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September 04, 2015 5:51 PM ET

Communications Equipment

Company Overview of TESSCO Technologies Inc.

Company Overview

TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. It provides base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems; and connector installation, custom jumper assembly, site kitting, and logistics integration services. The company also offers network systems, such as fixed and mobile broadband radio equipment, wireless networking filtering and di...

11126 McCormick Road

Hunt Valley, MD 21031

United States

Founded in 1982

786 Employees





Key Executives for TESSCO Technologies Inc.

Founder, Chairman, Chief Executive Officer, President and Member of Risk & Strategy Committee
Age: 71
Total Annual Compensation: $668.5K
Chief Financial Officer, Senior Vice President and Corporate Secretary
Age: 44
Total Annual Compensation: $269.2K
Senior Vice President of Performance Systems & Operations
Age: 55
Total Annual Compensation: $340.1K
Compensation as of Fiscal Year 2015.

TESSCO Technologies Inc. Key Developments

TESSCO Technologies Inc Announces Management Changes

TESSCO Technologies Inc. announced the election of Mark Wymer and Craig Oldham to the position of Senior Vice President. Leading the Market Development & Sales Group, Wymer will be an executive officer of the company and a member of the senior leadership executive team reporting directly to Chairman and CEO Robert Barnhill. He will develop market strategy and lead the sales organization to meet corporate growth targets by maximizing existing and creating new business opportunities. Market Development & Sales will continue to aggressively focus on proactive and solutions-based selling and improving the customer experience. Wymer joined TESSCO in May 2014. He is the former Vice President - Channel Marketing & Online Services for Hughes Network Systems. He previously was Vice President - Business Development at AOL. Leading the Strategic Marketing Group, Oldham will be an executive officer of the company and a member of the senior leadership executive team reporting directly to Chairman and CEO Robert Barnhill. He will oversee and develop marketing strategies across TESSCO, including the expansion and enhancement of TESSCO's digital and Internet customer experience and marketing. Oldham joined TESSCO in March 2014. He is the former Vice President, Marketing - Digital Strategy & Engagement for the American Red Cross. Prior to that, he was Assistant Vice President, Marketing Strategy & Execution, for Zurich Financial Services. He has also held leadership positions at Allstate Insurance, Ameritech, SBC and Sprint.

TESSCO Declares Quarterly Cash Dividend, Payable on 14 August 2015

TESSCO announced that its board of directors declared a quarterly cash dividend of USD 0.20 per common share payable on 14 August 2015 to holders of record on 31 July 2015.

TESSCO Technologies Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 28, 2015; Provides Earnings Guidance for the Second Quarter of Fiscal 2016; Revises Earnings Guidance for Fiscal 2016

TESSCO Technologies Inc. reported unaudited consolidated earnings results for the first quarter ended June 28, 2015. For the quarter, the company reported revenues of $134,664,000 against $152,946,300 a year ago. Income from operations was $2,859,500 against $6,072,400 a year ago. Income before provision for income taxes was $2,813,200 against $6,044,000 a year ago. Net income was $1,695,300 or $0.20 diluted earnings per share against $3,671,400 or $0.44 diluted earnings per share a year ago. Net income as adjusted was $1,695,300 or $0.20 diluted earnings per share against $3,671,400 or $0.44 diluted earnings per share a year ago. EBITDA was $3,990,800 or $0.48 diluted per share against $7,240,200 or $0.86 diluted per share a year ago. Adjusted EBITDA was $4,122,500 or $0.50 diluted per share against $7,689,800 or $0.91 diluted per share a year ago. Cash flow from operations was $1.8 million during the first quarter. The company expect the second quarter of fiscal 2016 to be lower than last year but to improve sequentially as the company make further progress on imperatives. As a result, the company is providing guidance for earnings per share of $0.26 to $0.32 for the second quarter of fiscal 2016. Also based on the stronger-than-expected first quarter, the company increased the lower end of its prior EPS guidance for full-year fiscal 2016 by $0.05. The new EPS guidance range for fiscal 2016 is now $1.05 to $1.25.

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