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Tel-Instrument Electronics Corp. furnished an update on its financial results for the fiscal year ended March 31, 2025. The company generated net sales of $9,296,392 and reported a net loss of $4,901,093, compared with net income of $341,891 in the prior year.
Gross margin fell to $2,002,715 as cost of sales rose sharply, while operating expenses increased to $4,348,977, driving an operating loss of $2,346,262. After income tax expense of $2,451,407 and preferred dividends, the net loss attributable to common shareholders was $5,278,773, or $(1.62) per share. Total assets declined to $6,144,427 and stockholders’ equity dropped to $1,987,761 as of March 31, 2025.
Tel-Instrument Electronics Corp. reported full-year net sales of $9.3 million for the year ended March 31, 2025, up from $8.8 million. Sales growth came from both commercial products and U.S. government avionics contracts, with government customers representing a large majority of revenue.
Despite higher sales, profitability deteriorated sharply. Gross margin fell to 22% from 46%, and the company posted a net loss of $4.9 million versus prior-year net income of $0.3 million. The swing was driven by higher CRAFT program costs, heavier engineering spending and a large tax expense from recording a full valuation allowance.
Cash was limited at $121,587 with a working capital surplus and an order backlog of about $8.3 million, but auditors highlighted “substantial doubt” about Tel-Instrument’s ability to continue as a going concern. Management is relying on Navy and NATO contracts, new SDR/OMNI test sets and potential capital raising to improve liquidity.