Technical Communications Corporation (TCCO.OB) has announced fiscal results for the fiscal quarter and year that ended September 29, 2007. During the quarter that ended September 29, 2007, the Company reported net income of $543,000, or $0.39 per share. Revenue for this period also increased to a total of $1,751,000 from the value of $845,000 that was reported during the third quarter ended September 30, 2006.
Technical Communications also reported revenue of $4,920,000 and net income of $846,000, or $0.62 per share. When compared to the revenue of $3,897,000 and a net loss of ($94,000), or ($0.07) per share, for fiscal 2006, this represents a significant increase in corporate strength. Because the company recognized the provisions of the SFAS No.123R act, an act that recognizes disclosing stock-based compensation, the company reported a non-cash expense of $100,000, or $0.07 per share for stock-based compensation.
Carl H. Guild, Jr., President and Chief Executive Officer of TCC said, “Revenues in the fourth fiscal quarter improved substantially, driven by significant shipments of TCC’s DSP9000 radio encryptors to South America and Southwest Asia .In South America, TCC continues to expand upon its installed base with a 50 system DSP9000 shipment to a major user who is increasing its air-to-ground secure communications deployment. The DSP9000 system is unique in that it creates an end-to-end secure voice network between vehicle, man-pack, aircraft, ship and commanders’ offices using a wide variety of radios. We believe the DSP9000 Radio Encryptor System is ideally suited for emerging border control deployments being planned in South America and elsewhere. TCC continues an intensified marketing effort of both its radio and wireless products to the growing number of Central and South American countries that are investing in secure communications.”
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