Boston, MA 04/11/2014 (wallstreetpr) – XG Technology Inc (NASDAQ:XGTI) is a provider of wireless communication solutions. The company carries market value of $47 million. Shares of the company have been seen rising in recent times, suggesting better things down the road. Moreover, analysts are also becoming more optimistic about the company’s prospects.
In a press release, the company announced that it recently managed to ship its networking equipment to multiple customers. The company shipped approximately $1.75 million of the equipment together with engineering services. The fact that the company is making major shipments suggests that it is winning major customers for its wireless technology.
The list of the customers who purchased the networking equipment in the latest disclosure included some of the big players in the wireless communications market. The company expects to capture more customers as it develops technologies that answer the current needs of the industry.
In winning over more customers, XG Technology Inc (NASDAQ:XGTI) seeks to grow its revenue and earnings while keeping share prices up. The company expects to invest more in the development of cutting-edge wireless technologies that can generate higher revenue. However, in order to return great value to shareholders, the company has put in place competitive expenses control.
Expanding business engagement
The company focuses on keeping expenses low as possible. Tt is also keen on revamping its marketing system so that it can realize sales growth and enter into more deals that can improve sales. Moreover, the company is also looking for deals to test and approve its wireless technologies.
In the latest development, XG Technology Inc (NASDAQ:XGTI) announced a technology testing deal with the University of Nuevo Leon, in Mexico. Through the agreement, the university will, among other things, evaluate the company’s wireless technologies for potential application in the system of an unidentified corporation. The corporation seeks to adopt XG Technology Inc (NASDAQ:XGTI)’s xMax networking system, but requires to first establish that they meet the application requirements for which it needs them.
The evaluation of the technologies will last six months under a funded agreement. The company expects the outcome of the evaluation to provide more sales opportunities for its products.
XG Technology Inc (NASDAQ:XGTI)’s xMax technology is suitable for use in the unlicensed spectrum. For that matter, they are deemed ideal for international, regional and local deployments. The market for the xMax is widely available in the Americas, and the company only needs to raise awareness about its technology.