Westell Technologies (WSTL) saw its loss narrow to $0.56 million, or $0.01 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $5.08 million, or $0.08 a share. On an adjusted basis, net profit for the quarter stood at $1.01 million, or $0.02 a share compared with a net loss of $2.62 million, or $0.04 a share in the last year period. 

Revenue during the quarter dropped 26.40 percent to $15.39 million from $20.90 million in the previous year period. Gross margin for the quarter expanded 620 basis points over the previous year period to 43.96 percent. Operating margin for the quarter stood at negative 3.98 percent as compared to a negative 24.93 percent for the previous year period.

Operating loss for the quarter was $0.61 million, compared with an operating loss of $5.21 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $1.23 million compared to negative $2.29 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 7.99 percent for the quarter compared to negative 10.97 percent in the last year period.  

"We once again delivered sequential bottom-line improvements in 4Q17, as GAAP performance was better by $1.3 million and non-GAAP performance, positive for the second consecutive quarter, improved $0.8 million. Highlights included sequential revenue growth, gross margin increase, and continuous expense control," said Kirk Brannock, president and chief executive officer of Westell Technologies.

Cash flow from investing activities was $9.96 million for the year, down 14.76 percent or $1.72 million, when compared with the last year.

The company has spent $0.34 million cash to carry out financing activities during the year as against cash outgo of $0.92 million in the last year period.

Cash and cash equivalents stood at $21.78 million as on Mar. 31, 2017, up 13.61 percent or $2.61 million from $19.17 million on Mar. 31, 2016.