Boston, MA 05/13/2014 (wallstreetpr) – Technical Communications Corporation (NASDAQ:TCCO) has done it again; it has reported another quarterly loss but on a wider scale this time around. The mixed 1Q results showed revenue improvement amid expanded losses as the company grappled with delayed contracts, high costs and seemingly low demand for its communications solutions.
However, the management wants you to believe that, despite the 2Q setback, all is not lost as the company expects positive performance in the long-run, however, that long-run is not clearly defined, but at least it is not likely to be 2014.
According to CEO Carl H. Guild, Jr., the latest quarter was impacted by delays in some domestic and foreign contracts. The CEO went ahead to say that, in view of the delays and the production and customer requirements that the company faces, the remainder of 2014 is poised to experience negative revenue impact.
However, while challenges in the balance of 2014 are almost locked, the company believes that its progress in customer acquisition and cost reduction are capable of supporting revenue and profit growth in the long-run.
Having swung into a loss in the latest quarter, there are renewed efforts at Technical Communications Corporation (NASDAQ:TCCO) to significantly keep checks on costs and expenses with a view of enhancing savings to stabilize the balance sheet.
2Q at a glance
Technical Communications Corporation (NASDAQ:TCCO) reported a net loss of $1.47 million or 80 cents per share in the latest quarter. That compared with a net loss of $0.33 million or 18 cents per share in the same quarter a year earlier. Revenue in the latest quarter came in at $1.29 million, ahead of $0.55 million in the year earlier quarter.
The higher 2Q net loss was due to the impact of $821,000 linked to accumulated losses that prevailed over the past 10 quarters.
Comparing six months performance
In the six months period to March 29, 2014, Technical Communications Corporation (NASDAQ:TCCO) suffered a net loss of $1.28 million or 70 cents per share. Revenue in the period was $3.8 million. The figures compared with six months period to March 30, 2013 whereby the company suffered a net loss of $0.64 million or 35 cents per share. Revenue in the period was $2.14 million.
Technical Communications Corporation (NASDAQ:TCCO) provides superior and secure communications systems for government entities, corporate enterprises and defense agencies in about more than 115 countries around the world.
