WTT - Earnings call transcript Q3 2021 | Wireless Telecom Group, Inc.

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Operator

Good morning, ladies and gentlemen, and welcome to the Wireless Telecom Group Third Quarter Earnings Call. [Operator Instructions] And we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Mike Kandell. Sir, the floor is yours.

Mike Kandell

Thank you, operator. thank discuss joining quarter Wireless results. and conference on XXXX everyone, to call Telecom morning, you us for today's financial Good Group's third me CEO. the With Tim company's is today Whelan,

plan, remind seek, be Before or I such future and In expect, our today as that regarding assumptions Litigation company's management's to future other circumstances will, of include current we could anticipate, estimate, some well on events, Reform similar identified forward-looking project, such as meaning forecasts results. the statements believe, the economy and Private and would to The cases, remarks do historical within the begin, conditions words, forward-looking and statements company's by facts. forward-looking as based the intend, call expectations strictly statements terms business everyone may, like are Act that may on not and of statements Securities relate XXXX. current of the or performance,

XX-K press are occurrence revise update set SEC. not in changes The that could Forward-looking those Annual company forward-looking to Report subsequent information by uncertainties XXXX those and and the the with that Important materially actual obligation results. forth supplemented risks to actual forward-looking uncertainties any or in release the measures a that does provide it's believe views company's With set the furnished want on and number affect to to we that, could the non-GAAP management issued forth to investors, factors as information differ Form filed assumptions, to in filed revised with measures adjusted these statements and addition and undertake company's in provides reports any now will the Detailed guarantees We information, are reflect X-K factors of earlier unanticipated GAAP a additional not meaningful the events SEC. its results performance to or our statements risk Also, turn how measures table which from pleasure the reconciliations presenting or risks materially of forth information the company's of business. reconciliation Tim set Form of in measures. in today to future cause to include reflect involve my certain the in non-GAAP relating non-GAAP GAAP with we that Whelan. today over point call otherwise. out to

Tim Whelan

morning, everyone. Thank you, good Mike, and

results continued XXXX. are revenue We of very quarter with nine growth months third our sequential and the the first pleased through

conditions, are results our of want success with We recent highlights more encouraged growth before through by our detail. acquisitions. quarter initiatives goes Mike continued pleased in four market but more the importantly, the performance to cover I the improving are our There organic of and on

improvement both increased and sequential and increases sequentially revenue year-over-year and year-over-year. as consolidated business. it First, and year-over-year test both in This included improvements measurement, well our as RBS RF to included components

defense important the of to particularly supply challenges. sector of network seeing signs I disrupted quarter underlying investment in environments, deployment, semiconductor growth sales we current successfully related as not our state navigate market XG and we spend to more am are but chain conditions, So continue of third themes performance proud ATE to just and densification.

what part in be is growth sustained Second, strategy, critical goal margins we straight have reflecting is realized we our long-term of products and we a of gross our to This believe XX%. as revenues. sixth above quarter higher-margin accomplished a

and outstanding half almost and significant of Third, based we ability the of have representing debt costs spending. to prepayment, our strength loan upon flow made our free term a cash control

contribute decrease cash our our debt to evident expense our success, is which also on managing of previously, We and flow have is our our noted expected highest this and balance, future we to focus you ratio, of $XX.X interest to at over maintaining and flow. another backlog a $XX.X X:X our years. a improved in of quarter book-to-bill million And recorded million cash last, backlog and bookings four strong and

product to This across reflects components, Turning our and $X distribution In our our the to orders large as revenues higher quarter. amusement returned increased in groups. orders three million-plus improvements such products. and RF projects parks, partners ultra-wideband from additional our highlights stadiums across for

our rollout spectrum aligned have broadband We densification. ultra-wideband to previously that network part of discussed are as products

exceptionally about experienced the third and test delivery their RF multichannel continues interest and This as these increased automated first Navy nine these our as well, to continued In as the nine test will for remain providers year. sensors. that Holzworth be or the continue markets, increased and we in the we increases as levels as semiconductor foreseeable under XX% see measurement, satellite revenues as well of is of U.S. excited month quarter demand flow increase contractors, of expansion and bookings our in and as we the semiconductor expectation USB international generating last perform to will sustained, we new of continued Boonton contracts. Holzworth XXXX, the months an also higher Our overperformance almost products quarterly they power companies of future. return revenues acquisition. reflects and order to well the compared defense our to are In from ATE synthesis equipment, realized RF instruments well

