Tel-Instrument Electronics Corp (“Tel”, “Tel-Instrument” or the
“Company”) (NYSE MKT:TIK) today reported unaudited revenues of $6.44
million for the fiscal fourth quarter ending March 31, 2015. This
represents record revenues for Tel and is a 43% increase from the year
ago period. Unaudited annual revenues increased to $18.2 million, a 15%
increase from year ago levels.
Jeff O’Hara, Tel’s President and CEO, stated, “This continues the steady
momentum we have achieved during this fiscal year with revenues
increasing sequentially each quarter. This substantial revenue increase
is expected to result in solid bottom line profitability for the
quarter. The Company will provide revenue guidance on the first fiscal
quarter in the early May timeframe when more information on the timing
of the U.S. Army TS-4530A SET production release is expected to be
available.”
Tel expects to announce its full fiscal year results by June 30, 2015.
About Tel-Instrument Electronics Corp
Tel-Instrument is a leading designer and manufacturer of avionics test
and measurement solutions for the global commercial air transport,
general aviation, and government/military aerospace and defense markets.
Tel-Instrument provides instruments to test, measure, calibrate, and
repair a wide range of airborne navigation and communication equipment.
For further information please visit our website at www.telinstrument.com.
This press release includes statements that are not historical in
nature and may be characterized as “forward-looking statements,”
including those related to future financial and operating results,
benefits, and synergies of the combined companies, statements concerning
the Company’s outlook, pricing trends, and forces within the industry,
the completion dates of capital projects, expected sales growth, cost
reduction strategies, and their results, long-term goals of the Company
and other statements of expectations, beliefs, future plans and
strategies, anticipated events or trends, and similar expressions
concerning matters that are not historical facts. All predictions as to
future results contain a measure of uncertainty and, accordingly, actual
results could differ materially. Among the factors which could
cause a difference are: changes in the general economy; changes
in demand for the Company’s products or in the cost and availability of
its raw materials; the actions of its competitors; the success of our
customers; technological change; changes in employee relations;
government regulations; litigation, including its inherent uncertainty;
difficulties in plant operations and materials; transportation,
environmental matters; and other unforeseen circumstances. A
number of these factors are discussed in the Company’s previous filings
with the U.S. Securities and Exchange Commission. The Company disclaims
any intention or obligation to update any forward-looking statements as
a result of developments occurring after the date of this press release.
The safe harbor for forward-looking statements contained in the
Securities Litigation Reform Act of 1995 (the “Act”) protects companies
from liability for their forward-looking statements if they comply with
the requirements of the Act.
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