WTT - Wireless Telecom Group says supply chain to impact H2 revenue bookings remain strong

• Wireless Telecom Group ( NYSE: WTT ) stated Wednesday it now expects its third quarter bookings and contract signatures to exceed $10M, compared to prior forecast of $8-$10M, broadly driven by strong order flow in the test & measurement segment.
• However, third quarter revenue is expected to continue to face challenging supply chain conditions, which will continue to impact revenue recognition in the second half of the year, the company said.
• Higher backlog are estimated to increase revenue of quarters ahead.
• CEO Timothy Whelan commented "As anticipated, we have seen the uncertainty of order flow in the second quarter dissipate, and we are expecting a record quarter of customer orders in the third quarter. We believe recent contract wins and strong bookings reflect the successful investments we continue making across our product portfolio.....We are focused on working closely with our supply chain to optimize the conversion of these new orders to revenue within 2022."
• Earlier: Wireless Telecom Non-GAAP EPS of -$0.04, revenue of $6.1M

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