Tel-instrument Electronics Corp (TIK) Reports Q1 Loss of $0.12 on Revenues of $3.5M

Tel-instrument Electronics Corp (NYSE: TIK) reported Q1 EPS of ($0.12). Revenue for the quarter came in at $3.5 million.

Financial Results for First Quarter of Fiscal Year 2018

• Revenues decreased to $3.5 million from $5.3 million in the first quarter of 2017.
• Gross profit decreased to $1.2 million from $1.9 million in the first quarter of 2017.
• Operating expenses decreased 8% to $706k as compared to $768k in the first quarter last year.
• Litigation expenses increased to $383k, as compared to $144k in the first quarter of the prior fiscal year.
• Engineering, research and development expenses increased 5% to $615k or 17% of revenues.
• Operating loss was $463k compared to operating income of $380k in the first quarter of 2017.
• Net loss was $286k versus net income of $410k in the first quarter of fiscal year 2017.

For earnings history and earnings-related data on Tel-instrument Electronics Corp (TIK) click here.

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