TESSCO Technologies Incorporated (NASDAQ:TESS), a leading provider of the product and value chain solutions required to build, use and maintain wireless broadband systems, today announced that it will present at the Sidoti & Company Annual New York Micro-Cap Conference on January 7, 2013, and that it is being upgraded to the NASDAQ Global Select Market. The Company also provided an update on its business outlook for its fiscal 2013 third quarter and the fiscal year.
Presentation at Sidoti & Company Conference
The company will present at the Sidoti & Company Annual New York Micro-Cap Conference on Monday, January 7, 2013. The conference will be held at the Grand Hyatt Hotel in New York City. TESSCO will present at 11:20 AM ET in Estate 5 (Julliard Room). The company will also meet one-on-one with institutional investors during the day.
To obtain additional information about TESSCO’s participation in the conference, please contact TESSCO’s investor relations representative, LHA.
NASDAQ Market Listing Upgrade
Effective January 3, 2013, TESSCO has been upgraded to the NASDAQ Global Select Market, the highest of the three segments of the NASDAQ Global Market. The NASDAQ Global Select Market reflects NASDAQ's highest financial listing standards, with measures including market value, liquidity and earnings.
TESSCO expects to report revenue in the range of $200 million to $210 million for the third fiscal quarter, which ended December 30, 2012. This third quarter revenue as compared to our prior year third quarter will reflect a 15-20% increase in our core markets and represents a 10% decrease in total revenue as a result of the ongoing transition out of our third party logistics business with a Tier 1 carrier. As previously announced, we expect to be completely transitioned out of the 3PL relationship with this Tier 1 carrier customer by the end of our fiscal year.