right.
LPCN ADCOM thread on Yahoo. https://finance.media.yahoo.com/quote/LPCN/community?p=LPCN
Not good for patients. Who ever gets the first cure will instantly become one of the largest MC companies. Pfizer ends research for new Alzheimer‘s, Parkinson‘s…
January 9, 2018 Staff Writer
LPCN 3.60 AH. GL to us longs tomorrow!
NURO. NeuroMetrix Reports Preliminary 2017 Financial Highlights
WALTHAM, Mass., Jan. 8, 2018 (Globe Newswire) -- NeuroMetrix, Inc. (NASDAQ:NURO) today reported preliminary financial highlights for the fourth quarter and for the full year 2017.
GAAP revenue for the fourth quarter of 2017 is estimated at approximately $4.9 million in comparison with $3.7 million in Q4 2016. During the fourth quarter of 2017 the Company shipped approximately 26,500 Quell® devices and 36,600 electrode packages in comparison with 14,300 devices and 20,000 electrode packages in Q4 2016.
For the full year 2017, revenue is estimated at approximately $17.1 million in comparison with $12.0 million in 2016. Approximately 80,900 Quell devices were shipped in 2017 versus 45,700 devices in 2016. Also, approximately 121,400 electrode packages were shipped in 2017 versus 52,700 electrode packages in 2016. The Company reported approximately $4.0 million in cash and cash equivalents at the end of 2017.
“Early results indicate an over 40% revenue increase from 2016 reflecting strong Quell unit volume growth in the fourth quarter and for the full year 2017. This continues the upward trend we’ve reported since the product was launched in Q2 2015,” said Shai N. Gozani, M.D., Ph.D. President and CEO of NeuroMetrix, Inc.
Note Regarding Forward-Looking Statements
This press release contains estimates underlying the Q4 and full year 2017 financial results and other forward-looking statements. Actual results may differ from those indicated as a result of finalization of fourth quarter and full year financial statements as well as other risks and uncertainties, including those described from time to time in reports filed by NeuroMetrix with the Securities and Exchange Commission. NeuroMetrix undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the Company's business, please refer to the Company's filings with the Securities and Exchange Commission.
NURO. NeuroMetrix Reports Preliminary 2017 Financial Highlights
WALTHAM, Mass., Jan. 8, 2018 (Globe Newswire) -- NeuroMetrix, Inc. (NASDAQ:NURO) today reported preliminary financial highlights for the fourth quarter and for the full year 2017.
GAAP revenue for the fourth quarter of 2017 is estimated at approximately $4.9 million in comparison with $3.7 million in Q4 2016. During the fourth quarter of 2017 the Company shipped approximately 26,500 Quell® devices and 36,600 electrode packages in comparison with 14,300 devices and 20,000 electrode packages in Q4 2016.
For the full year 2017, revenue is estimated at approximately $17.1 million in comparison with $12.0 million in 2016. Approximately 80,900 Quell devices were shipped in 2017 versus 45,700 devices in 2016. Also, approximately 121,400 electrode packages were shipped in 2017 versus 52,700 electrode packages in 2016. The Company reported approximately $4.0 million in cash and cash equivalents at the end of 2017.
“Early results indicate an over 40% revenue increase from 2016 reflecting strong Quell unit volume growth in the fourth quarter and for the full year 2017. This continues the upward trend we’ve reported since the product was launched in Q2 2015,” said Shai N. Gozani, M.D., Ph.D. President and CEO of NeuroMetrix, Inc.
Note Regarding Forward-Looking Statements
This press release contains estimates underlying the Q4 and full year 2017 financial results and other forward-looking statements. Actual results may differ from those indicated as a result of finalization of fourth quarter and full year financial statements as well as other risks and uncertainties, including those described from time to time in reports filed by NeuroMetrix with the Securities and Exchange Commission. NeuroMetrix undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the Company's business, please refer to the Company's filings with the Securities and Exchange Commission.
NeuroMetrix Reports Preliminary 2017 Financial Highlights
WALTHAM, Mass., Jan. 8, 2018 (Globe Newswire) -- NeuroMetrix, Inc. (NASDAQ:NURO) today reported preliminary financial highlights for the fourth quarter and for the full year 2017.
