SARASOTA — Wireless communication firm xG Technology sold nearly $1 million worth of networking equipment in 2013 to public safety clients and other customers, part of a strategy to expand beyond rural markets.
The Sarasota-based firm, which markets and sells a patented system for Internet-based phone calls, shipped $860,000 of its xMax cognitive networking equipment and engineering services last year, according to a release. The shipments, adds the company, serve multiple customers serving a wide range of markets and geographies.
“We have made our first shipments to customers serving the key public safety, reseller and telemedicine markets, which follow previously announced shipments to rural broadband customers,” xG CEO John Coleman says in a release. “Our team is successfully executing on our product, production and revenue plans, and are converting backlog into shipments and revenue.”
xG will to report fourth quarter 2013 results in March, according to the statement. The firm, which went public on the Nasdaq in July, raised $10 million in a limited public offering in November. xG shares, traded under the symbol XGTI, closed Jan. 13 at $1.54 a share.