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Satnews Daily
November 8th, 2010

TeleCommunication Systems... Financially Speaking...


[SatNews] TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) has reported results for the third quarter ended September 30, 2010. Third Quarter 2010 results...
  • Revenue was a record $102.9 million, up 11 percent from the previous record quarter of $92.7 million and up 44 percent from $71.6 million in the third quarter of 2009.
  • Gross profit was a record $36.7 million, up 30 percent from $28.2 million in the third quarter of 2009.
  • EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization, including non-cash stock-based compensation) was $17.5 million or $0.27 per diluted share, up 32 percent from $13.3 million or $0.25 per diluted share in the third quarter of 2009.
  • Pre-tax income was $7.9 million or $0.12 per diluted share, down from $9 million or $0.17 per diluted share in the third quarter of 2009, reflecting additional non-cash charges and operating expenses arising from the 2009 acquisitions and higher interest expense due to the company's fourth quarter 2009 financing.
  • Net income was $4.3 million or $0.08 per diluted share, compared to $5.4 million or $0.10 per diluted share in the third quarter of 2009. Per share amounts were partly affected by the higher number of shares outstanding in 2010.
To read the entire financial report, select this direct link