GAAP revenue for the fourth quarter of 2017 is estimated at approximately $4.9 million in comparison with $3.7 million in Q4 2016. During the fourth quarter of 2017 the Company shipped approximately 26,500 Quell® devices and 36,600 electrode packages in comparison with 14,300 devices and 20,000 electrode packages in Q4 2016.
For the full year 2017, revenue is estimated at approximately $17.1 million in comparison with $12.0 million in 2016. Approximately 80,900 Quell devices were shipped in 2017 versus 45,700 devices in 2016. Also, approximately 121,400 electrode packages were shipped in 2017 versus 52,700 electrode packages in 2016. The Company reported approximately $4.0 million in cash and cash equivalents at the end of 2017.
“Early results indicate an over 40% revenue increase from 2016 reflecting strong Quell unit volume growth in the fourth quarter and for the full year 2017. This continues the upward trend we’ve reported since the product was launched in Q2 2015,” said Shai N. Gozani, M.D., Ph.D. President and CEO of NeuroMetrix, Inc.
Note Regarding Forward-Looking Statements
This press release contains estimates underlying the Q4 and full year 2017 financial results and other forward-looking statements. Actual results may differ from those indicated as a result of finalization of fourth quarter and full year financial statements as well as other risks and uncertainties, including those described from time to time in reports filed by NeuroMetrix with the Securities and Exchange Commission. NeuroMetrix undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the Company's business, please refer to the Company's filings with the Securities and Exchange Commission.
MICT.
Micronet Enertec Technologies Signs Definitive Agreement to Sell its Defense and Aerospace Subsidiary, Enertec Systems
MONTVALE, N.J., Jan. 2, 2018 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), (the "Company"), announced today that it has entered into a definitive agreement with Coolisys Technologies, Inc., a subsidiary of DPW Holdings, Inc. (NYSE American: DPW), to sell its wholly owned subsidiary, Enertec Systems 2001 Ltd. Pursuant to the terms of the agreement, Coolisys will pay the Company $5,250,000 in cash upon closing (of which 10% will be held in escrow for up to 14 months after the Closing to satisfy certain potential indemnification claims) and assume $4,000,000 in Enertec bank debt, paying effectively a total of $9,250,000 for all of Enertec's assets and liabilities. The transaction is scheduled to close the later of 60 days as of signing or 15 days after delivery of Enertec System's audited financial statements.
"We are extremely excited to enter into this agreement, which strongly supports and fully aligns with our roadmap to increase the value of our Company by focusing all our resources on the MRM space. As the second phase of the Electronic Logging Device (ELD) mandate is now in effect, we believe 2018 will produce an even greater market demand, which we believe may increase the revenues and profitability of our MRM business in the coming years," said David Lucatz, Chief Executive Officer of Micronet Enertec Technologies.
"This transaction fortifies our balance sheet by increasing our cash position and significantly reducing debt, while improving our income statement by eliminating all General and Administrative costs associated with Enertec. In addition, we believe our improved cash position will enable us to expand our MRM offerings," continued David Lucatz.
"The sale of Enertec to Coolisys empowers the Company to grow its MRM business more aggressively both organically and through acquisition. As our MRM revenues continue to increase each quarter, we aim to use this momentum and further invest all our focus and efforts to become a leader in the MRM space," Lucatz added.
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) provides high tech solutions for severe environments and the battlefield, including missile defense technologies for Aerospace & Defense and rugged mobile devices for the growing commercial Mobile Resource Management (MRM) market. MICT designs, develops, manufactures and supplies customized military computer-based systems, simulators, automatic test equipment and electronic instruments, addressing a multi-billion-dollar defense industry. Solutions and systems are integrated into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for the Israeli Air Force, Israeli Navy and by foreign defense entities. MICT's MRM division develops, manufactures and provides mobile computing platforms for the multibillion dollar mobile logistics management market in the U.S., Europe and Israel. American-manufactured systems are designed for outdoor and challenging work environments in trucking, distribution, logistics, public safety and construction
MICT.
