Welcome to our dedicated page for Tel Instrument Electronics news (Ticker: TIKK), a resource for investors and traders seeking the latest updates and insights on Tel Instrument Electronics stock.
Tel-Instrument Electronics Corp. (TIKK) uses Business Wire releases to provide regular updates on its operations as a designer and manufacturer of avionics test and measurement solutions. This news stream centers on developments affecting its specialized test sets for commercial and military aviation, including CRAFT, SDR-OMNI, SDR-OMNI/MIL, MADL, TS-4530A, and T-4530i programs.
Readers following TIKK news can review quarterly and annual financial results, where the company reports net sales, margins, operating expenses, and net income or loss, along with commentary on order backlog and major contracts. These releases often explain how supply chain conditions, funded engineering projects, and specific contracts such as CRAFT ECP, SDR-OMNI, and MADL influence reported performance.
Company news also covers contract milestones and customer wins. Examples include selection of the SDR-OMNI test set by Airbus for worldwide manufacturing operations, approval of SDR-OMNI by Boeing, initial SDR-OMNI/MIL orders from domestic and overseas defense customers, and Navy-related CRAFT ECP testing and production approvals. Tel-Instrument’s updates describe progress on engineering milestones like Test Readiness Reviews and platform testing, as well as expectations the company expresses about future production phases.
In addition, Tel-Instrument’s releases discuss legal and capital structure events, such as the Aeroflex litigation outcome, payment of the related judgment, preferred stock issuances, and use of credit facilities. Investors and aviation industry observers can use this news feed to track how these factors, together with new orders and backlog changes, shape the company’s outlook as described in its own communications. For ongoing context on TIKK, this page aggregates those public updates in one place.
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Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported a net income of $393K ($0.10 per share) for the third quarter of fiscal 2023, despite a revenue decline of 27% to $2.3 million from $3.2 million year-over-year. The gross margin fell to 38% from 44%, reflecting volume-related issues. Operating expenses decreased by 14%, but the company faced an operating loss of $66K compared to a profit of $293K in the previous year. Backlog increased to $5.6 million. The company anticipates a return to normal production levels by Q1 FY2024 and strong growth from new contracts, particularly the SDR/OMNI and CRAFT programs, as well as positive responses from customers.
Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported a net loss of $477K ($0.17/share) and revenues of $2.0 million for Q2 FY2023, down 44% from $3.6 million the previous year. Gross margin fell from 46% to 27%. Operating expenses decreased by 15% to $194K. Backlog grew to $6.2 million, while cash balances dropped to $5.5 million. CEO Jeffrey O'Hara cited ongoing parts shortages affecting production and shipping, yet expressed optimism for improved performance in the second half of the year due to received components and major contracts in the pipeline.
Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported a net loss of $233K for Q1 FY 23, ending June 30, 2022, with revenues of $2.3 million, down 55% year-over-year. The company received a $2.9 million contract from the U.S. Navy for upgrades on CRAFT test sets, expected to generate $20 to $30 million in production revenues over the next 2.25 years. Operating expenses decreased by 14% to reduce losses, though cash reserves fell by $700K. Despite challenges from parts shortages, Tel-Instrument remains optimistic about future growth driven by new contracts and products.
Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported net income of $1.3 million ($0.30 per basic share) on revenues of $12.9 million for the fiscal year ending March 31, 2022. Revenue increased by 12% year-over-year, with gross margins improving to 44.6%. Operating income rose to $937,000 from $73,000 the previous fiscal year. The company improved cash balances to $7 million and working capital to $3.7 million. Challenges due to supply chain disruptions were noted, but there is optimism for the SDR/OMNI test set's market reception and ongoing contract negotiations with the U.S. Navy.
Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported a net income of $195K ($0.04 per share) on revenues of $3.17 million for Q3 FY2022, marking a 19% revenue increase year-over-year. Operating expenses dropped 10% to $1.1 million. The company achieved an operating income of $293K, up from a loss of $224K in the prior year. Cash balances increased to $7.3 million. However, ongoing supply chain challenges are anticipated to impact Q4 revenues. The company remains in a strong financial position to manage disruptions while progressing on product development.
Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported a net income of $1M ($0.28/share) on revenues of $3.6M for Q2 FY2022, marking an 8% increase year-over-year. Gross margins improved to 46.2% due to operational efficiencies. Operating expenses rose by 25% to $1.3M, influenced by profit-sharing and increased engineering costs for the SDR-OMNI product line. Cash balances increased to $6.8M, with net worth up to $6.6M. The company anticipates strong demand in military sectors, particularly for Mode 5 test sets and F-35 orders, while preparing for commercial market expansion.
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Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported a net income of $576k ($0.15 per share) on revenues of $4.1 million for Q1 of fiscal year 2022, marking a 40.6% revenue increase year-over-year. Operating income rose to $766k from $209k a year prior, while EBITDA improved to $812k. Gross margins stood at 48.8%. Cash balances increased to $6.8 million, with a strong backlog of $6.1 million. The company is boosted by military sales and a rebound in commercial business, while managing operating expenses effectively. Plans for product upgrades and litigation appeal are in progress.
Tel-Instrument Electronics Corp. (OTCQB: TIKK) reported a net income of $600,057 for the fiscal year ending March 31, 2021, down from $4.7 million in 2020, driven by a 27% decline in sales due to COVID-19 impacts. Revenues totaled $11.6 million, with a gross margin decrease of $2.6 million. Despite challenges, the company ended with a cash balance of $5.5 million and a sales backlog of $7.6 million. Looking ahead, TIC anticipates improvements in FY 2022, focusing on hardware and software upgrades, and strong military business, while managing supply chain disruptions.