2008-09-17 23:17:03 -
- Wireless Telecom Group, Inc. (AMEX: WTT) held its annual meeting of stockholders at the American Stock Exchange in New York.
During the meeting, stockholders elected Savio W. Tung, James M. ("Monty") Johnson, Hazem Ben-Gacem, Henry L. Bachman, Rick Mace, Adrian Nemcek and Joseph Garrity as members of the Company's board of directors, for a term of one year
or until their respective successors are elected and qualified. Stockholders also approved an amendment to the Company's Amended and Restated 2000 Stock Option Plan, providing for an additional 1,000,000 shares of the Company's common stock, $.01 par value per share, that may be available for future grants under the plan.
Monty Johnson, CEO of Wireless Telecom Group, Inc. commented to stockholders at today's meeting, "The strategic investments we have made to develop new leadership products have strengthened our market position for the future. In our instrument portfolio, we are adding a new communication tester for 3G handset repair. We have a substantial installed base of 2G testers for which this instrument provides the comparable capabilities for 3G handsets.
Continued Johnson, "For our component portfolio, we are adding ultra-broadband WiMAX, Wi-Fi, and LTE capable products. As an example, we have developed a WiMAX injector, to add WiMAX to an existing cellular system. Additionally we are expanding our KM series of integrated assemblies to give operators and systems integrators the ability to host multiple wireless technologies on a single antenna system. Key customers are already placing orders and we will formally announce and ship first quantities of these exciting new products in the upcoming month."
The Company has posted the presentation to stockholders on its website, www.wirelesstelecomgroup.com, under the investor relations section.
Wireless Telecom Group designs and manufactures radio frequency (RF) and microwave-based products for wireless and advanced communications industries and markets its products and services worldwide under the Boonton, Microlab, Noisecom, and Willtek brands. Its complementary suite of high performance instruments and components includes peak power meters, signal analyzers, power splitters, combiners, diplexers, noise modules, precision noise generators, and mobile phone testing solutions. The Company serves both commercial and government markets with workflow-oriented, built-for-purpose solutions in cellular/mobile, WiFi, WiMAX, private mobile radio, satellite, cable, radar, avionics, medical, and computing applications. Wireless Telecom Group is headquartered in Parsippany, New Jersey, in the New York City metropolitan area, and maintains a global network of Sales and Service offices for excellent product service and support.
Wireless Telecom Group's website address is
www.wirelesstelecomgroup.com. 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, 2007.
Wireless Telecom Group, Inc.
Paul Genova, 973-386-9696
