This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Technical Communications Corporation Reports Results For The Second Fiscal Quarter Ended March 27, 2010

Technical Communications Corporation (OTC BB: TCCO.OB) today announced its results for the fiscal quarter ended March 27, 2010. For the second quarter of the Company’s 2010 fiscal year, the Company reported a net loss of $(87,000), or $(0.05) per share, on revenue of $3,576,000, as compared to net income of $225,000, or $0.16 per share, on revenue of $2,056,000 for the quarter ended March 28, 2009. For the six months ended March 27, 2010, the Company reported net income of $2,269,000, or $1.48 per share, on revenue of $8,340,000, as compared to net income of $431,000, or $0.30 per share, on revenue of $3,900,000 for the six months ended March 28, 2009.

Commenting on corporate performance, Carl H. Guild, Jr., President and Chief Executive Officer of TCC said, “We are pleased that our financial results continue to be positive. The second quarter resulted in an increase in revenue and operating income. There was however a net loss due to the need to record an income tax provision upon the expected utilitzation of our prior year NOL's based on a revised forecast for the fiscal year driven by recent orders. As previously reported, the Company recently received orders valued at approximately $9.7 million for a major expansion of its DSP 9000 RF Encryption System to be deployed in Afghanistan. Net income before income taxes was $923,000 for the quarter ended March 27, 2010 as compared to $225,000 for the quarter ended March 28, 2009.”

Mr. Guild continued, “These new orders have substantially increased our current backlog to $14.8 million. TCC anticipates making shipments on these contracts on an accelerated basis, primarily in fiscal 2010 and early 2011. This will result in record revenue levels for fiscal 2010. Upon completion of these deliveries, our revenue is expected to return to the more modest levels achieved during the recent past. The Company continues to expand its market for the DSP9000 RF Encryption System to new customers which can benefit from a universal security solution which can be applied to their existing radio communications suite of equipment.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,228.65 +37.28 0.22%
S&P 500 1,995.76 -6.40 -0.32%
NASDAQ 4,619.6020 -18.3920 -0.40%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs