(BSNS WIRE) Tel-Instrument Electronics Corp Announces Year End Results
Tel-Instrument Electronics Corp Announces Year End Results
Business & Technology Editors
CARLSTADT, N.J.--(BUSINESS WIRE)--June 28, 2001--Tel-Instrument
Electronics Corp today announced its financial results for the year
ended March 31, 2001:
Years Ended March 31,
2001 2000
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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.
--30--ck/ny*
CONTACT: Tel-Instrument Electronics Corp, New Jersey
Joseph P. Macaluso, 201/933-1600
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: AEROSPACE/DEFENSE COMPUTERS/ELECTRONICS
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