and markets business, various our our last pleased nine bookings operational software T&M We of XXX% we and a hardware for by the believe and closer dividends continued investments months the go-to-market designed Within for are services. $X.X increased focus brands revenue Software digital September signal very of and expanded new same and has processing well the Radio, or as on increased cards that million across return the to in from our and we as year. revenues. Baseband included investments revenue increase solutions complex and compared The paying well is ending more as our working as brands. driving demand our into Overall, delivery increases larger, products with period expanding synergies expect addressable on devices,

for a new XG deployment. success signing small specialized in cell software customer win QX, including Our customers solution a continued new of

Our funnel remains technology projects. research cell network XG small deployments, including private variety of ruggedized for strong projects development and XG a projects,

As will believe improved about continue to for the think software we we solutions, for XXXX services. demonstrate RBS future our demand our and

in To We and business expect continued this free almost adoption increased complete conditions specialized of private network We we pleased will future. to our and were debt sequential deployments our trials which XG increased flow. exceptionally small pilots, levels improvements in to be to increased as of for higher evidence improving then improved and driven improving realized and profitability expectations by term third move prepayment cash of and the of cell XXXX. quarter the with half summarize, volume revenues, the our will

to gives the Our going confidence over call I'm back our us to financials. that, to backlog record-high through future about and us With the turn growth walk business. continued the Mike in

Mike Kandell

Thank XX% for All a of you, and through the large comments due on balance projects. third the to December XX, or on XXXX, specifically XXXX, period. then I'm Consolidated P&L components sheet year increased quarter third walk results year-over-year carrier year-end on from or revenues and September RF to our Tim. unless Good $X.X increased spending, the morning, going again, comparisons for compared XX% sheet September comment the everyone. million XXXX, XXXX. XX, are balance are quarter revenues prior basis of to as noted. $X XXXX increased XX, otherwise million

to software higher compared sales processing digital market the starting higher signal are T&M conditions group. sales compared to sales of we and to We At after product service our year or margin product marginally volumes the accounting in $XXX,XXX T&M at group, due had lower-margin adjustment a legacy see was product our manufacturing primarily RF Consolidated higher on improving by in or international XXX% product period. higher as revenue absorption to of higher a purchase revenue and product this $XXX,XXX of T&M profit our $XXX,XXX gross accounting RBS cards. sales to revenues. in gross slightly increased At at costs. prior increased profit prior to increased fixed due our hardware $XXX,XXX overhead X%, mix. brands. gross margin higher declined declined mix mix group, Consolidated prior components margin as higher-margin higher This and on year our for year. the RBS profit due due And to offset

product Turning material to third-party R&D from $XXX,XXX Consolidated XX% expenses. consulting and of T&M lower which decreased operating majority group. the expenses connection or our because of with the prior was in expenses, year

increases research higher and expect a product longer-term and map new may continue development in to internal headcount upon to X% dependencies, Consolidated the in or expenses turn percentage to Consolidated product as headcount XX% development and investments and deadlines, marketing increased marketing of sales $XXX,XXX which project expenses third-party higher decreases and legal and development, due general and We primarily to year opportunities administrative prior revenue. road research expenses due primarily expenses expenses. increased create commissions, from dependent and expenses.

exchange as we've two earnout purchase have consideration year earn-out current of exceeded charge adjusted of loss Holzworth's ended to the period measurement and four a higher the the quarter year is higher estimate expenses, year income our primarily EBITDA in related profit prepayment primarily stock offset on decreased recorded the to year financial higher of $XXX,XXX in consideration the our for Holzworth XXXX loss loan accounting based sales in And in compared financial accounting higher the a March as to $X in opening the equal primarily earn-out to for change increased income. our premium interest year prior contingent payment Additionally, was under Holzworth's as compared P&L This rate expense prior payable recognition debt year results $X.X million as XXXX. installments in two the the of is expense estimates. on recognition loss due beginning $XX,XXX well or within gains. operating two full to from quarter. recorded $XXX,XXX of period, term by balance third earnout XXXX to Other The The the the expense. we represents is closed. year tax benefit, and fiscal year million a Interest contingent prior Net forecasted due the year. third due accordingly, has as initial due and acquisition. operating gross agreement. on due to related the results year the the sheet and Non-GAAP to foreign final interest increased in from this $XXX,XXX we the the prior purchase $XX,XXX increased through the paid our

sheet. Turning the balance to

million outstanding approximately XX% a balance. represented which in $X.X Tim on our we As mentioned, of term loan September, prepayment loan made our term

interest our lowered with prepayment, by points Additionally, the financial rate term our connection loan and covenants. amended certain in amended XXX we basis agreement and

million. XX, America our Tim compared of revolver million debt net million December XX, $X.X our now the over Bank As as availability asset-based September back was and closing of $X.X was I'll of to as to under some remarks. our turn for call $X.X

