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TSS, Inc. reports developments tied to data center services, AI infrastructure, and high-performance computing integration. The company builds, integrates, and deploys custom high-volume technology solutions for data centers and related enterprise environments, with recurring updates focused on systems integration, procurement activity, facilities management, rack integration capacity, customer demand, and software and infrastructure deployment.
Company news also covers quarterly and annual financial results, conference presentations, executive and board appointments, industry commentary on high-performance computing and data center technology, and business outlook commentary linked to AI and cloud infrastructure markets.
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TSS, Inc. (TSSI) reported its financial results for Q4 and fiscal year 2022, revealing a Q4 revenue of $10.9 million, down from $14.6 million in Q4 2021. Reseller revenues also decreased to $7.6 million from $11.7 million. Despite a lower gross margin of 18%, up from 12% year-over-year, the company faced an operating loss of $723,000. The fiscal year saw revenue growth to $30.6 million, compared to $27.4 million in 2021, with a notable adjusted EBITDA increase to $2,243,000. Management attributes Q4 losses to one-time CEO transition costs but maintains a positive outlook for 2023, expecting profitable growth.
TSS, Inc. (TSSI) is set to report its fourth-quarter and fiscal 2022 financial results on April 3, 2023. A conference call will take place at 4:30 PM Eastern Time, where investors can participate via phone or access a live audio webcast on the company's investor relations website.
After the call, an audio replay will be available for four hours until May 3, 2023. TSS provides a suite of services for data centers and critical facilities, including system integration and IT procurement, emphasizing its role as a single-source solution for technology needs.
TSS, Inc. (TSSI) reported significant growth in its third-quarter results for 2022, achieving revenue of $8.1 million, up from $4.6 million in Q3 2021. Despite a decrease in gross margin to 34% from 42%, operating income rose to $871,000 compared to $228,000 last year. Net income also improved to $605,000, or $0.03 per share, from $123,000, or $0.01 per share. Year-to-date revenue reached $19.7 million, an increase from $12.8 million in 2021. The company appointed Darryll Dewan as President and CEO, expressing optimism for future growth and demand.
TSS, Inc. has announced the appointment of Darryll Dewan as President and CEO, succeeding Anthony Angelini. Dewan, an industry veteran with over 30 years of experience, aims to drive growth and operational improvements. The company is reportedly in a strong position financially, with a solid foundation for future development. The board has expressed confidence in Dewan's leadership to elevate TSS within the data center services market.