Vislink Technologies Shares Drop After Wider 3Q Loss, Lower Revenue

Dow Jones11-15

By Kailyn Rhone

Shares of Vislink Technologies fell after the company posted a wider third-quarter loss and lower-than-expected revenue.

The stock fell 32% to $4.45 in afternoon trading Thursday. For the year, shares are up about 15%.

Vislink posted a loss of $3.01 million, or $1.22 a share, compared to a loss of $1.97 million, or 83 cents a share, in last year's quarter.

Revenue fell slightly to $7.07 million from $7.18 million a year earlier, led by high seasonal softness in its live production sector and lower-than-anticipated sales growth in the MilGov market.

Gross margin was 51% in the third quarter, down from 54% in the same period last year.

Vislink's cash and short-term investments were $9.2 million as of September 30, compared with $11.5 million in June. Working capital was $27.1 million at the end of the third quarter compared with $31.8 million at June 30. The company expects to see improvements in its working capital performance.

Vislink said it remains committed to its three-year financial plan; however, the timeline for achieving growth and profitability expectations may be extended due to current market dynamics.

Write to Kailyn Rhone at kailyn.rhone@wsj.com

(END) Dow Jones Newswires

November 14, 2024 14:51 ET (19:51 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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For the year, shares are up about 15%. \n</p>\n<p>\n  Vislink posted a loss of $3.01 million, or $1.22 a share, compared to a loss of $1.97 million, or 83 cents a share, in last year's quarter. \n</p>\n<p>\n  Revenue fell slightly to $7.07 million from $7.18 million a year earlier, led by high seasonal softness in its live production sector and lower-than-anticipated sales growth in the MilGov market. \n</p>\n<p>\n  Gross margin was 51% in the third quarter, down from 54% in the same period last year. \n</p>\n<p>\n  Vislink's cash and short-term investments were $9.2 million as of September 30, compared with $11.5 million in June. Working capital was $27.1 million at the end of the third quarter compared with $31.8 million at June 30. 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