Tim Whelan

Thank you, Mike.

our balance as prepay of nine of sequential our revenues, and our loan. manage term improvements our business, forgiveness sheet executed and to supported cash portion and almost debt ability of a our reflect results month executed commitment We transaction, our debt. levels. We well to ATM quarter on We as the backlog. which accomplished third half our to year-over-year PPP bookings Our continue flow, to on profitability,

across products each is We about and XXXX and quarter another sequentially see groups, new With full-year in an customers high. year-over-year. next brands, of product respect and and our three quarter, the have years our of our market backlog revenues, couple expect ahead. all-time at launched won we and we We solutions the to the new both of fourth feel higher to good to have

cover a However, supply we global the shipping The and keeping but logistics just supply including global also on caused issues component chain disruptions shortages not close are pandemic, challenges. shortages. by eye chain

on make We market, a a are near-term eye predictions and those challenges for results labor of more keeping quarterly expertise, difficult. especially close these also the bit technical requiring

believe We reflected making in across our bookings simultaneously to underway teams. as and We while our businesses, essential are investments demand building support are these robust the record strong backlog. strategic investments our

Thank direction are you, their I and members our open questions. the we spending. cycle to performance months have headed. ability and dedication. be excited for and grow ensure use could addition, remaining lines networks and the business in XXXX please by and satellite of address the team global the to in less and investment am In mindful long-term also XXXX, work XG two expected I'm hard our want long-term beyond. thank private I encouraged our you of we opportunities than must health semiconductor by to this to manufacturing, into defense operator, With Last, and opportunity our the if business we for the

Operator

question from Securities. is Instructions] first Gulani Aman [Operator coming Your Riley from B.

Aman Gulani

Congrats see momentum its I on the quarter. ask to continuing about here. revenue deployment. cell small wanted Nice to

are You trends? of mentioned improving. been into that do you you of what visibility deployment And those seeing sort schedules? out What in deployments terms have cell there small have

Tim Whelan

for you Thank Yes. joining us.

So spectrum expectation of for deployment some we're the quarter. first carriers had the of at large We're cell more the XXXX, in seeing build-out higher they've half address the an of I macro industry in XXXX. - also back think acquired in the within but seeing of volumes primarily of that, that small the

one us of expected just still and quite we is point. small the coming the in that into were not at front build-out is think So that key XXXX levels cell largely

business, and various and for of unique a higher that we've the that's the across specialize multiple are our where cells seeing Within certainly take deal verticals. and interest RBS of level wins private seen technologies small we a them networks, good

that or even characterized think we and we're the production later encouraged development XXXX and that the trials, scale XXXX. year by is in So technology larger is

Aman Gulani

delay then, getting seeing out you of in and I believe some X-month Are Verizon maybe And delay? AT&T projects mid-band their for of pushed a some noted spectrum. that deployments because

Tim Whelan

point. the Yes. bit some slow a number a they plan me being guess, We've to reports. the not always We I a see for December, Number pause. seen to following really year. the it's seem just to projects December as of as same slower December of start big the one, delay the the cyclical in down year in in January month two, tells carriers a

hubs, we as fairly our some been XXXX. and remained still our so of transportation funnel, entertainment centers We're other hotels the venues large negatively look robust projects, impacted. and And at seeing half funnel funnel our for large has first in not

list. We're eye on it's But by it. been the So we've right can't impacted watch on I now, keeping an say it.

