Tel-Instrument Electronics Corp Announces Continued Improvement in Second Quarter FY 2012
For the second quarter ended September 30, 2011, revenues increased 20.2% to $3,674,354, compared to $3,055,933 in the second quarter ended September 30, 2010. The Company achieved net income of $103,316, or $0.04 per share in the second quarter of fiscal 2012 compared to a net loss of $87,994 or a loss of $0.03 per share in the second quarter of fiscal 2011. In the first half of fiscal 2012, revenues grew 39.1% to $7,664,565 as compared to revenue of $5,511,213 for the same period in the prior year. Tel reported net income of $279,165 or $0.10 per share in the first six months of fiscal 2012, compared to a net loss of $363,406 or a loss of $0.14 per share in the first six months of fiscal 2011. The Company’s backlog has increased to approximately $47 million at September 30, 2011 as compared to approximately $33 million a year ago.
Tel-Instrument Electronics Corp Announces Third Quarter Results
Tel Instrument Electronics Corp. Announces Second Quarter Results
Tel-Instrument Electronics Corp (“TIK”) Announces Improved Results for Second Quarter of 2011 Fiscal Year
Carlstadt, NJ – November 16, 2010 – Tel Instrument Electronics Corp. (“Tel” or “Company”) whose stock is traded on the NYSE AMEX under the “TIK” symbol announced today that it sustained a net loss of approximately $88,000 in the second quarter of fiscal year 2011 on sales of $3.05 million. Revenues increased 24% from the first quarter and the net loss decreased substantially from both the prior year period and the first quarter.
New Avionics Ramp Test Sets - The Rollout of IFF Mode 5
The Rollout of IFF Mode 5
Tel-Instrument has announced a new advanced avionics ramp test set, the TR-420 with IFF Mode 5 support and Mode S EHS test capability, both of which are new military requirements. The TR-420 provides auto and manual Interrogator and Transponder IFF testing, plus Mode S Transponders, EHS, and ADS-B.
TACAN/DME, ADS-B Transmit/Receive and TCAS testing functionality are also offered as part of the standard TR-420 test set capability. The TR-420 is Tel’s commercial product which is derived from the company’s current Navy contract for the USM-708, which includes all of these functions, plus additional NAV/COMM/Sonobuoy and Shipboard tests.
AN/ARM-206 Automated Test Equipment (ATE)The AN/ARM-206 is the military avionics industry’s first fully automated TACAN test set and is designed for depot and intermediate level support. It supports automated testing of the AN/ARN-118, the AN/ARN-136 and the AN/ARN-153 airborne TACAN units. It replaces the legacy AN/ARM-155; AN/ARM-156; AND 972V-1 TACAN test sets.
Tel-Instrument Announces $1.71 Million Army Order
Army OrderCARLSTADT, N.J.--(BUSINESS WIRE)--Tel-Instrument Electronics Corp (AMEX:TIK) is pleased to announce that it has received a $1.71 million delivery order from the U.S. Army for 100 T-47N test sets. This delivery order represents the remaining units on the IDIQ (indefinite-delivery/indefinite-quantity) contract awarded to the Company earlier this year. The Company expects to deliver all 100 units in the current fiscal year.
Army Contract Awarded
Tel-Instrument Electronics Corp Announces New ContractCARLSTADT, N.J.--(BUSINESS WIRE)--Sept. 1, 2004--Tel-Instrument Electronics Corp announced today that it has received a $1,600,000 contract to supply T-36M ramp test sets to the Army National Guard. The Company expects to complete delivery of all units under this contract during the current fiscal year.
Q1 '08 Results
Tel Instruments Electronic Corp. Announces First Quarter ResultsCARLSTADT, N.J.--(BUSINESS WIRE)--Tel Instrument Electronics Corp. (AMEX: TIK - News) announced today its results of operations for the quarter ended June 30, 2008 (fiscal year 2009).
Preliminary FY '08 Results
Tel-Instrument Electronics Corp Announces Preliminary Results for 2008 Fiscal Year and Two New ContractsCARLSTADT, N.J.--(BUSINESS WIRE)--Tel Instrument Electronics Corp. (Tel) announced today its unaudited results of operations for the year and the quarter ended March 31, 2008 (fiscal year 2008). The Company’s sales increased substantially, but it still incurred a significant, but reduced, operating loss due to continuing high engineering expenditures for the CRAFT products (AN/USM-719 and AN/USM-708), a lower gross profit margin on the documentation and testing phase of the ITATS (AN/ARM-206) program, and the fourth quarter write-down of Tel’s investment in its ITI hydrographic subsidiary.
ITATS Protest Dismissal
Tel-Instrument Electronics Corp. announces ITATS Protest DismissalCarlstadt, NJ–January 24, 2007: Tel-Instrument Electronics Corp (AMEX: TIK) has been notified by the U.S. Navy that the protests filed with the Government Accountability Office (GAO) relating to the award of the Intermediate Level TACAN Test Set (ITATS) contract to the Company have been dismissed. As a result, Tel and its subcontractors, will resume work immediately on this important product.
The ITATS award value for the firm-fixed price; indefinite-delivery/indefinite-quantity is estimated at $12,700,000, including future deliverables of up to 180 units. The Company has received the first delivery order valued at $4,443,816 for systems engineering, fabrication, testing, and associated logistics costs for six First Article Test units.
- ANSI/ESD Certification
- Navy Awards Contract for Test Set
- TR-220 Multifunction Test Set Upgrade
- Two New Databus Analyzers
- T-47G Receives Certification
- Global Package Delivery Selects Tel-Instrument
- Estimated Results 3/04
- British Airways TR-220 Award
- U.S. Navy Order
- Listed on AMEX
- New FLEXIBUS product