WPCS Reports 2011 First Quarter Financial Results

WPCS International Incorporated

today announced financial results for the fiscal year 2011 first quarter ended July 31, 2010. For the first quarter, WPCS reported revenue of $28.9 million compared to $25.3 million for the same period a year ago, which represents an increase of approximately 14%. In the first quarter, WPCS generated earnings before interest, taxes, acquisition-related contingent earn-out costs, and depreciation and amortization (EBITDA) of approximately $238,000. The company generated $1,272,000 in EBITDA for the same period a year ago. For the first quarter ended July 31, 2010, WPCS reported a net loss of approximately $376,000 or $0.05 per diluted share, compared to net income of $435,000 or $0.06 per diluted share for the same period a year ago.