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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: Electronics Newsweekly
Publication Date: 26-AUG-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Tel Instrument Electronics Corp. (NYSE-AMEX: TIK) 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.

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