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Tel-Instrument Electronics Corp. Announces Receipt of an Additional $1.24 Million of CRAFT Delivery Orders

. Posted in Blogs

Tel-Instrument Electronics Corp. Announces Receipt of an Additional $1.24 Million of CRAFT Delivery Orders

 

East Rutherford, NJ October 29, 2013 Tel-Instrument Electronics Corp. ( Tel or Company ) (NYSE MKT: TIK) announced today that it has received three additional delivery orders from the U.S. Navy totaling $1,244,385 for the CRAFT program.

 

These new orders are for 36 AN/USM-708 and AN/USM-719 Mode 5 IFF test sets and are associated with the $9.5 million five year indefinite-delivery/indefinite-quantity ( IDIQ ) contract announced last week. With the three delivery orders announced last week, the U.S. Navy has placed orders for 129 CRAFT test sets at a total value of $4,083,485. This IDIQ contract is in support of the U.S. Navy, U.S. Marine Corps, U.S. Army and various Foreign Military Sales customers under the Foreign Military Sales program.

About Tel-Instrument Electronics Corp

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com

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This press release includes statements that are not historical in nature and may be characterized as forward-looking statements, including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company s previous filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

 

Contacts

Tel-Instrument Electronics Corp
Joseph P. Macaluso, 201-933-1600
or
Institutional Marketing Services (IMS)
John Nesbett or Jennifer Belodeau
203-972-9200
This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

 

 

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Tel-Instrument Electronics Corp Announces New Orders of $1.3 Million

. Posted in Blogs

EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--

Tel Instrument Electronics Corp. ( Tel or Company ) (NYSE MKT:TIK) announced today that it has received orders totaling $1.3 million.

The Company received an order from the U.S. Army for 50 T-47N Test Sets for a total of $858,900. It is expected that these units will be shipped this calendar year. This order is part of a five year IDIQ (indefinite delivery/indefinite quantity) contract for up to 235 T-47N Test Sets. After receipt of this order, a total of 75 T-47N Test Sets could be exercised under this IDIQ contract.

The Company also received a $459,186 order from Poland, through its European distributor, for 29 T-47G Test Sets, which are scheduled to be delivered this calendar year.

Mr. Jeff O Hara, CEO, commented we are excited to receive these two orders for our test sets for a total of $1.3 million as they augment the revenues from our major programs. These products have been in our catalog for years, indicating the continued demand for these multi-function test sets, which have been proven to be rugged, reliable and cost competitive.

About Tel-Instrument Electronics Corp

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com

This press release includes statements that are not historical in nature and may be characterized as forward-looking statements, including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company s previous filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

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Contact:
Tel-Instrument Electronics Corp
Joseph P. Macaluso, 201-933-1600
or
Institutional Marketing Services (IMS)
John Nesbett or Jennifer Belodeau
203-972-9200
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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Tel-Instrument Electronics Corp Announces Final First Quarter Results For 2014 Fiscal Year and Retention of OEM Capital to Explore Strategic Options For The Company

. Posted in Blogs

EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--

Tel Instrument Electronics Corp. (Tel) announced today that it recorded a net loss of $85,772 on sales of $3.2 million as compared to a net loss of $668,800 on sales of $1.2 million in the year ago quarter. This improvement is mostly attributed to the resumption of shipments on the CRAFT program as well as improved sales of other products including a partial production release on the TS-4530A program. The Company is expecting continued revenue and profitability growth for the balance of this fiscal year as a result of higher shipments on the U.S. Army TS-4530A and U.S. Navy ITATS programs.

The Company also announced that it has retained OEM Capital as its exclusive financial advisor to explore strategic alternatives, including debt recapitalization, merger, sale or business combination of the Company with a third party with a goal to enhance shareholder value. There can be no assurance that any transaction will occur, and there is no defined timeline for the process. The Company does not intend to comment further regarding the process until such time, if any, as the Company determines that disclosure is appropriate or required.

We encourage everyone to read our full results of operations contained in our Form 10-Q filed on August 14, 2013 at sec.gov.

About Tel-Instrument Electronics Corp

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com.

This press release includes statements that are not historical in nature and may be characterized as forward-looking statements, including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Companys outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Companys products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Companys previous filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

The Companys stock is traded in the American Stock Exchange under the symbol TIK.

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Tel-Instrument Announces DoD AIMS Program Office Certification on the TS-4530A Mode 5 IFF Flight-Line Test Set

. Posted in Blogs

EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--

Tel-Instrument Electronics Corp. (NYSE MKT Symbol: TIK) announced that the Department of Defense (DoD) AIMS Program Office has certified on March 11, 2013 its TS-4530A Flight Line Test Set for use in testing Mark XIIA IFF ( Identification Friend and Foe ), Mode S (ELS/EHS/ADS-B) and TCAS systems. This certification is related to a $44 million Indefinite Quantity/Indefinite Delivery ( IDIQ ) contract from the U.S. Army to upgrade up to 3,000 existing legacy test sets to support Mode 5 testing and produce up to 2,000 new TS-4530A test sets. The Company has already received over $22 million dollars in orders from this award. The current delivery schedule, which entails monthly billings of approximately $1 million, is currently being evaluated by the Army. The issue standing in the way of a full-rate production approval is the Army request that changes be made to the logistics documentation package. This could take several months to complete and the Company has requested Army approval to commence LRIP (limited rate initial production) shipments while updates are made to the logistics documentation.

Mr. Jeffrey O Hara, the Company's President and CEO said, "Tel-Instrument is pleased that AIMS has certified the TS-4530A product as this is a key milestone in moving towards a full-rate production release on this unit. Tel is working hard to secure Army approval to begin LRIP shipments in the near-term. The Company has begun building these units and is hopeful for a favorable decision from the Army. We have also submitted a progress payment request on this program to enhance our liquidity position. Commencement of production on the TS-4530A program will be a key step in propelling the Company into the growth phase that it has been anticipating for well over one year. With the TS-4530A certification in place, the Company has now secured AIMS approval on three Mode 5 flight-line test sets, including the CRAFT AN/USM-708, the CRAFT AN/USM-719, and the TS-4530A and has production contracts in place to fully satisfy the Mode 5 testing requirements of the U.S. Army, US Air Force, U.S. Navy and US Coast Guard.

About Tel-Instrument Electronics Corp

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinst.com.

This press release includes statements that are not historical in nature and may be characterized as forward-looking statements, including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company s previous filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

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Contact:
Tel-Instrument Electronics Corp. (TIK)
Joseph P. Macaluso, 201-933-1600
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
or
Institutional Marketing Services (IMS)
John Nesbett or Jennifer Belodeau, 203-972-9200
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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New Avionics Ramp Test Sets - The Rollout of IFF Mode 5

. Posted in Blogs

The Rollout of IFF Mode 5

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Tel-Instrument has announced a new advanced avionics ramp test set, the TR-420 with IFF Mode 5 support and Mode S EHS test capability, both of which are new military requirements.  The TR-420 provides auto and manual Interrogator and Transponder IFF testing, plus Mode S Transponders, EHS, and ADS-B. 

 

TACAN/DME, ADS-B Transmit/Receive and TCAS testing functionality are also offered as part of the standard TR-420 test set capability.  The TR-420 is Tel s commercial product which is derived from the company s current Navy contract for the USM-708, which includes all of these functions, plus additional NAV/COMM/Sonobuoy and Shipboard tests.

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