Avionics News
Tel-Instrument Electronics Corp Announces Continued Improvement in Second Quarter FY 2012
Carlstadt, NJ – November 16, 2011 – Tel-Instrument Electronics Corp (NYSE Amex: TIK) announced continued sales and income growth for the three and six months ended September 30, 2011.
For the second quarter ended September 30, 2011, revenues increased 20.2% to $3,674,354, compared to $3,055,933 in the second quarter ended September 30, 2010. The Company achieved net income of $103,316, or $0.04 per share in the second quarter of fiscal 2012 compared to a net loss of $87,994 or a loss of $0.03 per share in the second quarter of fiscal 2011. In the first half of fiscal 2012, revenues grew 39.1% to $7,664,565 as compared to revenue of $5,511,213 for the same period in the prior year. Tel reported net income of $279,165 or $0.10 per share in the first six months of fiscal 2012, compared to a net loss of $363,406 or a loss of $0.14 per share in the first six months of fiscal 2011. The Company’s backlog has increased to approximately $47 million at September 30, 2011 as compared to approximately $33 million a year ago.
For the second quarter ended September 30, 2011, revenues increased 20.2% to $3,674,354, compared to $3,055,933 in the second quarter ended September 30, 2010. The Company achieved net income of $103,316, or $0.04 per share in the second quarter of fiscal 2012 compared to a net loss of $87,994 or a loss of $0.03 per share in the second quarter of fiscal 2011. In the first half of fiscal 2012, revenues grew 39.1% to $7,664,565 as compared to revenue of $5,511,213 for the same period in the prior year. Tel reported net income of $279,165 or $0.10 per share in the first six months of fiscal 2012, compared to a net loss of $363,406 or a loss of $0.14 per share in the first six months of fiscal 2011. The Company’s backlog has increased to approximately $47 million at September 30, 2011 as compared to approximately $33 million a year ago.
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