Tessco Technologies (TESS) Reports Q1 EPS of $0.01

Tessco Technologies (NASDAQ: TESS) reported Q1 EPS of $0.01, versus ($0.24) reported last year. Revenue for the quarter came in at $128.9 million versus the consensus estimate of $116.49 million.

“We delivered sequential improvement in revenue and earnings and maintained a strong balance sheet, despite a continued difficult environment,” said Robert Barnhill, Founder, Chairman and CEO. “While not yet reflected in the financial results, we are making progress evolving from a wireless public carrier-, transaction-centric product supplier, to a consultative provider of the end-to-end wireless solutions to deploy network and connectivity systems for private, as well as public, organizations.

“In addition to driving our transformations, the search for a new CEO is progressing well. We have met with a host of outstanding candidates and expect to name a new CEO this fiscal year.

“Going forward, we are aggressively transforming what we sell, and how we sell and do business digitally,” Barnhill said. “All of us at TESSCO are confident that we will regain our revenue and profit growth and improve shareowner value.”

For earnings history and earnings-related data on Tessco Technologies (TESS) click here.

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