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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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Tel-Instrument Electronics Corp. to host conference call to discuss Fiscal First Quarter 2016 results

. Posted in About Us

Tel-Instrument Electronics Corp. TO HOST CONFERENCE CALL TO DISCUSS

FISCAL FIRST QUARTER 2016 RESULTS

East Rutherford, NJ August 7, 2015 Tel-Instrument Electronics Corp (TIC or the Company) (NYSE MKT: TIK) will host a conference call and webcast on Wednesday, August 12, 2015 at 9:00 a.m. Eastern Time to discuss the Companys fiscal first quarter results.

To access the live webcast, log onto the Tel-Instrument Electronics website at https://www.telinstrument.com/learn-about-telinstrument/investor-relations.html.

To participate in the call by phone, dial (877) 407-8035 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8035.

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Tel-Instrument Electronics Corp. Holds Annual Meeting and Announces Third Quarter Estimated Revenues

. Posted in About Us

Tel-Instrument Electronics Corp. Holds Annual Meeting and Announces Third Quarter Estimated Revenues of $5 Million, A 40% Increase over the Second Quarter

East Rutherford, NJ January 22, 2015 Tel-Instrument Electronics Corp. (TIC) (NYSE MKT: TIK) held its Annual Meeting on January 21, 2015, and delivered a presentation to the shareholders. A copy of the Shareholder Presentation has been filed as an exhibit to the Companys Current Report on Form 8-K filed with the SEC on January 22, 2015. The Company also announced that third quarter revenues are estimated at $5 million, a 40% increase over the second quarter.

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.


VIEW the Annual Meeting Minutes Presentation

ppttel annual meeting presentation jan 21 2015.ppt
(Adobe Reader is required).

# # #

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.



Contacts

Tel-Instrument Electronics Corp
Joseph P. Macaluso, 201-933-1600
or
Institutional Marketing Services (IMS)
John Nesbett or Jennifer Belodeau
203-972-9200

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