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Tel-Instrument Electronics Corp. Reports Net Income of $410,000 or $0.13 per Share for the First Quarter of Fiscal 2017

Tel-Instrument Electronics Corp. Reports Net Income of $410,000 or $0.13 per Share for the First Quarter of Fiscal 2017



East Rutherford, NJ – August 18, 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 first quarter ended June 30, 2016.

Highlights for First Quarter of Fiscal Year 2017

 

·      Revenues decreased 8.6% to $5.34 million from $5.85 million in the first quarter of FY 2017.

·      Gross margin percentage improved to 35.1% versus 31.1% for the same quarter last year.

·      Gross margin increased to $1.88 million, a $61k improvement over the first quarter of 2016.

·      Operating income decreased to $380k as compared to $457k in the first quarter of FY 2016.

TR-36 Equivalency Specifications

July 25, 206       

TO:  All commercial operators of TIC T-30 and T-36 series NAV/COMM Ramp Testers

SUBJECT:  New TIC TR-36 NAV/COMM Ramp Tester Equivalence to previous TIC units

fp masterTIC is proud to introduce the new TR-36 NAV/COMM Ramp Test set (TIC P/N 90000136) to the commercial aviation marketplace.  This is a new product based on a proven hardware platform that TIC has supplied to the US military for the last several years.  The software on the new TR-36 has been developed for the commercial avionics ramp test market with test capability for new and legacy avionics on today’s aircraft. 

The TR-36 electrical and RF specifications meet or exceed those of all previous TIC NAV/COMM testers, including the T-30 series (T-30C, T-30CM1, T-30CM2 and T-30D) and the T-36 series (T-36C and T-36M).  It is a suitable and cost-effective equivalent for those models.

In addition, the TR-36 incorporates new features, including the ability to test 406 MHz ELTs and SELCAL radios.

The TR-36, TIC P/N 90000136, is a direct replacement for the T-30C, T-36C and T-36M products, which have been discontinued.   

The new TR-36 is a software radio design that features extremely stable RF performance over temperature due to its self-calibrating design.  It also has the capability for field software updates as the industry requirements evolve.

For further technical inquiries, please contact TIC Product Support at 201-933-1600 x 302 or www.telinst.com.

Chris Allen
Vice-President of Business Development
Tel-Instrument Electronics Corporation
1 Branca Road, East Rutherford, NJ  07073

Tel-Instrument Electronics Corp. Reports Financial Results for Fourth Quarter and Fiscal Year 2016

Tel-Instrument Electronics Corp. Reports Financial Results for Fourth Quarter and Fiscal Year 2016



Net Income of $1 Million and Non-GAAP Adjusted EBITDA of $2.8 Million



East Rutherford, NJ – June 29, 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 fourth quarter and year ended March 31, 2016.

Highlights for Fiscal Year 2016

·   Revenues increased to $24.8 million, a 36% increase versus fiscal year 2015

·   Gross margin as a percentage of revenues improved to 32.2% versus 29.9% in fiscal year 2015

·   Operating income increased to $2.6 million as compared to $330,000 in fiscal year 2015

·   Net Income of $1 million as compared to a loss of $280,000 last year 

·   Earnings per share of $0.31 compared to a loss of $0.09 in fiscal year 2015

·   Non-GAAP Adjusted EBITDA was $2.8 million as compared to $541,000 in fiscal year 2015

·   Working capital improved by $1.4 million to $4.0 million at March 31, 2016

·   Continued development of key hand-held modular communications and avionics test set products

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