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TEL-INSTRUMENT ELECTRONICS CORP. ANNOUNCES THIRD QUARTER REVENUES OF $6.1 MILLION AND RECEIPT OF $1.43 MILLION CRAFT 708 ORDER

. Posted in About Us

TEL-INSTRUMENT ELECTRONICS CORP. ANNOUNCES THIRD QUARTER REVENUES OF $6.1 MILLION AND RECEIPT OF $1.43 MILLION CRAFT 708 ORDER

East Rutherford, New Jersey January 7, 2016 Tel-Instrument Electronics Corp ( Tel , or the Company ) (NYSE MKT: TIK) today announced that FY 2016 third quarter unaudited revenues for the period ending December 31, 2015 increased to $6.1 million, a 21% increase over year ago levels.

The Company also reported receipt this week of a $1.43 million order from Lockheed Martin for 40 CRAFT 708 units with delivery scheduled for the first and second quarters of the 2017 fiscal year, which begins April 1, 2016. These units are to be used on the Joint Strike Fighter ( JSF ) Program. This brings total CRAFT orders for this program to $4.4 million.

Jeffrey C. O Hara, the Company s President and CEO, stated the third quarter represented a continuation of the momentum we have seen over the last year. We are also proud that our CRAFT multi-purpose test set has been chosen for the JSF program. We have also begun to receive orders for our new TR-36 navigation test set which we believe will be very competitive in the marketplace.

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.


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2016 2nd Quarter Investor Presentation (PDF)

. Posted in About Us

Tel-Instrumenr Electronics Corp. presents our 2016 Investor Presentation.

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

. Posted in About Us

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.

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

. Posted in About Us

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

Revenues for the Second Quarter 2016 increased 90% to a record $6.8 Million


Basic Earnings per Share Increases to $0.09 for the Quarter from a Loss of $0.12 Last Year


Non-GAAP EBITDA of $964,465 or $0.30 per Share
 

East Rutherford, NJ November 16, 2015 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 second quarter of fiscal year 2016 ended September 30, 2015.

Highlights

Revenues increased to $6.8 million, a 90% increase versus the comparable period of fiscal year 2015.

Operating income increased to $916k, a $1.2 million improvement versus second quarter of 2015.

Strong operating cash flow and significant improvement in cash balances.

Interest expense dropped 55% over the comparable period of the previous year due to new bank deal and lower balances.

Non-GAAP EBITDA of $964,465 or $0.30 per share.

? Tax accrual included in our GAAP accounting is a non-cash item due to Tels large tax NOL.

$519k warrant valuation increase due to trailing 12 months EBITDA doubling to over $2.4 million.

GAAP earnings per share of $0.06 per share, versus a loss of $0.08 per share in the comparable period of the previous year.

Revenues for the second quarter were $6,818,390, a 90% increase from $3,587,674 in the comparable period of fiscal year 2015. Gross margin for the quarter increased to $2,243,466 as compared to $869,344 for the same period last year. This gross margin improvement is primarily attributed to the increase in revenue levels and improved factory efficiency. Selling, general and administrative expenditures increased by $224k versus the comparable period ended September 30, 2014 due to profit sharing accruals and higher commission expenses. Research and development expenses decreased slightly from the comparable period ended September 30, 2014 despite continued investment in our next generation of avionics and communications test sets.

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

. Posted in About Us

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



Revenues for the First Quarter 2016 increased 87% to $5.8 Million



Basic Earnings per Share Increases to $0.09 for the Quarter from a Loss of $0.12 Last Year



Non-GAAP EBITDA of $506,000 or $0.16 per Share



East Rutherford, NJ August 12, 2015 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 first quarter of fiscal year 2016 ended June 30, 2015.

Highlights

Revenues increased to $5.8 million, an 87% increase versus the comparable period of fiscal year 2015.

Pre-tax income increased to $494k, a $991k improvement versus the first quarter of fiscal year 2015.

Operating expenses declined to 23% of revenues versus 44% in the first quarter of fiscal year 2015.

GAAP basic earnings of $0.09 per share, versus a loss of $0.12 per share in the year ago period.

Non-GAAP EBITDA of $506,000 or $0.16 per share. It should be emphasized that the tax accrual included in our GAAP accounting is a non-cash item due to the Companys large net operating loss carry-forward (NOL).



Revenues for the first quarter were $5,845,919, an 87% increase from $3,129,076 in the comparable period of fiscal year 2015. Gross margin for the quarter increased to $1,815,295 as compared to $1,120,217 for the same period last year. This increase is mostly attributed to the increase in volume of revenues, especially for the TS-4530A KITS and ITATS. Gross margin percentage decreased compared to the same quarter last year due to a change in sales mix, primarily due to the increase in sales for the TS-4530 and ITATS programs which have lower margins as these programs were competitively bid. Research and development expenses increased slightly as the Company focuses on developing its next generation of avionics and communications test sets.

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