Aman Gulani

That's good know. to

guess, I five I far. secured XG sounds customers customers to already segment. Okay. turning of we software RBS about then, for mean, think new so this pace And it your the How you've the signing should solution? year

So this how next year. months ramp, we about half headed as year, last to those think couple of in should of XG also products back investment and growing of maybe got into some starts the

Tim Whelan

seeing of in is customers. quarters. quarters get our Yes. most No, multiple we're and This take signing These contracts of signing or to a quarter in new they pacing highly at encouraged longer-term typically instances, get customers. by accepted one in it. sixth continued the sense We're least quarters, multiple that nature recognized. two We deploy, multiple are one signed

last we seen improvement months XXX-plus seen of in the nine XXX% September and to the year. to improvement closer over we've months we've RBS nine backlog the as So in it revenues, against compare

we or more volume think in in the XXXX highly development, and later technology So 'XX of and period more will again, we're of terms that in in deployment. now encouraged. future of production and And this seeing trials sort ramp

Aman Gulani

question last any be for see T&M segment. Good growth supporting here? would you largely specific then the Can talk to the momentum Or markets And might about you that there. broad-based? it's say about end me the

Tim Whelan

Number one. environment, think to some number maybe seeing extent, No, some in across good demand would computing. be ATE there, the and applications Yes. two, one, semiconductor test second automated environment, lesser quantum number a we're I certainly a satellite

Operator

coming AIGH Your next Investments. question Hirschman Orin is from from

Orin Hirschman

get minute? number same two canceled one share the those with is any what could are to confidence terms that is, you? mentioned these ramps and in when we opposed where understanding number follow-ups. up there signed conviction that point 'XX. that can give lead that some longer-term Question things of But have this I at as I I one. those question quarter the see look we production or could you get guess, And on better two, metrics know that of that customer then You've contracts do last you we happen? how on actually And another metrics to any contracts, at

Tim Whelan

Yes.

technology So is deployment. this I mentioned early

And a the the mix. just are providers so result, solutions. in as to these there only vendor not other We're

through Right I and acceptance. think of to to has the what milestones by year, next predictable deployment of over be delivery this the will metrics technology are time as become subject now, we customers. the of accepted. Those are work more the a number our the lines trials

work how we're a is business we by They're our we customers, And that difficult. demanding. And timing bit large that's win products have that And so them. little them. and we and of expected. ensure patient, they're new that ensuring are going work enterprises as to putting technology the with large acceptance that to the with We're very our more functioning they're

think So a the a as is delivered to I backlog of we'll idea get backlog getting out, sorry, be provide both of we'll delivery - XXXX funnel accepted, getting in the time. position better how better at unfolds, playing and how and that well, and be a within RBS metrics funnel

Orin Hirschman

there Are picture? may commercial growth of projects gone on these experimental there and trial into not that projects projects? have deployment? it any into still a following make whole Are the these deployment the get better yet you how a volumes Is any actually

Tim Whelan

Orin, but Yes. bit having I asking about a delivery. time of I'm little a think hard hearing, volume you're

Orin Hirschman

Yes. I'm sorry.

go commercial just basis? contracts that. cetera? et of Any of you commercial any to still trials, on it's yet any delivery Or have actually a into Sorry the commercial field them sample where - about visibility a

Tim Whelan

No.

that a of launching years such were pleased relationship. probably We of that was a they release agreement a most recent we've SmartSky putting - Networks. market. one worked the to I the difficulty] performance there partnership up the than the right as with more we been that the has two with early on, technology our of long issued, And press press certainly and market. release they're the SmartSky that most an recent think was to production a time Networks, standing - had think I going from and with - full examples there that [technical best That

Orin Hirschman

of you, between? an year somewhere So business Any year example. in or the that million million $X provide what first say $X as to of it take to potentially idea kind that's let's meaning business, is going let's business, example

Tim Whelan

Yes, they us. forecast to provided no

aviation commercial the a think I market, there. of lot metrics there's

closest lot of I networks, not think But there. has to a metrics and course, with think I us competition forward SmartSky's kind there's provided forecast. Gogo the of SmartSky of any

so we're being And close. good We're staying customer.

to specialized given cell We large the had continue And trials or But to generates us. scale have That of again, sales hundreds that. that production they're where to some we're the production, point going and going off on we're support understanding sign customers. to quarterly specialized limited to to they thousands number deployment, support of to through before us we're we've at be careful with them of those But small work or for their of thousands. cells testing. a any cells, smaller-sized get them not kind from technology yet small and small providing need deployment a to services of by they basis. other point A predicting do

a still us, to of there's still ahead predict. So and it's work lot of difficult

Orin Hirschman

this subsystem? like What still let's in on In ASPs general that. type terms the say, of, of beyond thousands