Micronet Enertec Technologies Signs Definitive Agreement to Sell its Defense and Aerospace Subsidiary, Enertec Systems
MONTVALE, N.J., Jan. 2, 2018 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), (the "Company"), announced today that it has entered into a definitive agreement with Coolisys Technologies, Inc., a subsidiary of DPW Holdings, Inc. (NYSE American: DPW), to sell its wholly owned subsidiary, Enertec Systems 2001 Ltd. Pursuant to the terms of the agreement, Coolisys will pay the Company $5,250,000 in cash upon closing (of which 10% will be held in escrow for up to 14 months after the Closing to satisfy certain potential indemnification claims) and assume $4,000,000 in Enertec bank debt, paying effectively a total of $9,250,000 for all of Enertec's assets and liabilities. The transaction is scheduled to close the later of 60 days as of signing or 15 days after delivery of Enertec System's audited financial statements.
"We are extremely excited to enter into this agreement, which strongly supports and fully aligns with our roadmap to increase the value of our Company by focusing all our resources on the MRM space. As the second phase of the Electronic Logging Device (ELD) mandate is now in effect, we believe 2018 will produce an even greater market demand, which we believe may increase the revenues and profitability of our MRM business in the coming years," said David Lucatz, Chief Executive Officer of Micronet Enertec Technologies.
"This transaction fortifies our balance sheet by increasing our cash position and significantly reducing debt, while improving our income statement by eliminating all General and Administrative costs associated with Enertec. In addition, we believe our improved cash position will enable us to expand our MRM offerings," continued David Lucatz.
"The sale of Enertec to Coolisys empowers the Company to grow its MRM business more aggressively both organically and through acquisition. As our MRM revenues continue to increase each quarter, we aim to use this momentum and further invest all our focus and efforts to become a leader in the MRM space," Lucatz added.
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) provides high tech solutions for severe environments and the battlefield, including missile defense technologies for Aerospace & Defense and rugged mobile devices for the growing commercial Mobile Resource Management (MRM) market. MICT designs, develops, manufactures and supplies customized military computer-based systems, simulators, automatic test equipment and electronic instruments, addressing a multi-billion-dollar defense industry. Solutions and systems are integrated into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for the Israeli Air Force, Israeli Navy and by foreign defense entities. MICT's MRM division develops, manufactures and provides mobile computing platforms for the multibillion dollar mobile logistics management market in the U.S., Europe and Israel. American-manufactured systems are designed for outdoor and challenging work environments in trucking, distribution, logistics, public safety and construction.
Forward-looking Statements
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding the expected closing of the sale of Enertec to Coolisys, the Company's belief that 2018 will produce greater MRM market demand that may increase the revenues and profitability of the Company's MRM division in the coming years, the Company's intention to focus its resources on the MRM division and markets and increase its MRM offerings and, as a result of the sale of Enertec to Coolysis, grow its MRM business more aggressively both organically and through acquisition in an effort. to become a leader in the MRM space. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the Company's annual report on Form 10-K for the year ended December 31, 2016 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Cision View original content:http://www.prnewswire.com/news-releases/micronet-enertec-technologies-signs-definitive-agreement-to-sell-its-defense-and-aerospace-subsidiary-enertec-systems-300576376.html
SOURCE Micronet Enertec Technologies, Inc.
Copyright 2018 PR Newswire
BVXV. BiondVax Universal Flu Vaccine Patent Granted in India
NESS ZIONA, Israel, Jan. 2, 2018 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (BVXV) (BVXV), developer of M-001, the Universal Flu Vaccine candidate currently in preparation for a Phase 3 clinical trial, announced today that one of its key patents titled "A Synthetic or Recombinant Influenza Multi-Epitope Polypeptide" has been granted in India. The patent belongs to BiondVax's portfolio family titled "Multimeric Multi-Epitope Influenza Vaccines" and has now been granted in over 30 countries.
With a population of over 1.3 billion people, and high population density in some of the major cities, India is an important potential market for BiondVax and a universal flu vaccine may significantly improve public health.
