WTT Wireless Telecom

Wireless Telecom Group, Inc. (AMEX Symbol: WTT) announced today results for the second quarter and six months ended June 30, 2005. For the three months ended June 30, 2005, net sales were $6.0 million as compared to $5.6 million as recorded in the three months ended June 30, 2004, an increase of 7%. For the six months ended June 30, 2005, net sales were $12.0 million as compared to $11.1 million recorded for the six months ended 2004, an increase of 8%. Net income for the current quarter ended June 30, 2005 was $1,059,000 or $.06 per share diluted as compared to net income of $647,000 or $.04 per share diluted, for the comparable quarter of the prior year. For the six months ended June 30, 2005, net income was $2,129,000 or $.12 per share diluted as compared with $835,000 or $.05 per share diluted reported for the comparable period of the prior year. "The improved revenues and earnings in the six months ended June 30, 2005 are a result of strong sales in all business units. The Company will continue to focus on sales of core products while working towards improved operating and cost efficiencies," said Paul Genova, CFO. "The strong results of Wireless Telecom Group, Inc. demonstrate the strength of the Company. We intend to continue the focus on sales of core products with the acquisition of Willtek Communications, GmbH as of July 1, 2005 and will work to continue to improve operating and cost efficiencies together with the development of new products," said Cyrille Damany, CEO. Wireless Telecom Group, Inc. is a global provider of electronic noise generation equipment in the telecommunications field. Except for historical information, the matters discussed in this news release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2004 and Forms 10-Q for 2005. -0- *T SELECTED FINANCIAL RESULTS (In thousands, except per share amounts) Three months ended Six months ended June 30, June 30, ------------------ ----------------- (unaudited) (unaudited) 2005 2004 2005 2004 ---- ---- ---- ---- Statement of Operations Data: ----------------------------- Net sales $ 5,963 $ 5,584 $12,011 $ 11,071 Gross profit 3,066 3,028 6,344 6,120 Selling, general and administrative expenses 1,856 2,075 3,911 5,046 Other (income) expense (121) 26 (169) (122) Income before income taxes 1,331 927 2,602 1,195 Net income $ 1,059 $ 647 $ 2,129 $ 835 ======= ======= ======= ======== Net income per common share: Basic $ .06 $ .04 $ .12 $ .05 ======= ======= ======= ======== Diluted $ .06 $ .04 $ .12 $ .05 ======= ======= ======= ======== Weighted average shares outstanding: Basic 17,487 17,161 17,475 17,080 Diluted 17,608 17,576 17,628 17,600 June 30, December 31, 2005 2004 --------- ----------- Balance Sheet Data: ------------------- Cash & cash equivalents $ 15,782 $ 15,784 Working capital 24,413 23,560 Total assets 35,888 35,407 Total liabilities 5,229 5,928 Shareholders' equity $ 30,659 $ 29,479 *T