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Tel-Instrument Electronics Corp. Reports Financial Results for Second Quarter 2018 and Completes $3 Million Financing

Tel-Instrument Electronics Corp. Reports Financial Results for Second Quarter 2018 and Completes $3 Million Financing


East Rutherford, NJ – November 14, 2017 – Tel-Instrument Electronics Corp. (“Tel”, “Tel-Instrument” or the “Company”) (NYSE American: TIK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net loss of $2.9 million on revenues of $1.8 million for the second quarter of fiscal year 2018. This loss included a $2.1 million accrual for punitive damages in the Aeroflex litigation. The Company also announced the completion of a $3 million preferred stock financing that closed on November 14, 2017.

Drive to Mode 5

TEL-INSTRUMENT INTRODUCES THE DRIVE TO MODE 5 PROGRAM

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PROGRAM GOAL
: To get proven Mode 5/ADS-B test equipment to system integrators as early as possible to meet impending Mode 5/ADS-B integration and deployment schedules. The January 1, 2020 deadline for Mode 5 IFF is rapidly approaching for all NATO countries and international allies. To support our international user community, Tel-Instrument is introducing its “DRIVE TO MODE 5” program to guarantee preferred pricing and delivery dates. It is effective immediately and will remain in effect through December 31, 2017:

The Mode 5 upgrade process is a massive endeavour involving thousands of aircraft, ships and ground-based installations. Based on our experience with the U.S. Navy, Army, Air Force, Marines and Coast Guard, it will be a complex and challenging upgrade for the technical teams responsible for Mode 5 and ADS-B integration and deployments. One requirement for successful Mode 5/ADS-B integration is proven, user-friendly test equipment. The Tel-Instrument USM-708, USM-719 and TS-4530A testers have been selected by the U.S. military for all of their Mode 5 flight-line testing needs. Tel-Instrument has delivered over 5,000 of these test sets and they continue to be updated as required based on evolving AIMS requirements.

Remote Client Utility Software

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Description

Tel-Instrument Electronics Corp Remote Client Software

The Tel-Instrument Electronics Corp. new Remote Client Software utility allows the operator to utilize and control the AN/USM-708, AN/USM -719 & TR-420 plus the TS-4530A and our new T-47M5 Test Sets utilizing your Windows® computer or laptop and offers expanded and detailed test results not available on the standard Test Set display.

  • Currently tests Transponders, Interrogators using a standard computer interface
  • Expanded testing of ADS-B to a detail level
  • Continous Recording and Logging of all data
  • SIF, Mode S, Mode 4 and Mode 5 and ADS-B comprehensive results
  • Supports continuous test options and configurations
  • Save to your PC and then print your test results
  • Simple and Easy to understand user interface

    EXPORT CONTROL WARNING: This product is controlled for export under the International Traffic in Arms Regulations (ITAR). A license from the U.S. Department of State is required prior to the export of this product from the United States.

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