Investor Relations
Tel-Instrument Electronics Corp. Reports Financial Results for First Quarter 2018
Tel-Instrument Electronics Corp. Reports Financial Results for First Quarter 2018
East Rutherford, NJ – August 17, 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 its financial results for the first quarter of fiscal year 2018.
Financial Results for First Quarter of Fiscal Year 2018
Subsequent Events
East Rutherford, NJ – August 17, 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 its financial results for the first quarter of fiscal year 2018.
Financial Results for First Quarter of Fiscal Year 2018
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Revenues decreased to $3.5 million from $5.3 million in the first quarter of 2017. |
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Gross profit decreased to $1.2 million from $1.9 million in the first quarter of 2017. |
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Operating expenses decreased 8% to $706k as compared to $768k in the first quarter last year. |
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Litigation expenses increased to $383k, as compared to $144k in the first quarter of the prior fiscal year. |
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Engineering, research and development expenses increased 5% to $615k or 17% of revenues. |
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Operating loss was $463k compared to operating income of $380k in the first quarter of 2017. |
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Net loss was $286k versus net income of $410k in the first quarter of fiscal year 2017. |
Subsequent Events
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In July 2017, the court heard the Company’s motion for reduction or elimination of the jury award as well as conducting a hearing as to possible punitive damages. The Company is currently awaiting the court’s decision. |
TEL-INSTRUMENT ELECTRONICS CORP. TO HOST CONFERENCE CALL TO DISCUSS FISCAL FIRST QUARTER 2018 RESULTS
East Rutherford, NJ – August 14, 2017 – Tel-Instrument Electronics Corp (“TIC” or the “Company”) (NYSE American: TIK) will host a conference call and webcast on Thursday, August 17, 2017 at 9:00 a.m. Eastern Time to discuss the Company’s fiscal first quarter 2018 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.
A replay of the teleconference will be available until September 17, 2017 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 19960.
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.
A replay of the teleconference will be available until September 17, 2017 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 19960.
TEL-INSTRUMENT ELECTRONICS CORP. TO HOST CONFERENCE CALL TO DISCUSS FISCAL FOURTH QUARTER 2017 RESULTS
Tel-Instrument Electronics Corp. TO HOST CONFERENCE CALL TO DISCUSS FISCAL FOURTH QUARTER 2017 RESULTS
East Rutherford, NJ – July 14, 2017 – Tel-Instrument Electronics Corp (“TIC” or the “Company”) (NYSE MKT: TIK) will host a conference call and webcast on Monday, July 17, 2017 at 9:00 a.m. Eastern Time to discuss the Company’s fiscal fourth quarter 2017 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.
A replay of the teleconference will be available until August 17, 2017 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 17948.
Tel-Instrument Electronics Corp. Reports Net Income of $142,000 or $0.04 per Basic Share for the Third Quarter of Fiscal 2017
Tel-Instrument Electronics Corp. Reports Net Income of $142,000 or $0.04 per Basic Share for the Third Quarter of Fiscal 2017
East Rutherford, NJ – February 14, 2017 – 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 ended December 31, 2016.
Highlights for Third Quarter of Fiscal Year 2017
· Revenues decreased 29% to $4.24 million from $5.97 million in the third quarter of fiscal year 2016.
· Gross margin percentage improved to 38.6% versus 34.1% for the comparable quarter in the previous year.
· Legal expenses for the quarter increased to $287k versus $150k for the same quarter last year.
· Operating income decreased to $154k as compared to $725k in the third quarter of fiscal year 2016.
· Pre-tax income was $178k for the third quarter this year versus $454k last year.
· Net income was $142k, or $0.04 per basic share versus $227k, or $0.07 in the third quarter of 2016.
· $1.6 million reduction in liabilities since March 31, 2016.
· Stockholders’ equity increased to $5.5 million as compared to $4.7 million at March 31, 2016.
· Significantly increased quote activity for many of the Mode 5 international markets.
East Rutherford, NJ – February 14, 2017 – 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 ended December 31, 2016.
Highlights for Third Quarter of Fiscal Year 2017
· Revenues decreased 29% to $4.24 million from $5.97 million in the third quarter of fiscal year 2016.
· Gross margin percentage improved to 38.6% versus 34.1% for the comparable quarter in the previous year.
· Legal expenses for the quarter increased to $287k versus $150k for the same quarter last year.
· Operating income decreased to $154k as compared to $725k in the third quarter of fiscal year 2016.
· Pre-tax income was $178k for the third quarter this year versus $454k last year.
· Net income was $142k, or $0.04 per basic share versus $227k, or $0.07 in the third quarter of 2016.
· $1.6 million reduction in liabilities since March 31, 2016.
· Stockholders’ equity increased to $5.5 million as compared to $4.7 million at March 31, 2016.
· Significantly increased quote activity for many of the Mode 5 international markets.
Tel-Instrument Electronics Corp. Reports Net Income of $272,000 or $0.08 per Basic Share for the Second Quarter of Fiscal 2017
Tel-Instrument Electronics Corp. Reports Net Income of $272,000 or $0.08 per Basic Share for the Second Quarter of Fiscal 2017
East Rutherford, NJ November 9, 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 second quarter ended September 30, 2016.
Highlights for Second Quarter of Fiscal Year 2017
Revenues decreased 25.6% to $5.08 million from $6.82 million in the second quarter of fiscal year 2016.
Gross margin percentage improved to 36.0% versus 32.9% for the comparable quarter in the previous year.
Legal expenses increased to $188k versus $108k in the year ago quarter.
Operating income decreased to $367k as compared to $916k in the second quarter of fiscal year 2016.
Non-GAAP Adjusted EBITDA was $411k as compared to $964k in the second quarter last year.
Pre-tax income in the second quarter of $382k versus $370k in the 2016 comparable period.
Net Income was $272k, or $0.08 per basic share versus $199k or $0.06 in the second quarter of 2016.
$1.8 million reduction in liabilities since March 31, 2016 including the satisfaction of the $720k BCA Mezzanine Fund LLP ( BCA ) warrant liability.
East Rutherford, NJ November 9, 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 second quarter ended September 30, 2016.
Highlights for Second Quarter of Fiscal Year 2017
Revenues decreased 25.6% to $5.08 million from $6.82 million in the second quarter of fiscal year 2016.
Gross margin percentage improved to 36.0% versus 32.9% for the comparable quarter in the previous year.
Legal expenses increased to $188k versus $108k in the year ago quarter.
Operating income decreased to $367k as compared to $916k in the second quarter of fiscal year 2016.
Non-GAAP Adjusted EBITDA was $411k as compared to $964k in the second quarter last year.
Pre-tax income in the second quarter of $382k versus $370k in the 2016 comparable period.
Net Income was $272k, or $0.08 per basic share versus $199k or $0.06 in the second quarter of 2016.
$1.8 million reduction in liabilities since March 31, 2016 including the satisfaction of the $720k BCA Mezzanine Fund LLP ( BCA ) warrant liability.
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