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): December 13, 2018
TEL-INSTRUMENT ELECTRONICS CORP.
(Exact name of registrant as specified in its charter)
|
New Jersey |
001-31990 |
22-1441806 |
|
(State or other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
One Branca Road
East Rutherford, New Jersey 07073
(Address of principal executive offices)
(201) 933-1600
(Telephone number, including area code)
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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events
On December 13, 2018, Tel-Instrument Electronics Corp (“Tel”, “Tel-Instrument” or the “Company”) (NYSE American: TIK) , 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.
A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
|
99.1* |
*Filed herewith
SIGNATURES
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 thereunto duly authorized.
|
|
TEL-INSTRUMENT ELECTRONICS CORP. |
||
|
|
|
||
|
|
|
|
|
|
Date: December 14, 2018 |
By: |
/s/ Joseph P. Macaluso |
|
|
|
|
Name: Joseph P. Macaluso |
|
|
|
|
Title: Principal Accounting Officer |
|
Exhibit 99.1
Tel-Instrument Electronics Corp. Announces $615,000
International Order for the T-47/M5 Mode 5 Test Set
East Rutherford, NJ – December 13, 2018 – 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 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.
|
Contact: |
Joseph P. Macaluso |
|
|
Tel-Instrument Electronics Corp. |
|
|
(201) 933-1600 |