Commenting on corporate performance, Mr. Carl H. Guild, Jr., President
and Chief Executive Officer of
We have actively pursued expansion of our secure telephony product line
which features the CSD3324SE Secure Telephone. During the quarter,
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 quarters ended
Technical Communications Corporation
Condensed
Consolidated Income Statements
Quarter ended
(Unaudited)
Net sales $
1,133,000 $ 751,000
Gross profit 677,000
484,000
S, G & A expense 332,000 366,000
Product development costs 250,000 188,000
Operating income (loss) 95,000 (70,000)
Net income (loss) $ 114,000 $ (60,000)
Net income (loss) per share:
Basic $ 0.08 $ ( 0.04)
Diluted $ 0.07 $
( 0.04)
Nine months ended
(Unaudited)
Net sales $ 3,052,000 $ 2,493,000
Gross profit 1,808,000
1,535,000
S, G & A expense 1,198,000 1,207,000
Product development costs 797,000 743,000
Operating loss (187,000) (415,000)
Net loss $ (149,000) $ (379,000)
Net loss per share:
Basic $
( 0.11) $
( 0.28)
Diluted $
( 0.11) $
( 0.28)
Condensed Consolidated Balance Sheets
(Unaudited)
Cash $ 1,805,000 $ 1,199,000
Accounts receivable, net 566,000 973,000
Inventory 1,305,000 1,448,000
Other current assets 99,000 83,000
Total current assets 3,775,000 3,703,000
Property and equipment, net 86,000 99,000
Total assets $ 3,861,000 $ 3,802,000
Accounts payable $ 149,000 $ 104,000
Accrued expenses and
other
current liabilities 536,000 382,000
Total current liabilities 685,000 486,000
Total stockholders’ equity 3,176,000 3,316,000
Total liabilities and stockholders’ equity $ 3,861,000 $ 3,802,000