Market Overview

Tel-Instrument Electronics Corp. Announces $615,000 International Order for the T-47/M5 Mode 5 Test Set

Share:

Tel-Instrument Electronics Corp. ("Tel", "Tel-Instrument" or the
"Company") (NYSE:TIK), a leading designer and manufacturer of
avionics test and measurement solutions, today reported the receipt of a
$615,000 order for the T-47/M5 Mode 5 test set from a major military
customer in the Asia-Pacific region. This order will be shipped in the
third quarter of our next fiscal year.

Jeff O'Hara, Tel's President and CEO said, "We are pleased to report the
receipt of a $615,000 follow-on order from the Asia-Pacific region for
our T-47/M5 integrated dual crypto Mode 5 test set. This brings the
cumulative T-47/M5 orders from this customer to over $1 million. This
customer had been waiting for AIMS certification before releasing this
follow-on order. The T-47/M5 Mode 5 test set has been sold to eight
different countries thus far, and we believe this test set will be the
test set of choice for many international customers due to its dual
crypto capability, and ability to perform detailed Mode 5 platform
integration testing. The U.S. Army has begun purchasing these test sets
for their Mode 5 platform integration testing. These most recent orders,
and other pending contracts, continue to strengthen our position as the
world-wide leader for Mode 5 flight-line test equipment. The Company
anticipates continued revenue growth and a return to solid profitability
starting in the current fiscal quarter."

About Tel-Instrument Electronics Corp.

Tel-Instrument is a leading designer and manufacturer of avionics test
and measurement solutions for the global commercial air transport,
general aviation, and government/military aerospace and defense markets.
Tel-Instrument provides instruments to test, measure, calibrate, and
repair a wide range of airborne navigation and communication equipment.
For further information please visit our website at www.telinstrument.com.

This press release includes statements that are not historical in
nature and may be characterized as "forward-looking statements,"
including those related to future financial and operating results,
benefits, and synergies of the combined companies, statements concerning
the Company's outlook, pricing trends, and forces within the industry,
the completion dates of capital projects, expected sales growth, cost
reduction strategies, and their results, long-term goals of the Company
and other statements of expectations, beliefs, future plans and
strategies, anticipated events or trends, and similar expressions
concerning matters that are not historical facts. All predictions as to
future results contain a measure of uncertainty and, accordingly, actual
results could differ materially.
Among the factors which could
cause a difference are:
changes in the general economy; changes
in demand for the Company's products or in the cost and availability of
its raw materials; the actions of its competitors; the success of our
customers; technological change; changes in employee relations;
government regulations; litigation, including its inherent uncertainty;
difficulties in plant operations and materials; transportation,
environmental matters; and other unforeseen circumstances.
A
number of these factors are discussed in the Company's previous filings
with the U.S. Securities and Exchange Commission. The Company disclaims
any intention or obligation to update any forward-looking statements as
a result of developments occurring after the date of this press release.
The safe harbor for forward-looking statements contained in the
Securities Litigation Reform Act of 1995 (the "Act") protects companies
from liability for their forward-looking statements if they comply with
the requirements of the Act.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com