Tim Whelan

of they it the license willing for what - pay or unit fee upon depends what the on license. in paid they're per royalty upon the upfront versus contract depends sense to It a full

and they are So again, slightly have different the each contracts volumes. different of

would ASP So accurate give an for you it's to business. hard that the be

Orin Hirschman

in is bit is if may. than mentioned quantum can And Or lot aren't is, out into actually category a computers. computing is you But more? customer? of customer? there yet. one questions, two more last Keeping mind, it you that One built little shipping being them And flesh I quantum it a one

Tim Whelan

out It's nature X competitive of Holzworth the companies product. the performance and It's than customers. won primarily larger the our within T&M. the So fact it's primarily has much performance We're multiple over figures. encouraged of that providers. less and It's because

the the company, And higher within a in some winning Fortune what win. are good a XXX largest world. win. It's big - companies amounts it's that winning it's at of So we expected. than with It's the companies

it. So we're encouraged by

of are we expectation. I think our T&M create Single opportunity within six T&M seven think about that growth the really as Those that that can wins figures, some customers business. figures multiple defines space. kinds potentially

Orin Hirschman

And of is higher specifically of able to read it being What because the at? geared specifically very terms in frequencies? performance high

Tim Whelan

Correct. and coherency noise This to in of that the of with caused application. use connection entirety and the it's ability those system phase measurements

Orin Hirschman

Which or ability qubits actually let's to the something? means say, read,

Tim Whelan

That's correct. quantum of And the qubits is the stability the to critical application. computing what's

Orin Hirschman

it one-to-one is question last number, was you nice the and was just for investors. seem necessarily dollar my book-to-bill excited a one-to-one. it And exciting Okay. doesn't And but seemed about

it that missing So what here? is we're

Tim Whelan

I very positive. think it's

can think can business I our - still, at times, be be lumpy.

one-to-one we quarter, grow our can put means positive, every So both one-to-one revenues. to up we continue

revenues backlog So of both to sequentially our mind keeping our and business, year-over-year, in and we've increased same book the keep high. that managed amount

So positive larger a about we're the creating result. And keep We'll the as backlog months. future. that, and we positive business we We're good that. for growing quarter, a doing think keep the nine in that's

Orin Hirschman

Okay.

not of the the backlog. I'm terms the that in, in lumpiness So part factoring that

Tim Whelan

a higher may of either the one-to-one. then four delivery creates of perhaps will a quarters - every That's signature because a a spike and right. the of significantly or be delivery larger contract single revenue be lumpy of year, that calendar a one-to-one Not it the

we're So year-to-date, at one-to-one.

hit look forward, as I a sure we say, mark. that to we're And good okay, again, So going and go that I try and job. at that's we make

Orin Hirschman

in or that take taking XX% supposed it's say, one at imply company follow-up because the away style saying let's where get the What XX% from taking quarter a style a that. that? I to XX% But time I we it let's the And you're lumpy. just So people then is just that additional - looking, backlog or with time, as let what I'll appreciate the months, to which rolling But sense, a ask. wouldn't are opposed is grower. broader in time. other say, on business grower in the nine looking

Tim Whelan

past mind said That's backlog. Well, that the keep are piece, probably not total contract the recognized value the where the there that contract in Orin. missing significant some was in in wins, we

mind. is there in contract particular have So one that I

the PO And the hundred We only milestone couple the X-figure negotiated multi upon around first thousand was it's opportunity. terms have dependent a of and delivery. dollars,

And so to feel we that business. done we we've that need everything win

as that, engineering Now we on need execute bookings do to additional delivery once we milestones. those And will us. come to

lot getting under a full than go easier PO that's another win and place So proposition and and just out a negotiation. having $XXX,XXX contract the it

So I not and in think that's creates excitement that's probably reflected the that the some bookings piece backlog. internally, yet

Orin Hirschman

of Got Which was that? for Out it. area curiosity, example.

Tim Whelan

within That's RBS.

Operator

next is from coming question [indiscernible]. Your

Unidentified Analyst

I wondering ATE? on where you was through stock more just the stand issuing

Tim Whelan

September SX the So expired did not any renew plans and have has XXth. We short-term expired, on SX. our we don't it, to renew

time. updating the Although, we're at term, the not I the out in this wouldn't longer SX term. rule But in short that

Operator

Your next from question Robert coming is PENN from Marcin Capital.

