EAST RUTHERFORD, N.J.–( BUSINESS WIRE )–Tel-Instrument Electronics Corp. (“Tel”, or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported net income of $908k ($0.25 basic income per common share) on revenues of $4.7 million for the third quarter of fiscal year 2020 ending December 31, 2019.
Highlights include: Revenues increased 19% from last year’s third quarter and have reached $16 million over the last 12 months.
Gross margins remained solid at 46.7% due to manufacturing efficiencies, tight cost controls, and product mix. Quarterly operating expenses remained constant at $1.2 […]
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