Tel-Instrument Electronics Corp
3.8500+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · TIKK · USD
Key Stats
Market Cap
12.54MP/E (TTM)
-Basic EPS (TTM)
-0.38Dividend Yield
0%Recent Filings
8-K
Auditor switch completed
Tel-Instrument Electronics Corp. switched auditors on April 29, 2025, after Marcum LLP resigned due to CBIZ CPAs P.C. acquiring its attest business on November 1, 2024; the Audit Committee promptly approved the engagement of CBIZ. Marcum's prior reports were clean, with no disagreements or reportable events beyond previously disclosed material weaknesses in inventory valuation controls. This routine transition ensures continuity. No disruptions expected.
8-K
Q3 revenues rise, but losses mount
Tel-Instrument Electronics Corp. reported Q3 FY2025 revenues of $2.97 million, up from $2.4 million last year, but swung to a $456K net loss due to squeezed 21% gross margins from elevated CRAFT program costs and a 68% jump in operating expenses. Backlog swelled to $8.4 million, fueled by $900K in new SDR-OMNI/MIL orders. CRAFT testing wrapped successfully; certification looms in March. Margins will rebound in full production.
10-Q
Q3 FY2025 results
Tel-Instrument Electronics posted Q3 FY2025 revenue of $3.0M, up 24% y/y from $2.4M, driven by government sales hitting $2.2M while commercial grew to $0.7M; yet gross margin slipped to 21% from 40%, squeezed by higher CRAFT component costs and a $260K Navy CRAFT ECP true-up as engineering hours exceeded projections. Operating loss widened to $575K from $247K income, fueled by 98% higher R&D at $608K and 45% more SG&A at $601K, mainly from new SDR-OMNI salespeople. YTD revenue rose 11% to $7.6M with gross margin at 21% versus 38%, yielding a $1.5M operating loss and $(0.46) diluted EPS on 3.26M shares—anti-dilution from preferred stock excluded. Cash dipped to $193K amid $370K operating outflow, offset by $310K line-of-credit draw to $1.0M total (8.55% rate, matures July 2025) plus $121K CEO notes; $8.4M backlog signals rebound. Backlog builds steadily. Inventory controls pose risks.
8-K
Q2 loss widens amid parts woes
Tel-Instrument Electronics Corp. reported a $815K net loss ($0.28 per share) for Q2 FY2025 ended September 30, 2024, on $1.8M revenues, up from $1.6M last year but with gross margins slipping to 12% from 23% due to parts delays and overruns on CRAFT engineering. Bookings backlog hit $7.9M, boosted by Airbus and Boeing SDR-OMNI orders, a $1.55M MADL F-35 contract, and initial U.S. DOD wins. Backlog now tops $9M. CEO eyes revenue surge to $5M annually from full CRAFT production, while parts influx promises Q3/Q4 profitability rebound.
10-Q
Q2 FY2025 results
Tel-Instrument Electronics posted Q2 FY2025 net sales of $1.8M, up 14% y/y but down q/q from Q1's $2.8M (derived), with gross margin slipping to 12% from 23% y/y amid component delays for CRAFT and SDR-OMNI products that crimped volumes. YTD sales rose 4% y/y to $4.6M, yet gross margin fell to 21% from 37%, driven by higher engineering costs on the nearing Navy CRAFT ECP contract; operating loss widened to $1.0M from $0.5M y/y, while net loss hit $0.8M versus $0.4M, the gap to operating loss under 20% with no major attributions beyond interest. Diluted EPS of -$0.28 aligns with 3.3M shares and anti-dilution from convertibles. Cash edged to $0.2M on $0.3M operating outflow, offset by $0.4M financing including $1.0M line of credit (9.55% rate, $35K available, matures July 2025) and $0.1M related-party notes at 16%; $7.9M backlog signals rebound. Backlog builds steadily. Supply chain snags persist.
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