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

Statements made in this press release, including any discussion of our anticipated operating results, financial condition and earnings, including statements about the Company's ability to achieve and sustain growth and profitability and expand product lines and market share, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, identified by the use of such terms as "anticipates," "believes," "expects," "may," "plans" and "estimates," among others, involve known and unknown risks. The Company's results may differ significantly from the results expressed or implied by such forward-looking statements. The Company's results may be affected by many factors, including but not limited to future changes in export laws or regulations, changes in technology, the effect of foreign political unrest, the ability to hire, retain and motivate technical, management and sales personnel, the risks associated with the technical feasibility and market acceptance of new products, changes in telecommunications protocols, the effects of changing costs, exchange rates and interest rates, and the Company's ability to secure adequate capital resources. These and other risks are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Quarterly Reports on Form 10-Q for the quarters ended June 23, 2012, March 24, 2012 and December 24, 2011 and its Annual Report on Form 10-K for the fiscal year ended September 24, 2011.

Technical Communications Corporation
Condensed consolidated income statements
  Quarter Ended (Unaudited)
  9/29/2012 9/24/2011
Net sales $ 1,326,000 $ 2,237,000
Gross profit 1,067,000 1,870,000
S, G & A expense 785,000 647,000
Product development costs 1,122,000 794,000
Operating income (loss) (840,000) 430,000
Income tax expense (benefit) (344,000) 175,000
Net income (loss) (489,000) 255,000
Net income (loss) per share:    
Basic $ (0.27) $ 0.14
Diluted $ (0.27) $ 0.14
  Year Ended
  9/29/2012 9/24/2011
  (unaudited) (derived from audited
    financial statements)
Net sales $ 8,117,000 $ 12,102,000
Gross profit 6,278,000 9,810,000
S, G & A expense 3,310,000 2,813,000
Product development costs 4,421,000 3,530,000
Operating income (loss) (1,453,000) 3,467,000
Income tax expense (benefit) (597,000) 1,200,000
Net income (loss) (841,000) 2,269,000
Net income (loss) per share:    
Basic $ (0.46) $ 1.24
Diluted $ (0.46) $ 1.21
Condensed consolidated balance sheets    
  9/29/2012 9/24/2011
  (unaudited) (derived from audited
    financial statements)
Cash and marketable securities $ 6,725,000 $ 9,232,000
Accounts receivable, net 1,381,000 867,000
Inventory 2,633,000 3,279,000
Deferred & refundable income taxes 1,477,000 849,000
Other current assets  171,000  139,000
Total current assets 12,387,000 14,366,000
Property and equipment, net  453,000  477,000
Total assets $ 12,840,000 $ 14,843,000
Accounts payable 167,000 313,000
Accrued expenses and other current liabilities    546,000  1,097,000
Total current liabilities 713,000 1,410,000
Total stockholders' equity  12,127,000  13,433,000
Total liabilities and stockholders' equity $ 12,840,000 $ 14,843,000
CONTACT: Michael P. Malone
         Chief Financial Officer
         (978) 287-5100

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