Contango ORE, Inc. (OTCQB: CTGO):
CONCORD, Mass., Aug. 07, 2020 (GLOBE NEWSWIRE) -- Technical Communications Corporation (NasdaqCM: TCCO) today announced its results for the quarter and nine months ended June 27, 2020. For the quarter ended June 27, 2020, the Company reported a net loss of $(482,000), or $(0.26) per share, on revenue of $599,000, compared to a net loss of $(326,000), or $(0.18) per share, on revenue of $1,234,000 for the quarter ended June 29, 2019. For the nine months ended June 27, 2020, the Company reported a net loss of $(1,324,000), or $(0.72) per share, on revenue of $1,987,000, compared to a net loss of $(401,000), or $(0.22) per share, on revenue of $4,275,000 for the quarter ended June 29, 2019. Carl H. Guild Jr., President and CEO of Technical Communications Corporation, commented, “As stated in our previous quarter’s earnings report, the COVID-19 pandemic had delayed several projects that are in the pipeline, and those delays continue with some limited progress toward the resumption of the procurement process. At this point, the inability to conduct in-person meetings and demonstrations is slowing progress. We do see that certain countries are beginning to open up, and TCC is preparing to increase its level of business development pursuit as soon as it is allowed and safe.TCC is currently producing DSP 9000 and HSE 6000 radio security equipment for a foreign military sales contract that was received in May, 2020. It is expected that most of that equipment will be delivered by the end of September 2020. This contract is the second annual tranche in a multi-year procurement.”About Technical Communications CorporationFor over 50 years, TCC has specialized in superior-grade secure communications systems and customized solutions, supporting our CipherONE® best-in-class criteria, to protect highly sensitive voice, data and video transmitted over a wide range of networks. Government entities, military agencies and corporate enterprises in 115 countries have selected TCC's proven security to protect their communications. Learn more: www.tccsecure.com.Statements made in this press release or as may otherwise be incorporated by reference herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include but are not limited to statements regarding anticipated operating results, future earnings, and the ability to achieve growth and profitability. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, including but not limited to the effect of foreign political unrest; domestic and foreign government policies and economic conditions; future changes in export laws or regulations; changes in technology; the ability to hire, retain and motivate technical, management and sales personnel; the risks associated with the technical feasibility and market acceptance of new products; changes in telecommunications protocols; the effects of changing costs, exchange rates and interest rates; and the Company's ability to secure adequate capital resources. Such risks, uncertainties and other factors could cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of the risks facing the Company, see the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 28, 2019 and its Quarterly Reports on Form 10-Q for the quarters ended March 28, 2020 and December 28, 2019 and the “Risk Factors” sections included therein.Technical Communications CorporationCondensed consolidated statements of operations Quarter Ended 6/27/2020 (Unaudited) 6/29/2019 (Unaudited) Net revenue$ 599,000 $ 1,234,000 Gross profit 355,000 445,000 S, G & A expense 505,000 732,000 Product development costs 332,000 43,000 Operating loss (483,000) (329,000) Net loss (482,000) (326,000) Net loss per share: Basic$ (0.26) $ (0.18) Diluted$ (0.26) $ (0.18) Nine Months Ended 6/27/2020 (Unaudited) 6/29/2019 (Unaudited) Net revenue$ 1,987,000 $ 4,275,000 Gross profit 973,000 1,644,000 S, G & A expense 1,603,000 1,872,000 Product development costs 695,000 187,000 Operating loss (1,325,000) (414,000) Net loss (1,324,000) (401,000) Net loss per share: Basic$ (0.72) $ (0.22) Diluted$ (0.72) $ (0.22) Condensed consolidated balance sheets 6/27/2020 (Unaudited) 9/28/2019 (derived from audited financial statements) Cash and cah equivalents$ 961,000$ 1,593,000 Accounts receivable - trade 50,000 126,000 Inventory 1,136,000 1,042,000 Other current assets 148,000 118,000 Total current assets 2,295,000 2,879,000 Property and equipment, net 21,000 38,000 Right-of-use asset 596,000 - Total assets$ 2,912,000$ 2,917,000 Current operating lease liability$ 151,000$ - Deferred income 474,400 - Accounts payable 90,000 355,000 Customer deposits 562,000 21,000 Accrued expenses and other current liabilities 253,000 321,000 Total current liabilities 1,530,000 697,000 Long term operating lease liability 445,000 - Total liabilities 1,975,000 697,000 Total stockholders’ equity 937,000 2,220,000 Total liabilities and stockholders’ equity$ 2,912,000$ 2,917,000 Technical Communications Corporation 100 Domino Drive Concord, MA 01742 – 2892Michael P. Malone Chief Financial Officer (978) 287-5100 www.tccsecure.com
Right now, Technical Communications Inc. (NASDAQ: TCCO) share price is at $3.38, after a 3.21% decrease. Over the past month, the stock spiked by 38.29%, but over the past year, it actually fell by 5.49%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio.The stock is currently above from its 52 week low by 96.40%. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Communication Equipment stocks, and capitalize on the lower share price observed over the year.The P/E ratio measures the current share price to the company's earnings per share. It is used by long-term investors to analyze the company's current performance against its past earnings, historical data and aggregate market data for the industry or the indices, such as S&P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also shows that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future.Depending on the particular phase of a business cycle, some industries will perform better than others.Technical Communications Inc. has a lower P/E than the aggregate P/E of 25.65 of the Communication Equipment industry. Ideally, one might believe that they might perform worse than its peers, but it's also probable that the stock is undervalued.P/E ratio is not always a great indicator of the company's performance. Depending on the earnings makeup of a company, investors may not be able to attain key insights from trailing earnings.See more from Benzinga * 19 Technology Stocks Moving In Tuesday's Pre-Market Session * 18 Technology Stocks Moving In Friday's Pre-Market Session * 14 Technology Stocks Moving In Thursday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.