The following segment was excerpted from this fund letter published by Logical Thought.
We continue to own Westell Technologies, Inc. (NASDAQ:WSTL), a 43% gross margin telecom equipment maker (of primarily small-cell repeaters) in turnaround mode. In February, Westell reported a mediocre FY 2019 third quarter, with revenue down 22% year-over-year but up 6% sequentially, and although it burned around $970,000 in free cash flow, it ended the quarter with $27.1 million in cash ($1.75/share) and no debt, and on the follow-up conference call, management explicitly indicated that it expects to return to