Tel-Instrument Electronics Corp. Reports Selection of the SDR-OMNI Test Set by AIRBUS

Rhea-AI Summary

Tel-Instrument Electronics Corp. (TIKK) announced the receipt of an initial order for their new SDR-OMNI flight-line test set from their European distributor, Muirhead. This product will be used by Airbus in their global manufacturing operations. The SDR-OMNI, which consolidates multiple test functions into a single unit, was selected after a year-long competitive analysis by Airbus, citing its ease of use and speed. The product is also approved by Boeing and pending addition to its vendor list. Tel-Instrument plans to introduce a GPS simulator app for the SDR-OMNI this summer, potentially offering customers significant savings in life cycle support and training costs.

Positive

• Initial order received from Muirhead for Airbus use.
• SDR-OMNI selected after a year-long competitive analysis by Airbus.
• Ease of use and speed were major factors in Airbus's decision.
• Potential for significant savings in life cycle support and training costs.
• Approval by Boeing, pending addition to Boeing's vendor list.
• Introduction of a GPS simulator app for SDR-OMNI this summer.

Negative

• Initial order quantity and financial terms not disclosed.
• No specific timeline provided for Boeing's vendor list addition.
• Potential risks if GPS simulator app introduction is delayed.

EAST RUTHERFORD, N.J.--(BUSINESS WIRE)-- Tel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, reported the receipt of an initial order from Muirhead, our European distributer, for the new “all-in-one” SDR-OMNI flight-line test set. These units will be sold to Airbus for use in their world-wide manufacturing operations.

SDR-OMNI (Photo: Business Wire)

Mr. Jeffrey O’Hara, Tel-Instrument’s President and CEO commented: “Airbus has spent the last year conducting an in-depth competitive analysis of our new SDR-OMNI test set. We are thrilled that they have selected the SDR-OMNI for use in their worldwide manufacturing operations. The SDR-OMNI will replace several obsolete test sets currently in use. Airbus cited ease of use and test set speed as major factors in their decision. This validates the significant investment TIC has made in this market-leading test set. The SDR-OMNI has also been approved by Boeing and we are in the process of getting it added to their approved vendor list. We are also introducing a GPS simulator app for this test set which will be available this summer. This new multi-purpose test set will allow our customers to replace up to five single-purpose test sets which will generate significant savings in life cycle support and training costs.”

About Tel-Instrument Electronics Corp.

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com.

This press release includes statements that are not historical in nature and may be characterized as “forward-looking statements,” including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company’s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company’s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company’s previous filings with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the “Act”) protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612264099/en/

Pauline Romeo

Tel-Instrument Electronics Corp.

(201) 933-1600 (Ext 309)

Source: Tel-Instrument Electronics Corp.

FAQ

What is the significance of Airbus selecting the SDR-OMNI test set?

Airbus's selection of the SDR-OMNI test set, after a competitive analysis, emphasizes its ease of use and speed, validating TIC's significant investment in this product.

How will the SDR-OMNI test set benefit Airbus?

The SDR-OMNI test set will replace several obsolete test sets, offering ease of use, faster operations, and potential savings in life cycle support and training costs.

What are the financial implications for Tel-Instrument (TIKK) from this order?

While the initial order from Muirhead for Airbus is a positive development, specific financial details such as the order quantity and terms have not been disclosed.

When will the GPS simulator app for SDR-OMNI be available?

Tel-Instrument plans to introduce the GPS simulator app for the SDR-OMNI test set in the summer.

Is the SDR-OMNI test set approved by other major manufacturers?

Yes, the SDR-OMNI test set is approved by Boeing and is in the process of being added to Boeing's approved vendor list.