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.

TEL-INSTRUMENT ANNOUNCES “DRIVE TO MODE 5” MARKETING
PROGRAM FOR INTERNATIONAL MODE 5 IFF CUSTOMERS

East Rutherford, New Jersey – August 25, 2017 – Tel-Instrument Electronics Corp (“Tel”, or the “Company”) (NYSE American: TIK) today announced the kick-off of our “DRIVE TO MODE 5” marketing campaign for our international Mode 5 IFF customers.

Jeffrey C. O’Hara, the Company’s President and CEO, stated “the transition to Mode 5 IFF test capability for our international customers will represent a massive undertaking involving thousands of different airborne, ship and ground based platforms. This new program is meant to raise awareness of our market leading Mode 5 test products, and provide financial and other incentives to ensure our international customers meet their Mode 5 fielding requirements well in advance of the January 1, 2020 deadline for all NATO and international allies.

Tel Instrument has five different Mode 5 test sets with over 5,000 of these units delivered, including our AN/USM-708, AN/USM,-719, TR-420, TS-4530, and T-47/M5 test sets. This represents an estimated 95% world-wide market share in Mode 5 flight-line testing. Our new T-47/M5 test set represents the most cost-effective upgrade option for our large base of international customers fielding our 480 and T-47 series Mode 4 test sets. Tel has already received orders for this new test set from three different international markets and expects to start delivering units starting in October. Our new Remote Client application will also provide substantial benefits to our customers for their Mode 5 certification efforts. This software allows the operator to utilize and control our Mode 5 test sets utilizing a Windows® computer or laptop and offers expanded and detailed printed test results not available on the standard test set display.”

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 defence 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 U.S. 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 safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the “Act”) protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.