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

TESSCO Announces Record Revenue Of $226 Million And Record EPS Of $0.59 For Third Quarter

Stocks in this article: TESS

TESSCO Technologies Incorporated (NASDAQ:TESS), a leading provider to the wireless communication industry, today reported revenues of $226.3 million and net income of $4.8 million, or $0.59 per diluted share, for the third fiscal quarter ended December 25, 2011.

Chairman and CEO Robert Barnhill commented, “It was a great quarter, resulting in record revenues and earnings! Sales in our Retail segment surged 67 percent as our customers, including Tier 1 carrier customers, responded to consumers’ continued quest to equip their cell phones with new cases, chargers and head sets. Our Commercial segment continued to contribute strongly to our results as we supported the construction and maintenance of our customers’ wireless systems. We continued to deliver exceptional value to all our customers with growing profitability; operating profit margin reached 3.5 percent, a 35 percent increase compared to last year’s quarter.

“Fiscal year 2012 is indeed proving to be a remarkable year for TESSCO as we successfully leverage the many opportunities arising from the convergence of wireless and the internet, broaden our addressable market, and build profitability and productivity.

"Going forward, we expect continued explosion of smart mobility devices, the accelerated expansion and enhancement of the carrier networks to support the devices' insatiable demand for bandwidth, and the creation of new private wireless systems to transform the way we live, work and play. TESSCO is there, leveraging these trends and delivering the immediate, reliable availability of the product plus value chain solutions needed, at the lowest total cost. We continue our goal of driving shareowner value with intense focus on the success of our customers, manufacturers and team members."

Third-Quarter Fiscal 2012 Financial Results

For its fiscal 2012 third quarter, TESSCO’s revenue grew by 35 percent compared to last year’s third quarter and reached $226.3 million, while its gross profit grew by 17 percent and reached $39.5 million. The Company’s operating margin improved to 3.5 percent compared to 2.6 percent in last year’s third quarter.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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