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October 28th, 2012

TeleCommunication Systems... Signing On For SNAP Support + Financially Speaking (SATCOM + Business)

[SatNews] TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) has received $18 million in...

...funded orders for field services support and maintenance of Secret Internet Protocol Router and Non-secure Internet Protocol Router Access Point (SNAP) Very Small Aperture Terminal (VSAT) satellite systems. The U.S. Army Project Manager for the Warfighter Information Network - Tactical (PM WIN-T) Commercial Satellite Terminal Program is funding this procurement through the Army's $5 billion World-Wide Satellite Systems (WWSS) contract vehicle.

The TCS SNAP VSAT systems provide multimedia communications capabilities which convey encrypted voice, video and data. TCS SNAP products are highly transportable and ruggedized, and have a graphical user interface that facilitates easy set-up and operation. The modularity and plug-and-play interfaces between all radio frequency (RF) and baseband configurations inherent in the SNAP product line result in communication solutions tailored to the end-user's specific needs.

Additionally, the company has reported results for the third quarter ended September 30, 2012.

  • Revenue was up 24 percent to a record $140.1 million
  • Gross profit was up 18 percent to a record $44.1 million
  • EBITDA (Earnings before interest, taxes, depreciation, amortization and non-cash stock-based compensation) was $15.1 million, 2 percent higher than the year-ago quarter
  • Adjusted net income was $7.3 million or $0.12 per diluted share, up 9 percent from $6.7 million or $0.11 per diluted share in the third quarter of 2011
  • GAAP net income was $4.2 million or $0.07 per diluted share, up 127 percent from $1.8 million or $0.03 per diluted share

"The third quarter of 2012 marks the highest quarterly revenue and gross profit in our company's history," said Maurice B. Tose, TCS chairman and CEO. "These results were driven by our TotalCom™ solutions for federal government customers, as well as by our commercial 9-1-1 services for network operators and state and local governments. The microDATA acquisition, which closed at the beginning of July, contributed to growth in our Commercial segment, while our Government segment generated strong sequential and year-over-year organic growth driven by continued demand for TCS' deployable secure communication systems, managed services and field support." To read the entire financial report, select this direct link.