On Dec. 09, 2019, Technical Communications Corporation (NASDAQCM:TCCO) released its results for the fiscal year and quarter ended September 28, 2019. For the quarter ended September 28, 2019, the Company reported net income of $1,032,000, or $0.56 per share, on revenue of $2,749,000, compared to a net loss of $(259,000), or $(0.14) per share, on revenue of $1,137,000 for the quarter ended September 29, 2018. For the year ended September 28, 2019, the Company reported net income of $631,000, or $0.34 per share, on revenue of $7,024,000, compared to a net loss of $(1,480,000), or $(0.80) per share, on revenue of $3,685,000 for the year ended September 29, 2018.
Commenting on corporate performance, Carl H. Guild, Jr., President and Chief Executive Officer of TCC, said, The Company experienced a return to profitability in fiscal year 2019. The Company completed delivery of several foreign and domestic contracts for its DSP 9000/HSE 6000 radio encryption products. It also provided significant engineering services under contracts that were completed in fiscal 2019.
Offering high-end custom cryptographic services and solutions is an established market niche for the Company and we believe an important competitive differentiator. In fiscal 2019, custom TCC equipment and services continued to provide recurring revenue opportunities within the Company’s established government systems product line; such equipment sales consisted primarily of our DSP 9000/HSE 6000 radio encryption and digital encryption CX7211 products, along with custom solution engineering services.
About Technical Communications Corporation
For over 50 years, TCC has specialized in superior-grade secure communications systems and customized solutions, supporting our CipherONE® best-in-class criteria, to protect highly sensitive voice, data and video transmitted over a wide range of networks. Government entities, military agencies and corporate enterprises in 115 countries have selected TCC’s proven security to protect their communications.
On Friday, Technical Communications Corporation (NASDAQCM:TCCO) traded with change of -9.35% on volume of 2001505 shares in the last session as compared to average volume of 1176131 shares. During last trade its minimum price was $6 and it gained highest price of $7.55. TCCO has total market capitalization of $11118500. Its closing value stands at $6.01.
Sam Leventhal is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 10 years of investment experience, an M.B.A. from Louisiana State University, and is also certified in Risk Management Assurance. Sam is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Technology News category for our site.
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Address: 1894 MacLaren Street, Ottawa, Ontario
Zip Code: K1P 5M7
Phone Number: 613-785-7363