UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
____________________
FORM 8-K
CURRENT
REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): August
25, 2011
____________________
TEL-INSTRUMENT
ELECTRONICS CORP
(Exact
name of registrant as specified in its charter)
|
New Jersey |
33-18978 |
22-1441806 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number)
|
(IRS Employer Identification No.) |
|
728 Garden St |
(201) 933-1600 |
|
|
(Address
of principal |
(Registrant's telephone number, |
Not Applicable
(Former
name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 2 – Financial Information
Item 2.02. Results of Operations and Financial Condition
On August 25, 2011, the registrant issued a press release relating to its June 30, 2011 results. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned there unto duly authorized.
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TEL-INSTRUMENT ELECTRONICS CORP |
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Date: |
August 25, 2011 |
By: |
/s/ Jeffrey C. O’Hara |
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Jeffrey C. O’Hara |
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CEO |
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2
Exhibit 99.1
Tel-Instrument Electronics Corp. Announces Improved First Quarter Results
CARLSTADT, N.J.--(BUSINESS WIRE)--August 25, 2011--Tel-Instrument Electronics Corp. (NYSE Amex: TIK) announced results for the first quarter ended June 30, 2011. Revenue for the quarter increased to $3.99 million compared to $2.46 million for the same quarter last year. Operating profit for the quarter increased to $213,771 compared to an operating loss of $433,010 for the year ago period. Net profit for the quarter totaled $175,849, or $0.06 per fully diluted share, as compared to a loss of $275,412, or $0.11 per fully diluted share, for the same period last year.
Jeff O’Hara, the Company’s President and CEO, indicated that: “the first quarter results were achieved by a solid team effort by the entire company. This represents the third consecutive quarter of profitable operations and has allowed the Company to strengthen its balance sheet and position ourselves for significant profitable growth beginning in the third quarter of the current fiscal year when volume production of our new products are scheduled to commence. During the first quarter, Tel has achieved several milestones including: (1) the production release on the $16.2 million CRAFT 708 contract; (2) securing a $599k contract from the Navy to add further functionality to the ITATS TACAN bench tester; and (3) completion of environmental and EMI testing for the TS-4530A program. As previously announced, Tel is also proceeding with its plans to move to a new larger and more modern facility this fall to accommodate our aggressive growth plans.”
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 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.
CONTACT:
Tel-Instrument Electronics Corp.
Joseph P. Macaluso,
201-933-1600
or
Institutional Marketing Services (IMS)
John
Nesbett or Jennifer Belodeau
203-972-9200
jnesbett@institutionalms.com