Dr. Tamar Ben-Yedidia, CSO of BiondVax, commented, "We are pleased and thankful that the Government of India's Patent Office accepted the uniqueness of our universal flu vaccine solution and approved this main patent of BiondVax. Authorities worldwide recognize that currently marketed influenza vaccines fall short. I am proud that M-001, which is designed to cover current, future, seasonal and pandemic flu strains, is preparing to enter Phase 3 trials later in 2018."
There is a general recommendation for seasonal influenza vaccination in India for healthcare workers, pregnant women, and people with some chronic illnesses.[1] However, Northern and Southern Hemisphere flu strains dominate at different times and in different regions of the Indian subcontinent. A universal flu vaccine, designed to cover all flu strains, would provide consistent coverage, and be appropriate for vaccination throughout the year.
The patent describes influenza vaccines comprised of multiple copies of several epitopes, such as M-001 which contains nine common and conserved influenza virus epitopes.
About BiondVax Pharmaceuticals Ltd
BiondVax is an advanced clinical stage biopharmaceutical company developing a universal flu vaccine. The vaccine candidate, called M-001, is designed to provide multi-season protection against current and future, seasonal and pandemic influenza virus strains. BiondVax's proprietary technology utilizes a unique combination of conserved and common influenza virus peptides, activating both arms of the immune system for a cross-protecting and long-lasting effect. In a total of 6 completed Phase 1/2 and Phase 2 human clinical trials, covering 698 participants, the vaccine has been shown to be safe, well-tolerated, and immunogenic. BiondVax is traded on NASDAQ: BVXV and TASE: BVXV. Please visit www.biondvax.com.
XGTI.
xG Technology's IMT Vislink Business Begins Shipping World's-First HCAM HEVC 4K Wireless Camera Systems in Fulfillment of Cli...
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XG Technology, Inc. (NASDAQ:XGTI)
Intraday Stock Chart
Today : Friday 29 December 2017
Click Here for more XG Technology, Inc. Charts.
SARASOTA, Fla., Dec. 29, 2017 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced today that its IMT Vislink business has begun initial deliveries of HCAM, the world's-first 4K UHD wireless camera systems, to its customers.
IMT Vislink has today delivered its first HCAM systems of 2017 to Broadcast RF, and will enter 2018 with a growing run rate of orders for the systems. This reflects a continuing ramping of demand for the systems that began with their introduction in 2017 and many high-profile order commitments from worldwide clients. HCAM will be deployed at prestigious international sporting competitions in 2018, including the Winter Olympics and Commonwealth Games.
HCAM system deliveries would have been even higher, if not for the constrained supply of a critical subcomponent. This will negatively impact revenues attributable to HCAM systems in Q4 2017, and, consequently, IMT Vislink will enter 2018 with a significant backlog of orders that were unable to be manufactured and shipped this calendar year.
George Schmitt, Executive Chairman and CEO of xG Technology, said, "We are pleased to report that we have commenced delivery of our HCAM systems, and we fully expect the growing popularity of this all-new technology will play a significant role in our revenue plans in 2018 and beyond. HCAM systems are driving the worldwide migration from existing H.264 technology to HEVC and low-latency 4K UHD for wireless camera systems. At the same time, due to component supply issues, revenue from HCAM orders will be in excess of $3 million below those forecast for fiscal year 2017. We are working closely with our subcontractor partners to alleviate these supply challenges, and expect to accelerate HCAM system deliveries in Q1 2018. We will advise the market in due course on our progress in these efforts."
XGTI.
xG Technology's IMT Vislink Business Begins Shipping World's-First HCAM HEVC 4K Wireless Camera Systems in Fulfillment of Cli...
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XG Technology, Inc. (NASDAQ:XGTI)
Intraday Stock Chart
Today : Friday 29 December 2017
Click Here for more XG Technology, Inc. Charts.
SARASOTA, Fla., Dec. 29, 2017 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced today that its IMT Vislink business has begun initial deliveries of HCAM, the world's-first 4K UHD wireless camera systems, to its customers.
