Highlights for the quarter ended March 31, 2019:

• Net revenues of $13,032,000, reflecting growth in two of three
  segments
• Gross Profit of $5,727,000, or 43.9%
• Net loss of $344,000
• Non-GAAP Adjusted EBITDA of $354,000
• New Customer orders of $12,387,000
• March 31, 2019 backlog of firm orders of $7,575,000
• Decrease in S,G&A, increase in R&D to drive future growth
• Company announces target revenues of $100 million by 2023,
  inclusive of acquisitions

PARSIPPANY, N.J.–(BUSINESS WIRE)–Wireless Telecom Group, Inc. (NYSE American: WTT) (the “Company”)
announced today results for the 2019 first quarter ended March 31, 2019.

Tim Whelan, CEO of Wireless Telecom Group, Inc., commented, “Our Q1
financial results were as we expected exiting 2018 which was a record
year for the Company. Revenue was comparable to last year’s Q1 and
yielded margins reflecting our revenue product mix of lower software and
more hardware cards. We are pleased with continued top-line strength in
Embedded Solutions and the year over year increase in Network
Solutions.” Whelan added, “We are excited about our R&D investments and
the product initiatives we released during the first quarter across
multiple segments which included product collaboration on LTE eNodeB
software, our product launch for real-time public safety monitoring, and
our launch of noise sources for 5G test systems.”

Whelan continued, “We continue to invest for long-term growth and remain
optimistic for continued momentum throughout the remainder of 2019. We
are on track for our long-term target of $100 million in revenue,
consisting of strong organic growth and strategic acquisitions, while
improving profitability and cash flows.”

For the quarter ended March 31, 2019, the Company reported consolidated
net revenues of $13,032,000, compared to $13,264,000 for the same period
in 2018, a decrease of 1.7%. Network Solutions revenue increased 4.5% on
increased large venue projects and customized solutions and Embedded
Solutions revenue increased 6.4% on higher sales of digital signal
processing hardware. This was offset by a decrease of 19.5% in Test and
Measurement revenue on lower government shipments compared to the same
quarter last year, which are expected to increase over the coming
quarters.

The Company also reported consolidated gross profit of $5,727,000, or
43.9% of revenue, for the quarter ended March 31, 2019, compared to
$6,268,000 or 47.3% of revenue, for the same period in 2018. The decline
in gross profit margin was due to a higher mix of lower margin hardware
sales at Embedded Solutions and the impact of competitive pricing in the
Network Solutions industry which were partially offset due to a
favorable product mix in Test and Measurement.

For the quarter ended March 31, 2019, the Company reported consolidated
operating expenses of $6,125,000, compared to $5,700,000 for the same
period in 2018, an increase of $425,000. The increase was driven by our
investments in research and development in the area of 5G roadmap
development and was offset by a 3% decline of sales, marketing, general
and administrative expenses.

The net loss for the quarter ended March 31, 2019 was $344,000, compared
to net income of $374,000 for the same period in 2018.

Non-GAAP Adjusted EBITDA for the quarter ended March 31, 2019 was
$354,000, compared to $1,612,000 for the same period in 2018. The
decrease in non-GAAP Adjusted EBITDA from the prior year is attributable
to the decrease in gross profit as described above coupled with the
increased investments in research and development. The Company’s
explanation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA
to net income (loss) is set out below in this press release.

The Company’s consolidated backlog of firm orders to be shipped in the
next twelve months was $7,575,000 at March 31, 2019, compared to the
March 31, 2018 backlog of $10,576,000.

Outlook

Near term, the Company expects revenues for the second quarter of 2019
to slightly increase compared to the same quarter last year and gross
margins to be comparable. The Company also maintains the expectation for
full year 2019 revenues to grow organically in the low to mid-single
digits, with full-year gross margins comparable to last year. A strict
focus on driving operational leverage is expected to generate
profitability and cash flow growth at rates higher than expected revenue
growth. The Company’s principal considerations for full-year 2019
expectations include slower than anticipated deployment of 5G
infrastructure, judicious investment in R&D and new product development
while controlling operating expenses, and uncertainty around the timing
of select, large and new customer opportunities in the funnel.

Beyond 2019, the Company expects to grow revenues organically between 10
and 12% over the next four years based on the long term trends of
network densification and 5G deployment, private LTE network expansion
and increased military spend. In addition, the Company also expects
strong organic growth to be driven by multiple internal initiatives
including the continuation of new product introductions, channel
expansion, and operational excellence. The Company’s 2023 targets also
include annual revenues of $100 million, inclusive of strategic
acquisitions, gross profit margins between 47% and 49%, and Adjusted
EBITDA margins of approximately 15%. The Company defines Adjusted EBITDA
margins as Adjusted EBITDA divided by revenue (see use of Non-GAAP
Financial Measures below).

Conference Call

As previously announced, Wireless Telecom Group Inc. will host a
conference call today at 8:30 a.m. ET in which management will discuss
first quarter results and related matters. To participate in the
conference call, dial 800-346-7359 or 973-528-0008. The conference
identification number is 762201. The call will also be webcast over the
internet at the following URL: https://www.webcaster4.com/Webcast/Page/1690/30414

A replay will be made available on the Wireless Telecom website for a
limited period of time following the conference call.

