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TheStreet Open House

Technical Communications Corporation Reports Results For The Fiscal Year And Quarter Ended September 29, 2012 And Announces A Dividend Of $0.10 Per Share

As noted, revenues in fiscal 2012 were $8,117,000 with a net loss of $841,000 or $0.46 per share. The fiscal 2012 results are largely due to the continuing slowdown in sales of our encryption products for foreign military networks, partially offset by strong sales for radio applications. TCC's backlog at the end of the year was $315,000 and was $1,773,000 as of December 7, 2012.

In fiscal 2012, TCC delivered $5.7 million of its DSP 9000 universal radio encryption systems for use by both the coalition and indigenous forces in Afghanistan. TCC's DSP 9000 family of radio encryption products is a large success in many countries where the need for high quality, ruggedized encryption is required for secure communication over the HF, UHF and VHF radio bands. The DSP 9000 products have the very attractive feature of mating to a wide variety of radios, providing end-to-end security between differing regions, vehicles and forces that may be using radios produced by different manufacturers. We believe that the DSP 9000 system provides a universal encryption solution that is readily deployable, cost effective and adaptable to meet unique user requirements.

TCC also delivered $1.2 million of network encryptors to Raytheon Company for deployment in the Republic of China (Taiwan) with the Patriot Air Defense System in fiscal 2012. This equipment is from TCC's DSD 72A-SP product line of high performance encryptors used worldwide in tactical and strategic networks requiring strong encryption security and high reliability. The equipment delivered for Taiwan provides network encryption equipment for system expansion.

Finally, the Company sold a modest amount of its TCC CX series encryptors for use in private satellite communications systems during its 2012 fiscal year. These sales were made to multiple customers throughout the year and included sales of the Cipher X 7200 and 7201 systems in our secure network application product line.

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