Technical Communications Corp (NASDAQ:TCCO) issued its results for the quarter and fiscal year closed September 30, 2017. For the three-months closed September 30, 2017, the firm posted a net loss of $(518,000) on revenue of $1,125,000, versus a net loss of $(860,000) on revenue of $405,000 for the three-months closed October 1, 2016. For the fiscal year closed September 30, 2017, the firm posted a net loss of $(1.429) million on revenue of $4.209 million versus a net loss of $(2.472) million on revenue of $2.523 million for the year closed October 1, 2016.
Commenting on company’s performance, Carl H. Guild, Jr., the CEO and President of Technical Communications, reported that the company revenue came lower than projected due to delays on major global programs. Their radio encryption product line has led considerably to their 2017 sales with an order completion from Datron that is planned for use in Afghanistan. They project that additional orders will roll-in in support of ongoing U.S. government measures in Afghanistan however the timing is not decided.
Technical Communications continues to pursue the use of their radio encryption offerings to latest users needing voice communications security for joint land, sea and air operations. Their latest ‘HSE6000’ SEAL radio encryption system has positively completed consumer reviews and is taking part in field operational testing.
Network encryption offerings are being pursued with the advancement of a TCC platform that can be tailored to meet innovative client requirements. This work is yet in the advancement but is projected to reach the market in this year.
Technical Communications is dedicated to returning to profitability in FY2018. They continue to closely track and lower operating expenses as suitable, while strategically capitalizing in business development initiatives, expanding their sales channel network and developing productive relationships. For more than 50 years, the company has specialized in premium-grade secure communications systems and tailored solutions.