Use of Non-GAAP Financial Measures

The Company reports its financial results in accordance with generally
accepted accounting principles (“GAAP”). Management believes, however,
that certain non‐GAAP financial measures used in managing the Company’s
business may provide users of this financial information with additional
meaningful comparisons between current results and prior reported
results. Certain of the information set forth herein and certain of the
information presented by the Company from time to time may constitute
non‐GAAP financial measures within the meaning of Regulation G adopted
by the Securities and Exchange Commission. We have presented herein a
reconciliation of these measures to the most directly comparable GAAP
financial measure. The non‐GAAP measures presented herein may not be
comparable to similarly titled measures presented by other companies.
The foregoing measures do not serve as a substitute and should not be
construed as a substitute for GAAP performance, but provide supplemental
information concerning our performance that our investors and we find
useful.

The Company defines EBITDA as its net earnings before interest, taxes,
depreciation and amortization. “Adjusted EBITDA” is EBITDA excluding our
stock compensation expense, restructuring charges, acquisition expenses,
integration expenses, the one-time non-cash inventory impairment
charges, unrealized and realized foreign exchange gains and losses, and
other non-recurring costs and includes cash received in 2018 related to
revenue that would have been recognized in 2018 but for the adoption of
ASU Topic 606. A reconciliation of net income to non-GAAP Adjusted
EBITDA is included as an attachment to this press release.

The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by
revenue. The Company does not provide a forward-looking reconciliation
of expected Adjusted EBITDA Margin as the amount and significance of
special items required to develop meaningful comparable GAAP financial
measures cannot be estimated at this time without unreasonable efforts.
These special items could be meaningful.

The Company views Adjusted EBITDA and Adjusted EBITDA margin as
important indicators of performance, consistent with the manner in which
management measures and forecasts the Company’s performance. We believe
Adjusted EBITDA and Adjusted EBITDA margin are important performance
metrics because they facilitate the analysis of our results, exclusive
of certain non‐cash items, including items which do not directly
correlate to our business operations.

The Company believes that Adjusted EBITDA and Adjusted EBITDA margin
metrics provide qualitative insight into our current performance and we
use these measures to evaluate our results. Additionally, we use
Adjusted EBITDA to measure the performance of our management team and
management’s entitlement to incentive compensation. We believe that
making this information available to investors enables them to view our
performance the way that we view our performance and thereby gain a
meaningful understanding of our core operating results, in general, and
from period to period.

Forward-Looking Statements

This press release contains “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. In some
cases, such forward-looking statements may be identified by terms such
as believe, expect, seek, may, will, intend, project, anticipate, plan,
estimate, guidance or similar words. Forward-looking statements include,
among others, statements regarding expectations for revenue and gross
margins for the quarter ending June 30, 2019 and the year ending
December 31, 2019, expectations for increased government shipments in
the remaining quarters of 2019; expectations for improved profitability
and cash flow for the year ending December 31, 2019; expectations
relating to long-term growth, including long-term revenue expectations
of$100 million; long-term organic revenue growth rates, gross profit
margins and Adjusted EBITDA margins. Investors are cautioned that such
forward-looking statements are not guarantees of future performance and
involve a number of risks and uncertainties that could materially affect
actual results, including, among others, the ability of management to
successfully implement the Company’s business plan and strategy; the
loss of any significant customers of the Company; the Company’s ability
to acquire accretive businesses and successfully integrate acquired
businesses; product demand and development of competitive technologies
in the Company’s market sector; the impact of competitive products and
pricing; as well as other risks and uncertainties set forth in the
Company’s Annual Report on Form 10-K for the year ended December 31,
2018. These forward-looking statements speak only as of the date of this
release and the Company does not undertake any obligation to update or
revise any forward-looking information to reflect changes in
assumptions, the occurrence of unanticipated events, or otherwise, as
except as required by law.

About Wireless Telecom Group, Inc.

Wireless Telecom Group, Inc., comprised of Boonton Electronics,
CommAgility, Microlab and Noisecom, is a global designer and
manufacturer of advanced radio frequency and microwave components,
modules, systems and instruments. Serving the wireless,
telecommunication, satellite, military, aerospace, semiconductor and
medical industries, Wireless Telecom Group products enable innovation
across a wide range of traditional and emerging wireless technologies.
With a unique set of high-performance products including peak power
meters, signal analyzers, signal processing modules, LTE PHY and stack
software, power splitters and combiners, GPS repeaters, public safety
monitors, noise sources, and programmable noise generators, Wireless
Telecom Group supports the development, testing, and deployment of
wireless technologies around the globe. 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 http://www.wtcom.com.

In periods with a net loss, the basic loss per share equals the diluted
loss per share as all common stock equivalents are excluded from the per
share calculation because they are anti-dilutive.

Contacts

Mike Kandell
(973) 386-9696

Or

John Nesbett
or Jen Belodeau
(203) 972 9200