Welcome to our dedicated page for Tessco Technologies news (Ticker: TESS), a resource for investors and traders seeking the latest updates and insights on Tessco Technologies stock.
TESSCO Technologies, Inc. (NASDAQ: TESS) serves as a vital hub for wireless infrastructure innovation, connecting businesses with cutting-edge solutions for over three decades. This dedicated news center provides investors and industry professionals with essential updates about this leading technology distributor's market position and strategic developments.
Access real-time updates on financial performance, product innovations, and strategic initiatives that shape TESSCO's role in mobile communications and IoT solutions. Our curated news collection features official earnings reports, partnership announcements, and operational updates directly impacting the company's trajectory in wireless technology markets.
Discover updates spanning key business areas including network infrastructure deployments, IoT solution advancements, and retail distribution expansions. The resource serves both technical professionals seeking component-level developments and investors monitoring financial health in the rapidly evolving wireless sector.
Bookmark this page for streamlined access to verified information about TESSCO's market activities. Regular updates ensure you maintain current awareness of this NASDAQ-listed company's progress in connecting the world through innovative wireless solutions.
TESSCO Technologies (NASDAQ: TESS) announced a new patent for its T-Bar Bracket designed for Aruba 500 Series Access Points. This innovation allows for easier installation of Aruba access points without proprietary brackets, significantly reducing setup time in corporate and educational environments. Thad Lowe, VP of Ventev, emphasized the company's commitment to wireless infrastructure innovation and patent growth, reinforcing Ventev's role as a leader in the sector.
TESSCO Technologies (NASDAQ: TESS) will announce its fiscal second quarter financial results for the period ending September 27, 2020, after market close on October 28, 2020. A conference call will follow on October 29 at 8:30 a.m. ET to discuss these results, with call-in options provided. Founded over 30 years ago, TESSCO is a leading value-added distributor in the wireless industry, offering a wide range of products and solutions for commercial customers.
TESSCO Technologies (NASDAQ: TESS) filed a consent revocation statement with the SEC on October 15, 2020, urging shareholders to reject a campaign by founder Robert B. Barnhill, Jr. to remove five board members. The board asserts Barnhill's proposals are self-serving and lack new ideas, as they mirror the company's existing strategic plan. The board is already implementing a refreshment process to enhance governance and diversity. The Special Committee encourages shareholders to sign the GREEN Consent Revocation Card against Barnhill's proposals, claiming they jeopardize shareholder value.
TESSCO Technologies (NASDAQ: TESS) announced that founder Robert Barnhill Jr. has filed with the SEC to remove five board members and replace them with his selected candidates. The current board, excluding Barnhill, contains seven directors, six of whom are independent. A Special Committee has been formed to review Barnhill's proposal without requiring immediate action from shareholders. TESSCO is focused on capital reallocation, growth strategies in distribution and innovative products, and enhancing e-commerce initiatives, anticipating profitability improvements in the latter half of the fiscal year.
On September 28, 2020, Robert B. Barnhill, Jr., the largest shareholder of TESSCO Technologies (NASDAQ: TESS), announced plans to initiate a consent solicitation to remove current board members due to significant shareholder value loss—over 70% in five years. He aims to reconstitute the board with new directors to improve strategic direction and execution. Shareholder dissatisfaction was evident at the 2020 annual meeting, where four directors received less than 52% of votes. Barnhill's proposal includes lowering special meeting thresholds and repealing recent board amendments without shareholder approval.
FAQ
What is the market cap of Tessco Technologies (TESS)?
