Commenting on corporate performance, Mr. Carl H. Guild, Jr., President
and Chief Executive Officer of
“Of significance to our secure telephone business was the delivery of
CSD3324SE Secure Telephones to an Asian customer for use in their defense
ministry. This sale further expands our business with this country and builds
upon our successful deployments in their other ministries. During fiscal 2006,
customized versions of the telephone’s features and operation will be developed,
which will meet specific customer requirements. These efforts will cause
further increases in the internal product development expense, which we expect
to return value to
Continuing, Mr. Guild said, “HF radio encryption sales, using
the DSP9000 family of products, remains strong with a major delivery of
encryptors being made to
About Technical Communications Corporation
Statements made in this press release,
including any discussion of our anticipated operating results, financial
condition and earnings, including statements about the Company’s ability to
achieve and sustain growth and profitability, contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements, identified by the use of such terms as
“anticipates,” “believes,” “expects,” “may,” “plans” and “estimates,” among
others, involve known and unknown risks. The Company’s results may differ
significantly from the results expressed or implied by such forward-looking
statements. The Company’s results
may be affected by many factors, including but not limited to future changes in
export laws or regulations, changes in technology, the effect of foreign
political unrest, the ability to hire, retain and motivate technical,
management and sales personnel, the risks associated with the technical
feasibility and market acceptance of new products, changes in telecommunications
protocols, the effects of changing costs, exchange rates and interest rates,
and the Company's ability to secure adequate capital resources. These and other
risks are detailed from time to time in the Company’s filings with the Securities
and Exchange Commission, including the Company’s Quarterly Reports on Form
10-QSB for the fiscal quarter ended
Technical Communications Corporation
Condensed
consolidated income statements
Quarter ended
Net sales $ 914,000 $ 1,187,000
Gross profit 542,000
813,000
S, G & A expense 440,000 455,000
Product development costs 213,000 249,000
Operating (loss) income (111,000) 109,000
Net (loss) income $
(104,000) $ 118,000
Net (loss) income per share:
Basic $
( 0.08) $ 0.09
Diluted $
( 0.08) $ 0.07
Condensed consolidated balance sheets
Cash $ 743,000 $ 1,199,000
Accounts receivable, net 1,369,000 973,000
Inventory 1,300,000 1,448,000
Other current assets 82,000 83,000
Total current assets 3,494,000 3,703,000
Property and equipment, net 93,000 99,000
Total assets $ 3,587,000 $ 3,802,000
Accounts payable $ 74,000 $ 104,000
Accrued expenses and
other
current liabilities 300,000 382,000
Total current liabilities 374,000 486,000
Total stockholders’ equity 3,213,000 3,316,000
Total liabilities and stockholders’ equity $ 3,587,000 $ 3,802,000