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Monday, December 13, 2010

TCCO Blow out Earnings as predicted

Press Release Source: Technical Communications Corporation On Monday December 13, 2010, 8:30 am
CONCORD, Mass., Dec. 13, 2010 (GLOBE NEWSWIRE) -- Technical Communications Corporation (Nasdaq:TCCO - News) today announced its results for the fiscal quarter and year ended September 25, 2010. For the year ended September 25, 2010, the Company reported net income of $7,868,000, or $4.68 per share, on revenue of $21,551,000, as compared to net income of $943,000, or $0.65 per share, on revenue of $7,752,000 for the year ended September 26, 2009. For the quarter ended September 25, 2010, the Company reported net income of $3,176,000, or $1.74 per share, on revenue of $6,861,000, as compared to net income of $235,000, or $0.16 per share, on revenue of $1,765,000 for the quarter ended September 26, 2009.

The Company also announced that on December 9, 2010, its Board of Directors declared a dividend of $0.10 per share of common stock outstanding in recognition of the positive financial performance of fiscal 2010. The dividend is payable in cash on December 27, 2010 to all shareholders of record on December 20, 2010.

Commenting on corporate performance, Carl H. Guild, Jr., President and Chief Executive Officer of TCC, said, "TCC had a record year in fiscal 2010, far surpassing any year in its 49 year history. The primary driver for our growth has been the need for encryption equipment to provide secure national communications in Afghanistan. TCC made substantial shipments on contracts supporting this endeavor through the fourth quarter of fiscal 2010. The fiscal 2010 contracts have been followed with additional orders in the first quarter of our 2011 fiscal year. It should be noted, however, that while the continued business in Afghanistan is encouraging, our revenue in fiscal 2011 is expected to return to the more modest levels achieved prior to 2010. Our backlog at September 25, 2010 remained strong at $3.4 million and increased to $6.8 million during the first quarter of fiscal 2011. The Company expects to deliver these orders during the remainder of our fiscal 2011 year.

Mr. Guild continued, "For fiscal 2011, TCC expects to maintain its increased investment in internal product development. We are evaluating several technical options for enhancing the DSP 9000 Radio Encryption product line, which may include cryptography modifications, hardware and software changes and partnering with radio manufacturers to incorporate imbedded solutions. The Company also continues to evolve the features of the DSP 9000 RF Encryption System and hopes to expand the market to new customers that can benefit from a universal security solution that can be applied to and interoperate with their existing radio communications suite of equipment."

In October 2010, TCC announced the introduction of the DSD 72B, a new family of high speed SONET/SDH encryptors capable of operating on electrical and fiber optic networks. These encryptors are designed to meet a wide range of stringent environmental and operational environments while providing the highest grade of encryption security. In conjunction with the DSD 72B, TCC has developed the Keynet Optical Manager (KOM)(TM), an advanced key generation and management system capable of single--point, over-the-network management of an entire encryption network. TCC expects that customer evaluations of the DSD 72B will begin in 2011.

Driven by current customer demand, TCC has also completed the development of a variant of its DSD72A-SP Bulk Encryptor, which will provide additional radio/switch interface compatibility. Finally, the Company also expects to expand its CX7000 family of IP and frame sensitive encryptors in 2011 and 2012 to provide additional features and higher speed solutions for enterprise networks and satellite communications systems requiring tailored operational and network characteristics.


Anonymous said...

Bought in $18s pre market today and just got stopped out in $14s. 20% loss in a few hours.

Superman said...

NOt that I believe you but if that is true I would ask why you chased in the $18's...I never would I bought in the $12's and said do not chase any stock

Anonymous said...

I just chased. I was planning to sell at $25 today. Just took out my stop instead. My fault.

Anonymous said...

Will buy today at the open for MITK type of huge bounce. Super picks do that always. All the wikileaks attacked institution will use TCCO's technology very soon. Order will come and their revenue will increase 5 fold from now. I will be rich like Superman too.

Anonymous said...

In again at $12.70 average today. I set the sell limit order for $20. MITK part II.

Anonymous said...

My sell limit order at $20 will be hit today. SUPER!!!

Anonymous said...

Added at $12.80. Doubled my position. Now it's 40% of my portfolio in TCCO. Sell limit at $20. Super picks always come back strong.

StocksOn.Blogspot said...

$NEI - Whats your take on this company? revenue is the same, seems like a fairly new IPO, just curious, a family member who knows absolutely nothing about stocks, invested in NEI...

Anonymous said...

I'm a bit disappointed that TCCO didn't hit my $20 sell limit order, but I'll wait for today. If it doesn't hit $20, I'll just sell it.

Anonymous said...

Sold all my TCCO. Not hitting $20. Getting out with 10% profit this time to cover losses before. Still in red on TCCO.

Inventory POS System said...

I like your article and it really gives an outstanding idea that is very helpful for all the people on web.

Beard Softener said...

I just chased. I was planning to sell at $25 today. Just took out my stop instead. My fault.

Share Tips said...

I really appreciate your post and you explain each and every point very well.Thanks for sharing this information.And I’ll love to read your next post too.
Share Tips

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