Technical Communications Corporation (NASDAQ:TCCO) announced recently the results for its fiscal year ended on September 30, 2017. The company which is focused on designing and distribution of communication security devices, systems and services reported a net loss of about $ 1,429,000 on the revenue of $4,209,000 compared to a previous net loss of $2.472,000 on revenue $2,523,000 collected in the year ended October 1, 2016.
According to Carl H. Guild, Jr., President, and CEO of the company, the revenues were a bit lower than what was initially anticipated due to delays that were experienced on the key international programs. The firm’s radio encryption product line contributed significantly to the 2017 sales especially after the completion of an order from Datron which will serve the Afghanistan market.
Guild added that the additional orders will boost the sales of the company since they are in support of the ongoing US government activities in the Afghanistan region though the timing is unpredictable. TCC has continued to pursue the application of the radio encryption products to the new markets that require voice communications security to support the joint air, sea, and land operations. The firm’s new radio encryption system, HSE6000 SEAL, for instance, has successfully accomplished its customer reviews and it’s currently participating in the field operational testing.
Furthermore, the network encryption solutions are implemented alongside the development of the company’s proprietary platform, which is customized to meet the unique customer demands. The company is still working on the platform that is expected to reach the market before the end of the year 2018. TCC is also dedicated to retrieving its profitability position in the fiscal year, 2018.
TCC intends to closely monitor and cut down its operating expenses as appropriately as possible, while strategically advancing its business development efforts, enhancing productive relationships among its business partners, and investing in its sales channel network. For decades, TCC has specialized in the provision of superior-grade security communications systems and customized solutions for its customers.