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Do you consider a stock's sales trends when choosing among names? Sales are the primary source of profits, so a sales analysis should be high on your checklist. To illustrate, we ran a screen.

We began by compiling a list of wireless communications stocks and then screened for those stocks with negative sales trends, comparing growth in revenue to growth in accounts receivable. Since accounts receivable is the portion of revenue not yet received, and there is no guarantee the money will ever be received, the larger the portion of revenue made up of receivables the weaker the company's revenue.

We screened for stocks seeing slower growth in revenue than accounts receivable year-over-year, as well as accounts receivable comprising a larger portion of current assets over the same time period.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall (kapitall.com).

Do you think these stocks are in hot water? Use this list as a starting point for your own analysis.

List sorted by change in revenue over the last year.

1. Anaren Inc. (ANEN): Designs, develops, manufactures, and sells microwave components and subsystems for the wireless communications, satellite communications, and defense electronics markets. Market cap at $304.31M, most recent closing price at $20.52. Revenue fell by 21.13% during the most recent quarter ($34.72M vs. $44.02M y/y). Accounts receivable grew by 1.09% during the same time period ($28.86M vs. $28.55M y/y). Receivables, as a percentage of current assets, increased from 21.15% to 24.84% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

2. Cellcom Israel Ltd. (CEL): Provides cellular communications services in Israel. Market cap at $576.98M, most recent closing price at $5.80. Revenue fell by 0.13% during the most recent quarter ($1,585M vs. $1,587M y/y). Accounts receivable grew by 26.79% during the same time period ($1,978M vs. $1,560M y/y). Receivables, as a percentage of current assets, increased from 41.86% to 54.48% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

3. Mobile Telesystems OJSC (MBT): Provides telecommunications services primarily in the Russian Federation, Ukraine, Uzbekistan, Turkmenistan, Armenia, and Belarus. Market cap at $17.59B, most recent closing price at $17.69. Revenue grew by 2.72% during the most recent quarter ($3,013.8M vs. $2,933.99M y/y). Accounts receivable grew by 12.34% during the same time period ($1,215.4M vs. $1,081.91M y/y). Receivables, as a percentage of current assets, increased from 28.98% to 32.46% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

4. Telular Corp. (WRLS): Designs, develops, and distributes products and services that utilize wireless networks to provide data and voice connectivity among people and machines primarily in the United States and internationally. Market cap at $152.54M, most recent closing price at $9.20. Revenue grew by 58.45% during the most recent quarter ($19.79M vs. $12.49M y/y). Accounts receivable grew by 119.04% during the same time period ($10.47M vs. $4.78M y/y). Receivables, as a percentage of current assets, increased from 24.73% to 36.47% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

5. VimpelCom Ltd. (VIP): Operates as an integrated telecommunications services provider, offering voice and data services through a range of wireless, fixed, and broadband technologies. Market cap at $11.02B, most recent closing price at $8.46. Revenue grew by 105.07% during the most recent quarter ($5,619M vs. $2,740M y/y). Accounts receivable grew by 303.74% during the same time period ($2,649M vs. $656.11M y/y). Receivables, as a percentage of current assets, increased from 16.83% to 29.55% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

*Accounting data sourced from Google Finance, all other data sourced from Finviz.

Source: 5 Wireless Communications Stocks With Troubling Sales Trends