Product Discontinuation Notification
05 April 2016
Our Valued Customers,
This letter serves as formal notification that Tel-Instrument Electronics Corp. is discontinuing the production of the following two (2) products:
T-36C NAV/COMM Ramp Test Set (P/N 90000026)
T-36M NAV/COMM Ramp Test Set (P/N 90000058)
Tel-Instrument Electronics Corp. acknowledges the obligation to promptly inform our customers of the intent to exit products and provide an alternative product exceeding the former Test Sets capability.
It is our objective to support the T-36C and T-36M for 5 additional years dependent on availability of parts and supplies, at which time the support will end.
The Test Sets will no longer be available for purchase after July 1, 2016.
The replacement Test Set for the T-36C and T-36M is Tel-Instrument Electronics Corp. TR-36 NAV/COMM Test Set (P/N 90000136).
Tel-Instrument Electronics Corp. appreciates and values our business relationship and looks forward to your continued interest in our products. While we regret any inconvenience this announcement may cause, we are eager to supply your future product requirements with our world-class quality product lines.
To best serve you, all inquiries and requests should be directed through our sales department or one of our worldwide distributors.
Product Support Manager
Tel-Instrument Electronics Corp
Tel-Instrument Electronics Corp. Reports Third Quarter Fiscal Year 2016
Revenues for the Third Quarter 2016 increased 19% to $5.97 Million
Non-GAAP EBITDA Increases to $773,862 or $0.24 per Share
East Rutherford, NJ – February 16, 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 third quarter of fiscal year 2016 ended December 31, 2015.
· Revenues increased to $5.97 million, a 19% increase versus the comparable period of fiscal year 2015.
· Gross margins improved to 34% versus 31% in the comparable period of fiscal year 2015.
· Operating income increased to $725k as compared to $226k in the third quarter of fiscal year 2015.
· Non-GAAP EBITDA of $773,862 or $0.24 per share.
· GAAP earnings per share of $0.07 per share, versus a loss of $0.01 per share in 2015.
· Net working capital since the start of the fiscal year 2016 improved $1.6 million to $4.2 million.
· Replaced our U.S. Army and U.S. Air Force outside marketing reps with internal resources to reduce commissions on the TS-4530A contract and drive future business with these key customers.
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.