Tel-Instrument Announces over $1,000,000 in New Orders, Including over $540,000 in International Mode 5 Orders
December 12 2017 - 8:30AM
Business Wire
Tel-Instrument Electronics Corp. (“Tel”, “Tel-Instrument” or the
“Company”) (NYSE American: TIK), a leading designer and
manufacturer of avionics test and measurement solutions, today
announced that last week it received over $1,000,000 in orders from
four (4) customers, including $543,000 of international Mode 5
orders and $442,000 in orders from our commercial distributor,
primarily for a major U.S. airline.
In commenting on the results, Mr. Jeffrey O’Hara, President and
CEO of Tel, stated, “We have seen a solid pick-up in orders from
both our domestic and international customers this quarter with
sales being made to several of our key international Mode 5
markets. Orders for our new T-47/M5 product continue to increase
and we will begin shipping this product to customers later this
month. The T-47/M5 is a key product for the Company as it can also
be sold as a Mode 5 upgrade KIT for the thousands of Mode 4 test
sets already in the field. The Company continues to pursue
international opportunities with its "Drive to Mode 5" marketing
campaign. Rebuilding our sales backlog is critical, and we expect
to see this sales momentum continue in calendar year 2018 as we
approach the January 1, 2020 mandate for Mode 5 inter-operability
with our foreign allies.
We hope to see all of our shareholders at our Annual Meeting
scheduled for January 17, 2018 at our East Rutherford offices.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171212005474/en/
Tel-Instrument Electronics Corp.Joseph P. Macaluso,
201-933-1600orInstitutional Marketing Services (IMS)John Nesbett or
Jennifer Belodeau203-972-9200jnesbett@institutionalms.com
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