xG Technology Inc (NASDAQ:XGTI) announced that its Vislink business has received orders valued at approximately $250,000 from prominent local television stations for high-performance digital microwave systems.
The equipment covered by the orders includes digital microwave transmitter and receiver components and other related hardware, implemented in a comprehensive solution that supports both on-scene and in-studio applications. A key attribute of the Vislink systems is a purpose-built approach designed to meet broadcasters’ present requirements as well as their future growth plans.
“Our IMT and Vislink brands continue to excel in designing and delivering systems that meet and exceed market requirements in wireless broadcast technologies,” said George Schmitt, Executive Chairman and CEO of xG Technology. “Through their expanding product ranges and commitment to innovations such as 4K ultra high-definition TV, High-Efficiency Video Coding (HEVC) and IP-based newsgathering platforms, they remain leaders in enabling broadcasters to improve efficiencies and build audience engagement.”
Shares of XG Technology are up nearly 3% to $1.99 in pre-market trading Tuesday. XGTI has a 1-year high of $15.90 and a 1-year low of $0.32. The stock’s 50-day moving average is $1.71 and its 200-day moving average is $1.60.
xG Technology, Inc. engages in the development of patented wireless communications and spectrum sharing technologies. It operates through the following segments: Broadcast, Sports and Entertainment, and Government/Surveillance. The Broadcast segment includes a line of margin receiver products including DR3, crx6, and CIRAS. The Sport and Entertainment segment offers microLite, available in both licensed and unlicensed frequency bands. The Government/Surveillance segment sells IMT, MiniMobile Commander and Mobile Commander.