Investor Relations
Tel-Instrument Electronics Corp. Reports Financial Results For First Quarter FY 2025
Tel-Instrument Electronics Corp. Reports Financial Results
For First Quarter FY 2025
East Rutherford, NJ – August 14, 2024 – Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net income of $42K ($0.02) per basic and per diluted share, on revenues of $2.8 million for the first quarter of 2025 fiscal year, ended June 30, 2024.
Notes On First Quarter:
· Revenues for the first quarter were $2.8 million, as compared to $2.9 million in the year-ago quarter.
· The gross margin percentage decreased to 26% versus 45% the year-ago period due to low margin CRAFT ECP invoices.
· Operating expenses decreased by $200K, a 23% decline versus the year ago level as a result of funded engineering projects.
· Net income was $42K or $(0.02) per share, compared to net income of $295K or $0.07 per share in the year-ago quarter.
· CRAFT ECP Test Readiness Review (“TRR”) was completed in April 2024.
· Bookings backlog was $7 million at the end of the first quarter.
For First Quarter FY 2025
East Rutherford, NJ – August 14, 2024 – Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net income of $42K ($0.02) per basic and per diluted share, on revenues of $2.8 million for the first quarter of 2025 fiscal year, ended June 30, 2024.
Notes On First Quarter:
· Revenues for the first quarter were $2.8 million, as compared to $2.9 million in the year-ago quarter.
· The gross margin percentage decreased to 26% versus 45% the year-ago period due to low margin CRAFT ECP invoices.
· Operating expenses decreased by $200K, a 23% decline versus the year ago level as a result of funded engineering projects.
· Net income was $42K or $(0.02) per share, compared to net income of $295K or $0.07 per share in the year-ago quarter.
· CRAFT ECP Test Readiness Review (“TRR”) was completed in April 2024.
· Bookings backlog was $7 million at the end of the first quarter.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the fiscal year ended March 31, 2024
Tel-Instrument Electronics Corp. Reports Financial Results For Fiscal Year 2024
Tel-Instrument Electronics Corp. Reports Financial Results
For Fiscal Year 2024
For Fiscal Year 2024
East Rutherford, NJ – June 28, 2024 – Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net income of $342K on revenues of $8.8 million for the 2024 fiscal year ended March 31, 2024.
Tel-Instrument 8-K 06-13-24
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June, 13 2024
TEL-INSTRUMENT ELECTRONICS CORP.
(Exact name of registrant as specified in its charter)
One Branca Road
East Rutherford, New Jersey 07073
(Address of principal executive offices)
(201) 933-1600
(Telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company â˜
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. â˜
Item 8.01 Other Events.
On June 12, 2024, Tel-Instrument Electronics Corp. (the “Company”) issued a press release announcing AIRBUS has selected the Company’s SDR-OMNI flight-line test set for use in their worldwide manufacturing operations. A copy of the Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
The information furnished under this Item 8.01 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June, 13 2024
TEL-INSTRUMENT ELECTRONICS CORP.
(Exact name of registrant as specified in its charter)
| New Jersey |
001-31990 |
22-1441806 |
| (State or other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
One Branca Road
East Rutherford, New Jersey 07073
(Address of principal executive offices)
(201) 933-1600
(Telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
||
| N/A |
N/A |
N/A |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☠|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☠|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☠|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☠|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company â˜
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. â˜
Item 8.01 Other Events.
On June 12, 2024, Tel-Instrument Electronics Corp. (the “Company”) issued a press release announcing AIRBUS has selected the Company’s SDR-OMNI flight-line test set for use in their worldwide manufacturing operations. A copy of the Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
The information furnished under this Item 8.01 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description |
|
| 99.1 |
Press Release, dated June 12, 2024, Tel-Instrument Electronics Corp. Reports Selection of the SDR-OMINI Test Set by AIRBUS |
|
| 104 |
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
Airbus Press Release 6-12-24
Tel-Instrument Electronics Corp. Reports
Selection of the SDR-OMNI Test Set by AIRBUS
East Rutherford, NJ – June 12, 2024 – Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, reported the receipt of an initial order from Muirhead, our European distributer, for the new “all-in-one” SDR-OMNI flight-line test set. These units will be sold to Airbus for use in their world-wide manufacturing operations.
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