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Technology Stocks : TINE-TEL INSTRUMENT -- Ignore unavailable to you. Want to Upgrade?

To: GARY P GROBBEL who wrote (29)	6/28/2001 1:24:23 PM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 39

(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 ---- ---- 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 HARDWARE TRANSPORTATION Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *