Home | Business News | Browse by Publication | B | Business Wire

Tel-Instrument Electronics Corp Announces First Quarter Results for Fiscal Year 2010 and Receipt of AIMS certification for its AN/USM-719 Mode 5 Test Set and the Receipt of a $6 Million Delivery Order from the U.S. Army.

Publication: Business Wire
Publication Date: 12-AUG-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
CARLSTADT, N.J. -- Tel Instrument Electronics Corp. (NYSE-AMEX: TIK) today announced its results of operations for the first quarter of fiscal year 2010 which ended on June 30, 2009. The Company recorded an after-tax loss of $409,000 on revenues of $2.3 million. The operating loss was due to a sharp contraction in commercial and military sales, continued heavy engineering expenditures for the AN/USM-708 and TS-4530A programs and high legal and professional fees due to the Aeroflex GAO protest and subsequent civil litigation related to the TS-4530A award from the Army.

On July 28, 2009, Tel was notified by the AIMS Program Office that its AN/USM-719 Mode 5 test set has been officially certified for Mode 5 system integration purposes. This is a major accomplishment as this...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Business Wire
ACLJ: Let Americans Exercise Free Speech without Fear of Retribution o..., August 12, 2009
Research and Markets: Polystyrene Foam Product Manufacturing Industry ..., August 12, 2009
Data Projections Offers Extended Warranty on Select Projectors as a Sa..., August 12, 2009
Mind Gamz Brings Therapy to the iPhone[TM] with the Game Think Like a ..., August 12, 2009
Insituform Awarded US$27.0 Million Contract to Repair Wastewater and S..., August 12, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.