TSS INC - TSSI STOCK NEWS

TSS, Inc. (TSSI) reported its financial results for Q4 and fiscal year 2022, revealing a Q4 revenue of $10.9 million, down from $14.6 million in Q4 2021. Reseller revenues also decreased to $7.6 million from $11.7 million. Despite a lower gross margin of 18%, up from 12% year-over-year, the company faced an operating loss of $723,000. The fiscal year saw revenue growth to $30.6 million, compared to $27.4 million in 2021, with a notable adjusted EBITDA increase to $2,243,000. Management attributes Q4 losses to one-time CEO transition costs but maintains a positive outlook for 2023, expecting profitable growth.

TSS, Inc. (TSSI) is set to report its fourth-quarter and fiscal 2022 financial results on April 3, 2023. A conference call will take place at 4:30 PM Eastern Time, where investors can participate via phone or access a live audio webcast on the company's investor relations website.

After the call, an audio replay will be available for four hours until May 3, 2023. TSS provides a suite of services for data centers and critical facilities, including system integration and IT procurement, emphasizing its role as a single-source solution for technology needs.

TSS, Inc. (TSSI) reported significant growth in its third-quarter results for 2022, achieving revenue of $8.1 million, up from $4.6 million in Q3 2021. Despite a decrease in gross margin to 34% from 42%, operating income rose to $871,000 compared to $228,000 last year. Net income also improved to $605,000, or $0.03 per share, from $123,000, or $0.01 per share. Year-to-date revenue reached $19.7 million, an increase from $12.8 million in 2021. The company appointed Darryll Dewan as President and CEO, expressing optimism for future growth and demand.