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Technical Communications Corporation Reports Results For The Fiscal Quarter Ended December 29, 2012

Stocks in this article: TCCO

 

Technical Communications Corporation
     
     
Condensed consolidated income statements    
     
  Quarter Ended
  (Unaudited)
  12/29/2012 12/24/2011
Net sales $ 1,597,000 $ 4,441,000
Gross profit 1,102,000 3,305,000
S, G & A expense 778,000 988,000
Product development costs 855,000 1,072,000
Operating (loss) income (532,000) 1,246,000
Income tax (benefit) expense (214,000) 317,000
Net (loss) income (310,000) 929,000
Net (loss) income per share:    
Basic $ (0.17) $ 0.51
Diluted $ (0.17) $ 0.50
     
     
Condensed consolidated balance sheets    
     
  12/29/2012 9/29/2012
  (Unaudited) (derived from audited financial statements)
Cash and marketable securities $ 6,627,000 $ 6,725,000
Accounts receivable, net 1,085,000 1,381,000
Inventory 2,442,000 2,633,000
Deferred & refundable income taxes 1,692,000 1,477,000
Other current assets  166,000  171,000
Total current assets 12,012,000 12,387,000
Property and equipment, net  415,000  453,000
Total assets $ 12,427,000 $ 12,840,000
     
Accounts payable 152,000 167,000
Accrued expenses and  other current liabilities    598,000    546,000
Total current liabilities 750,000 713,000
Total stockholders' equity  11,677,000  12,127,000
Total liabilities and stockholders' equity $ 12,427,000 $ 12,840,000
CONTACT: Michael P. Malone
         Chief Financial Officer
         (978) 287-5100
         www.tccsecure.com

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