Investor Relations
Tel-Instrument Electronics Corp. Reports Financial Results For First Quarter FY 2024
Tel-Instrument Electronics Corp. Reports Financial Results For First Quarter FY 2024
East Rutherford, NJ – August 11, 2023 – Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net income of $295K ($0.07 per basic and $0.06 per diluted share) on revenues of $2.9 million for the first quarter of 2024 fiscal year, ended June 30, 2023.
Notes On First Quarter:
· Revenues for the first quarter were $2.9 million, a 27% increase from $2.3 million in the year-ago quarter.
· The gross margin percentage increased to 45% versus 37% in the year-ago quarter.
· Operating expenses decreased by $205K, a 19% decline versus the year ago level as a result of funded engineering projects.
· Operating income was $420K as compared to an operating loss of $244K in the year ago quarter.
· Net income was $295K or $0.07 per share, compared to net loss of $233K or $(0.10) per share in the year-ago quarter.
· The Company recorded $706K in positive cash-flow from operating activities for the quarter with cash balances improving to $6.5 million.
· Backlog decreased to $5.3 million at the end of the first quarter, a $1.2 million decrease from the prior quarter-end.
Tel-Instrument Electronics Corp. Reports Financial Results For Fiscal Year 2023
Tel-Instrument Electronics Corp. Reports Financial Results For Third Quarter FY 2023
East Rutherford, NJ – February 13, 2023 – Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net income of $393K ($0.10 per basic and $0.08 per diluted share) on revenues of $2.3 million for the third quarter of 2023 fiscal year, ended December 31, 2022.
Tel-Instrument Electronics Corp. Reports Net Income of $1.3 Million for FY 2022
Highlights include:
· Revenues for the fiscal year ended March 31, 2022, increased $1.4 million, or 12%, versus the prior fiscal year.
· Gross margins for the 2022 fiscal year were 44.6%, or a 3.3 percentage point improvement over the prior fiscal year.
Q1 FY 23 Press Release
FY 2023 and Receipt of Navy Upgrade Contract for the CRAFT Test Set
East Rutherford, NJ – August 15, 2022 – Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net loss of $233K or ($0.10) per basic and diluted share on revenues of $2.3 million for the first quarter of 2023 fiscal year, ended June 30, 2022. TIC also reported the receipt of a contract this week from the U.S. Navy to upgrade fielded CRAFT test sets to remove product obsolescence and add new capabilities. This contract includes $2.9 million of non-recurring engineering (“NRE”) and provision for the upgrade of fielded Navy CRAFT test sets.