IMT Vislink has today delivered its first HCAM systems of 2017 to Broadcast RF, and will enter 2018 with a growing run rate of orders for the systems. This reflects a continuing ramping of demand for the systems that began with their introduction in 2017 and many high-profile order commitments from worldwide clients. HCAM will be deployed at prestigious international sporting competitions in 2018, including the Winter Olympics and Commonwealth Games.
HCAM system deliveries would have been even higher, if not for the constrained supply of a critical subcomponent. This will negatively impact revenues attributable to HCAM systems in Q4 2017, and, consequently, IMT Vislink will enter 2018 with a significant backlog of orders that were unable to be manufactured and shipped this calendar year.
George Schmitt, Executive Chairman and CEO of xG Technology, said, "We are pleased to report that we have commenced delivery of our HCAM systems, and we fully expect the growing popularity of this all-new technology will play a significant role in our revenue plans in 2018 and beyond. HCAM systems are driving the worldwide migration from existing H.264 technology to HEVC and low-latency 4K UHD for wireless camera systems. At the same time, due to component supply issues, revenue from HCAM orders will be in excess of $3 million below those forecast for fiscal year 2017. We are working closely with our subcontractor partners to alleviate these supply challenges, and expect to accelerate HCAM system deliveries in Q1 2018. We will advise the market in due course on our progress in these efforts."
XGTI.
xG Technology's IMT Vislink Business Completes Delivery of First Order Against $12.5 Million U.S. Army Contract
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XG Technology, Inc. (NASDAQ:XGTI)
Intraday Stock Chart
Today : Wednesday 27 December 2017
SARASOTA, Fla., Dec. 27, 2017 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced today that its IMT Vislink business has completed delivery of the first order against the previously announced $12.5 million U.S Army contract award. The contract covers the supply of hand-held intelligence, surveillance and reconnaissance receiver devices. Delivery of the first order was completed significantly in advance of the required delivery date of Feb. 15, 2018.
George Schmitt, Executive Chairman and CEO of xG Technology, said, "We are pleased to have successfully completed, shipped and delivered the first part of the Army order well in advance of the date by which we were obligated to deliver. We all appreciate the efforts of our team in both the United Kingdom and the U.S. to get the job done. We look forward to continuing to deliver these state-of-the-art devices to our people in uniform to help them in their job of protecting all of us."
XGTI.
xG Technology's IMT Vislink Business Completes Delivery of First Order Against $12.5 Million U.S. Army Contract
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Alert
XG Technology, Inc. (NASDAQ:XGTI)
Intraday Stock Chart
Today : Wednesday 27 December 2017
SARASOTA, Fla., Dec. 27, 2017 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced today that its IMT Vislink business has completed delivery of the first order against the previously announced $12.5 million U.S Army contract award. The contract covers the supply of hand-held intelligence, surveillance and reconnaissance receiver devices. Delivery of the first order was completed significantly in advance of the required delivery date of Feb. 15, 2018.
George Schmitt, Executive Chairman and CEO of xG Technology, said, "We are pleased to have successfully completed, shipped and delivered the first part of the Army order well in advance of the date by which we were obligated to deliver. We all appreciate the efforts of our team in both the United Kingdom and the U.S. to get the job done. We look forward to continuing to deliver these state-of-the-art devices to our people in uniform to help them in their job of protecting all of us."
MICT. I took a long position today. Thanks Ash for the DD. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136900906
Another form 4 buy the 13th. https://ih.advfn.com/p.php?pid=nmona&article=76290876&symbol=NURO
Another form 4 buy the 13th. https://ih.advfn.com/p.php?pid=nmona&article=76290876&symbol=NURO
NURO another form 4 buy.watch for MA50 break http://stockcharts.com/h-sc/ui?s=NURO ;
NURO another form 4 buy.watch for MA50 break http://stockcharts.com/h-sc/ui?s=NURO ;
NURO. Another form 4 buy. https://ih.advfn.com/p.php?pid=nmona&article=76271865&symbol=NURO
NURO. Another form 4 buy. https://ih.advfn.com/p.php?pid=nmona&article=76271865&symbol=NURO
NURO Friday 2 more form 4 buys. https://ih.advfn.com/p.php?pid=nmona&article=76262138&symbol=NURO