Robert Marcin

like quarter. right solid It be finally regard consistent direction to things a might on Congratulations growth. the seems with in moving

there XX,XXX-foot of calendar three one revenue is Or year? able which all for you the targeted there you positioned of that? growth - carry growth achieve do look needs do entire businesses at to preliminary XXXX, horse out that of XX% Is As see year? to to business your the next them being are view

Mike Kandell

if target, growth We correct. remember, still double-digit I revenue have a do

Tim Whelan

Yes.

be three leader to I good question. going or we any there's that all So don't to think answer businesses, just about lagger. Robert, feel

all I think opportunity we grow have X. the to

to about we've got I previously. is We that what best higher think today leverage when said look again, backlog metric than a the much we off that, had Orin, the I've good we've feel expectation that. at to

year we next And additional continue can revenue to and execute book and deliver that to if business. so backlog new

with I go backlog. into from year handle we on growth growth next think pretty about just we'll how the a in think the good year the

great a point. starting that's think I So

Robert Marcin

sounds? How year XX should All XX, next Well, target that let's if to XX for right. the be finished year? to just we this close assume

Tim Whelan

Great. Robert. that. Thank you, Appreciate

Robert Marcin

All or resource-constrained from businesses right. chain other you products are supply an issues right hardware deliver ship now having? Are or in to ability people and from any software problems the

Tim Whelan

we Absolutely. it. feeling upon. challenges certainly shortages. think just the component Number We're I Yes. which touched There's one, there, there's three

So have others pricing two, have commitment throughout are certain to increased you pricing on that, find one. already the have year. that I actually their for reasonable to say their a number are secure And you vendors when that delivery, price. first placed. There have increased orders Number a there

So one, you have they'll obligation to you secure material. that deliver an

because the have to do And eye two, an the logistics throughout it have to you three, - price You that that's on entire then a reasonable. have keep you at cycle of shipping challenges.

on So had pushed in we've times XXth and it's a dates multiple and nine the times a us check and week, confirmed confirmed times, multiple on to row weekly it's out.

QX. of otherwise But one have So a that as out run you runway point. opportunity is think about would just had additional we we absolutely challenge. And think I do at

times of increase. January, significant, has It's fiscal to delivery December pushed extend. with competition year. So but for always pushed been never we're salaries expectations recruiting been talent seeing that for components We're greater. the Two, seeing

of that the tension business. we on that's second level And sort eye keep an so I of think

Robert Marcin

I had I've you season price conference this a where prices? at Are think call heard you Because to all. Okay. companies don't any haven't anything raising to on have and increases my And been preserve raise I profitability. from not about prices

Tim Whelan

margin The No, in the to chain pricing measurement consistent increasing and RBS. that in through and components in business we of within prices use excellence terms three our test and and are drive units keep dynamics still in strategy see power, we've slightly manufacturing RF primarily and supply been Yes. and there two volumes. price check different increases, of is to

may we prices can winning And a price on while we do against think so raising very space check the competitive for and solution. that's our work if customers, That's keeping us. a the that

manufacturing supply So and chain in pricing to and our and trying yes, But we're segment. excellence we're volume to seeing on driving test drive use higher power to going margins otherwise, measurement in RBS. that dollars

Robert Marcin

year some last power trying new RF the extra of of two? in features. a amount any to that into and the or create you components funneled R&D with products Have pricing off I fair know taken

Tim Whelan

some seen integrated we safety on. We've buildings. DCC, the the which call a it's to play, Coupler, ability the Yes. the solutions some good we releases is issued which press MCC and SMART traction that on solutions public the and and like monitor direction of We

happy run those. seeing And a we're seeing we're of We're start to little about return So distributors bit stock a more. rate.

evident RF the as signs good the revenues about components. that's for within we So QX think and future,

Operator

I conference closing [Operator Whelan Instructions] the will ahead. remarks. back There Please the are hand now no to go for questions queue. in Timothy further

Tim Whelan

Thank everyone, us We you you finishing you. soon. so strong the Thank best. soon. for Thank to joining talk the again All with much. today. forward year speaking and look We'll you,

Operator

gentlemen. ladies today's you, This Thank event. concludes and

You have disconnect a for this participation. time, you wonderful Thank may your day. at and

Wireless Telecom (WTT) 11 Nov 212021 Q3 Earnings call transcript