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TeleCommunication Systems CEO Discusses Q2 Results - Earnings Call Transcript

Stocks in this article: TSYS

Also, during this call, we may refer to measures of income that are not computed in accordance with generally accepted accounting principles. To the extent we refer to non-GAAP data, we have provided a reconciliation in our press release and on our website. Maurice?

Maurice Tose

Thank you, Bruce. Our second quarter 2012 earnings release was issued about 4:15 today, and a full text copy of our press release has been distributed via e-mail and is also available on our website.

We are pleased to report growth in second quarter revenue driven by total comp solutions for federal government customers and commercial 9-1-1 services for network operators and state and local governments.

We continue to see increasing federal needs for our C4ISR secure communication solutions and skilled field support for continuous mission-critical service. Our government business has a robust pipeline of high value contract opportunities, of which several award notices are expected in the second half of this year.

As I indicated in our press release, TCS is now a company with depth of expert technical resources for secure, highly reliable wireless communication. We have nearly 500 SATCOM and network security professionals and about 400 cellular infrastructure and application engineers and specialist, and more than 200 personnel engaged in the network technology that enables public safety communications. These are scarce and valuable resources for enabling secure and reliable communications for government and enterprise. An example is the emerging opportunity into many facets of secure cellular and the efforts of these engineers are expanding our proprietary intellectual property.

On July 6 th, we announced the acquisition of microDATA GIS, a leading next-generation 9-1-1, or next-gen provider. We believe that state and local governments are in the early innings of upgrading their existing 9-1-1 systems from circuit switch to IP-based networks, internet protocol-based networks.

The SEC has predicted total non-recurring next-gen spending of $1.2 billion over 10 years, and an additional $1.5 billion for in fact recurring connectivity posting in operation and maintenance expenses. microDATA's next-gen 9-1-1 roadmap compliments TCS. In addition to complementing TCS's emergency services, internet protocol network or ESInet products, microDATA brings TCS products for customer premise equipment, or CPE, which includes computer aided dispatch integration dashboards, call management products and call handling software and geographic information systems software. Together with TCS's technology, scale and leadership serving the public safety community, we expect to be a formidable competitor in the rapidly growing next-gen 9-1-1 market.

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