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Tel-Instrument Electronics Corp. Reports Third Quarter Fiscal Year 2016 Financial Results

Tel-Instrument Electronics Corp. Reports Third Quarter Fiscal Year 2016
Financial Results
 
Revenues for the Third Quarter 2016 increased 19% to $5.97 Million
Non-GAAP EBITDA Increases to $773,862 or $0.24 per Share


East Rutherford, NJ February 16, 2016 Tel-Instrument Electronics Corp. ( Tel , Tel-Instrument or the Company ) (NYSE MKT: TIK), a leading designer and manufacturer of avionics test and measurement solutions, today reported its financial results for the third quarter of fiscal year 2016 ended December 31, 2015.

Highlights

Revenues increased to $5.97 million, a 19% increase versus the comparable period of fiscal year 2015.

Gross margins improved to 34% versus 31% in the comparable period of fiscal year 2015.

Operating income increased to $725k as compared to $226k in the third quarter of fiscal year 2015.

Non-GAAP EBITDA of $773,862 or $0.24 per share.

GAAP earnings per share of $0.07 per share, versus a loss of $0.01 per share in 2015.

Net working capital since the start of the fiscal year 2016 improved $1.6 million to $4.2 million.

Replaced our U.S. Army and U.S. Air Force outside marketing reps with internal resources to reduce commissions on the TS-4530A contract and drive future business with these key customers.

Tel-Instrument Electronics Corp at the 2015 MicroCap Conference (VIDEO)

Tel-Instrument Electronics Corp. attended the 2015 MicroCap Conference in Philadelphia, PA on November 5th 2015. SNNLive spoke with Mr. Jeffrey C. O'Hara, President and CEO of Tel-Instrument Electronics Corp. (NYSE MKT: TIK). See the video below to learn more about Tel-Instrument Electronics Corp. and our core business and growth opportunities.

Tel-Instrument Electronics Corp. Announces Full Rate Production Release on TS-4530A SETS

TS 430A 1Tel-Instrument Electronics Corp. Announces Full Rate Production Release on TS-4530A Sets



East Rutherford, NJ August 5, 2015 Tel-Instrument Electronics Corp ( Tel , Tel-Instrument or the Company ) (NYSE MKT: TIK) today reported that it has received the Full Rate Production Release for the TS-4530A SETS from the U.S. Army.

Jeff O Hara, Tel s President and CEO, noted, Receiving the Full Rate Production Release on the TS-4530A SETS represents an important milestone for the Company. It is expected that volume deliveries of TS-4530A SETS will commence late in the third fiscal quarter which ends December 31, 2015. We currently have a backlog of 688 TS-4530A SETS with a contract value of approximately $7.8 million, and we are also actively marketing this test set to both domestic and foreign markets.

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