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TESSCO Technologies, Inc. (NASDAQ: TESS) is a prominent technology distributor, manufacturer, and solutions provider that has been catering to both commercial and retail customers in the wireless infrastructure and mobile device accessories markets for over 30 years. Established with a vision to deliver industry-leading products, expert knowledge, innovative solutions, and unparalleled customer service, TESSCO has become a cornerstone in the wireless industry.
TESSCO offers an extensive portfolio of more than 50,000 products sourced from over 400 of the most respected manufacturers in mobile communications, Wi-Fi, Internet of Things (IoT), wireless backhaul, and other related fields. This vast catalog includes everything from essential components to high-end equipment, ensuring that customers have access to the tools they need to succeed in a rapidly evolving technological landscape.
As a single-source provider, TESSCO excels in delivering a comprehensive customer experience. The company prides itself on its deep industry knowledge and its ability to offer complete end-to-end solutions, making it a preferred partner for businesses looking to implement or upgrade their wireless infrastructure. TESSCO’s commitment to innovation is evident in its ongoing projects and partnerships, which aim to push the boundaries of what’s possible in wireless technology.
Financially, TESSCO maintains a strong position, continually investing in its product offerings and expanding its market reach. The company’s recent achievements include significant advancements in IoT solutions and the development of new partnerships that enhance its capabilities and service offerings.
For investors and stakeholders, TESSCO represents a solid investment opportunity, supported by a robust product lineup, a proven track record of success, and a forward-thinking approach to technology and customer service. Stay updated with the latest developments and financial news about TESSCO Technologies Incorporated to make informed decisions about your investments.
TESSCO Technologies reported a 7% year-over-year revenue increase to $112.2 million for Q1 FY 2023, with record bookings of $137.3 million and a backlog rise of 32% sequentially to $99.1 million. The company posted a net loss of $0.5 million, improving significantly from a $2.2 million loss in Q1 FY 2022. Adjusted EBITDA was $0.5 million, compared to a $1.1 million loss last year. TESSCO reaffirms its FY 2023 guidance, projecting revenues between $450 million and $475 million.
TESSCO Technologies (NASDAQ: TESS) will release its fiscal first-quarter financial results for the period ending June 26, 2022, on July 26, 2022, after market close. A conference call is scheduled for July 27, 2022, at 8:30 a.m. ET. Investors can participate by calling 888-210-2975 domestically or 646-960-0497 internationally. The call will also be webcast live on the company’s website, with an archived version available for one year. TESSCO continues to serve the wireless infrastructure ecosystem with comprehensive solutions.
TESSCO Technologies reported FY2022 results, meeting or exceeding revenue, EBITDA, and net loss targets. Revenue rose 11.8% year-over-year to $417.5 million, with fourth-quarter revenues at $101.6 million, a 14.5% increase. Full-year sales bookings grew 21%, with a record backlog of $75 million, up $41 million. Despite a slight net loss of $1 million in Q4, net loss for the year dropped significantly to $3.3 million from $14.4 million in FY2021. The company projects FY2023 revenue growth of 11% and expects adjusted EBITDA between $4 million and $7 million.
TESSCO Technologies (NASDAQ: TESS) will report its fiscal fourth quarter results for the period ending March 27, 2022, after market close on May 10, 2022. A conference call to discuss the results is scheduled for May 11, 2022, at 8:30 a.m. ET, with call-in numbers provided for domestic and international participants. TESSCO, a leading distributor in the wireless industry, emphasizes its commitment to delivering top-tier products and solutions to commercial customers across various sectors, including mobile communications and IoT.
KVH Industries announces the retirement of long-serving President and CEO Martin Kits van Heyningen after over 40 years with the company. He will be succeeded by Brent Bruun, the current COO, as Interim CEO while a search for a permanent replacement is underway. Cathy-Ann Martine-Dolecki has been appointed as the new independent Chairman. The company emphasizes its focus on achieving sustained profitability and cost discipline, responding to challenges in leadership transition and operational strategies.
TESSCO Technologies reported a third-quarter net income of $1.2 million, with revenues of $102.5 million, marking a 3% increase year-over-year. The company achieved an Adjusted EBITDA of $1.0 million, its first positive EBITDA since fiscal 2020. Sales order bookings grew by 7%, contributing to a record backlog of $68 million. Despite ongoing supply chain issues, gross profit rose by 13%. However, TESSCO has revised its annual revenue guidance to $408M - $425M, lower than previously projected.
TESSCO Technologies Incorporated (NASDAQ: TESS) will announce its fiscal third-quarter financial results for the period ending December 26, 2021, on February 3, 2022, after market close. A conference call for discussion of these results is scheduled for the following day, February 4, at 8:30 a.m. ET. TESSCO is a value-added distributor in the wireless industry, serving commercial customers with a focus on technology and customer service.
Tessco Technologies (NASDAQ: TESS) has launched a Device Lifecycle Management platform aimed at enhancing remote monitoring and management of devices across various networks. This customizable platform enables channel customers to monetize device management services, offering extended warranties and SLAs. The initial device library includes BDAs from top manufacturers like Comba and Westell, supporting public safety deployments. Additionally, Tessco has partnered with Communications Electronics to integrate this platform into their DAS project offerings, aiming to improve operational efficiency and service capabilities.
TESSCO Technologies, a leading distributor in the wireless industry, will present at the Sidoti Virtual Microcap Conference on December 9, 2021, starting at 9:15 a.m. ET. The presentation will be led by President and CEO Sandip Mukerjee and CFO Aric Spitulnik, who will also engage in one-on-one meetings with investors. A webcast link for the presentation will be available on TESSCO's investor relations website, where an archive will be accessible for 90 days.
TESSCO Technologies reported a strong second-quarter FY 2022, with revenues of $108.5 million, up 22% year-over-year and overall bookings rising 38%. Carrier market revenues set a record while commercial revenues reached a seven-quarter high, despite supply chain disruptions. The net loss improved to $1.3 million from $2.9 million in the previous year, with adjusted EBITDA loss of $186,500. The company reaffirmed its full-year guidance, projecting revenues between $408 million and $442 million, and adjusted EBITDA up to $2.4 million.
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