TESSCO Technologies Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended December 30, 2012; Revises Earnings Guidance for the Fiscal 2013; Declares Quarterly Cash Dividend, Payable on February 13, 2013
For the nine months, the company reported revenues of $594,115,200 against $538,602,500 a year ago. Income from operations was $24,412,300 against $21,235,800 a year ago. Income before provision for income taxes was $24,329,200 against $20,983,900 a year ago. Net income was $14,874,100 or $1.80 per diluted against $12,888,000 or $1.60 per diluted share a year ago. EBITDA was $28,131,800 or $3.40 per diluted share against $24,809,500 or $3.08 per diluted share a year ago.
The company revised earnings guidance for the fiscal 2013. For the fiscal, the company raising the bottom end of its annual guidance and now expecting diluted earnings per share will range from $2.05 to $2.15. Fourth fiscal quarter is typically the one most negatively affected by seasonality due to weather-related slowdowns in its commercial segment and post-holiday slowdowns in its retail segment.
The board has declared a quarterly cash dividend of $0.18 per common share payable on February 13, 2013 to holders of record on January 30, 2013.