The innovative 60 GHz unlicensed and 5G mmWave wireless technology firm, Pesaro Inc. (NASDAQ: PRSO), renowned for its antenna modules, IP, software, and chipsets, has announced it will publish its financial outcomes for the first fiscal quarter on May 13, 2024, after market close.
Additionally, on that day, the company will conduct a conference call at 2 p.m. Pacific Time. Pesaro Inc.'s Chief Executive Officer, Ron Glibbery, and Chief Financial Officer, Jim Sullivan, will participate. The executives plan to review the financial results and discuss the business's prospects.
On April 16, Pesaro revealed that its X710 chipset was selected by Panasonic System Networks R&D Lab Co. Ltd. (PSNRD) for their new 60GHz WLAN solution. PSNRD plans to incorporate Pesaro's array antenna technology into its product, aiming to enable low-latency, high-speed communication comparable to LAN, covering distances of several hundred meters.
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Additionally, the solution was highlighted for its ease of operation and installation, attributed to its interference-free, unlicensed use of the 60 GHz band and precise control of narrow beam directional antennas. It was also emphasized that partnering with a global leader in enterprise technology and consumer products like Panasonic represents a significant achievement for Pesaro. Moreover, it was noted that the X710 chipset is precisely the type of product capable of meeting the rigorous standards demanded by PSNRD.
While the partnership with PSNRD marked a significant milestone for Pesaro, the company disclosed another important development on April 4. Pesaro announced it had secured a non-cancelable purchase order valued at $2.88 million. This order was part of the last-time buys associated with the end-of-life initiative for its memory integrated circuit products. As of that date, Pesaro had accumulated purchase orders totaling approximately $16.9 million, with the majority remaining as backlog. The company began fulfilling these orders, with shipments expected to continue through 2025. The announcement also underscored the market's confidence in Pesaro’s legacy solutions and products.
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