like i've been saying (GGG):
(COMTEX) B: Tel-Instrument Electronics Corp Announces Year End Result
B: Tel-Instrument Electronics Corp Announces Year End Results
CARLSTADT, N.J., Jun 28, 2001 (BUSINESS WIRE) -- Tel-Instrument Electronics
Corp today announced its financial results for the year ended March 31, 2001:
Years Ended March 31,
2001 2000
---- ---- Sales $ 7,508,901 5,130,782 Net Income Before Taxes 1,039,117 358,958
Benefit From Income Taxes 295,888 241,595 Net Income $ 1,335,005 600,553 Net
Income Per Share, Diluted $ 0.63 0.28 Weighted Average Shares
Outstanding, Diluted 2,117,686 2,146,402
For the year ended March 31, 2001 total sales increased 46% to $7,508,901 as
compared to the previous fiscal year. Net income before taxes increased 189% to
$1,039,117 in fiscal year 2001 from $358,958 for fiscal year 2000.
During fiscal year 2001, the Company began shipments of the AN/APM 480 IFF
(Identification, Friend or Foe) Transponder Test Sets to the U.S. Navy, and this
unit has been favorably received by the customer. The AN/APM 480 is a
militarized avionics ramp tester used to simulate IFF Transponder/Interrogator
and TCAS (Traffic and Collision Alert System) functions to provide accurate go,
no-go testing of avionics test equipment installed in military aircraft on the
flightline and aircraft carrier deck.
The Company also began shipment to a major freight carrier (through a domestic
distributor) of T-30D ILS (Instrument Landing System) and T-49C TCAS commercial
test sets and also shipped all of the T-76 DME/P (Precision Distance Measuring
Equipment) Ramp Test Sets under the contract with Marconi Communications through
our Italian Intermediary.
Management is very positive about the future based on its current backlog, new
products in development, and the encouraging response to our marketing
activities. The Company continues to pursue opportunities, in both the
commercial and government markets, and new product development efforts based
upon its evaluation of these markets. The Company is also exploring
opportunities in non-avionic government and commercial markets in order to
broaden the Company's product line.
Tel-Instrument is a leading designer and manufacturer of avionics test equipment
for the general aviation, commercial aviation, and government/military markets,
both domestically and internationally. Tel-Instrument provides instruments to
test a wide range of avionic navigation and communication equipment. For further
information please visit our website at www.telinstrument.com.
The Company's stock is traded in the NASDAQ System under the symbol TINE.
CONTACT: Tel-Instrument Electronics Corp, New Jersey
Joseph P. Macaluso, 201/933-1600
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KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: AEROSPACE/DEFENSE
COMPUTERS/ELECTRONICS
HARDWARE
TRANSPORTATION
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