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April 19, 2015 7:20 PM ET

Electronic Equipment, Instruments and Components

Company Overview of Pulse Electronics Corporation

Company Overview

Pulse Electronics Corporation produces and sells precision-engineered electronic components and modules. It operates in three segments: Network, Power, and Wireless. The Network segment offers a range of passive products, including connectors, filters, filtered connectors, transformers, splitters, micro-filters, baluns, and chokes. This segment’s products manage and regulate electronic signals for use in various devices in local area and wide area networks. The Power segment primarily manufactures power transformers, chokes, current and voltage sensors, ignition coils, automotive coils, military and aerospace products, and other power magnetic products. Its products adjust and ensure current...

12220 World Trade Drive

San Diego, CA 92128

United States

Founded in 1947

9,400 Employees

Phone:

858-674-8100

Fax:

858-674-8262

Key Executives for Pulse Electronics Corporation

Chief Executive Officer and Director
Age: 53
Total Annual Compensation: $17.3K
Chief Financial Officer and Senior Vice President
Age: 57
Total Annual Compensation: $284.8K
Senior Advisor
Age: 55
Total Annual Compensation: $355.7K
Compensation as of Fiscal Year 2014.

Pulse Electronics Corporation Key Developments

Pulse Electronics Receives $8.5 Million Cash Loan from OCM PE Holdings

On March 30, 2015, Pulse Electronics Corporation received a cash loan in the amount of $8.5 million from OCM PE Holdings, L.P., in exchange for the issuance by the Company of a Promissory Note in the principal amount of $8.5 million to Parent. The company issued the Note pursuant to the previously announced Investment Agreement and Agreement and Plan of Merger, dated as of February 28, 2015 by and among the Company, Parent, and OCM PE Merger Sub Inc. The Note bears interest at a rate of 10% per annum and such interest is payable in arrears on the last business day of each March, June, September and December, commencing on June 30, 2015, and ending on November 20, 2017. Such interest payments may, at the Company's election, be paid in cash or "paid in kind," with the amount of such "paid in kind" interest being added to the amount of principal outstanding under the Note on the applicable Interest Payment Date.

Pulse Electronics Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 26, 2014

Pulse Electronics Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 26, 2014. For the quarter, the company reported net sales were $80.1 million, down 8.7% from $87.8 million in the prior-year quarter mainly due to weakness in specific product lines, particularly mobile handset antennas and certain automotive products. Operating profit (U.S. GAAP) was $1.2 million compared with $1.2 million in the prior-year quarter. Non-GAAP operating profit was $3.0 million compared with $2.2 million in the prior-year quarter. Adjusted EBITDA was $4.7 million compared to $4.2 million in the prior-year quarter. Loss before income taxes was $6.609 million against $4.722 million for the same period last year. Net loss attributable to the company was $9.554 million against $7.156 million a year ago. For the year, net sales were $343.534 million compared with $355.676 million a year ago. Operating profit was $0.040 million compared with $4.284 million a year ago. Loss before income taxes was $28.106 million against $22.640 million for the same period last year. Net loss attributable to the company was $32.856 million against $27.134 million a year ago. Basic and diluted loss per share was $2.02 against $3.39 a year ago. Non-GAAP operating profit was $10.715 million compared with $9.608 million in the prior-year quarter.

Pulse Electronics Corporation Announces Ultra-Thin, Clear Indoor DAS Antenna

Pulse Electronics Corporation announced that it is set to bolster deployments of distributed antenna systems with its revolutionary DASUTCC500NF translucent ceiling-mount antenna that is designed to allow for greater performance and cleaner integration necessary to meet the growing indoor DAS market. This ground-breaking antenna features an ultra-thin, see-through design that allows the product to be nearly invisible when mounted, yet provides increases for in-building coverage and capacity. The antenna housing's translucent design makes it ideal for deployment in hotels, convention centers and other venues where aesthetics are of primary importance. Extending just 0.33 inches (8.4mm) below the ceiling, the DASUTCC500NF is the first in a family of ultra-thin antennas for the indoor DAS market. It is designed to support 2G, 3G and 4G LTE in the 608 MHz - 2700 MHz spectrum bands and features an -155 dBc PIM rating at 2x43dBm as per the Pulse PIMinator series. The patent pending DASUTCC500NF will begin shipping in the second quarter of this year. Pulse Electronics will also be showing the antenna by appointment at the upcoming Mobile World Congress event. The indoor DAS market is being driven by increased consumer demand for mobile data services. Traditionally, mobile operators have focused their coverage and capacity efforts on outdoor locations, with indoor coverage a byproduct of their outdoor-focused deployments. However, with a majority of mobile data traffic being generated indoors, operators are being forced to alter their deployment models with greater importance placed on ensuring a strong indoor signal. These efforts are becoming a bigger challenge at public venues that typically see large numbers of people congregate for events that can easily overwhelm traditional cellular and wireless local area networks. These deployments become more challenging at venues that also require antenna solutions that disappear into the surroundings instead of altering the original design of a location, which often becomes a point of contention in negotiations between venue owners and mobile operators for indoor DAS deployments.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 2, 2015
--
Private Placement
February 28, 2015
--
 

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