TESSCO Technologies Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 24, 2017. For the quarter, the company reported revenues of $146,260,300 against $147,198,400 a year ago. Income from operations was $2,186,600 against $2,107,900 a year ago. Income before provision for income taxes was $2,072,100 against $2,070,800 a year ago. Net income was $1,570,200 or $0.19 per basic and diluted share against $1,227,700 or $0.15 per basic and diluted share a year ago. EBITDA was $3,186,300 against $3,193,500 a year ago. EBITDA, adjusted was $3,429,800 against $3,292,200 a year ago. EBITDA per diluted share was $0.38 against $0.38 a year ago. Adjusted EBITDA per diluted share was $0.41 against $0.39 a year ago.

For the nine months, the company reported revenues of $431,354,600 against $410,692,200 a year ago. Income from operations was $6,720,600 against $4,304,300 a year ago. Income before provision for income taxes was $6,381,000 against $4,238,600 a year ago. Net income was $4,027,000 or $0.48 per basic and diluted share against $2,302,400 or $0.28 per basic and diluted share a year ago. EBITDA was $9,751,300 against $7,665,500 a year ago. EBITDA, adjusted was $10,496,700 against $7,956,600 a year ago. EBITDA per diluted share was $1.16 against $0.92 a year ago. Adjusted EBITDA per diluted share was $1.25 against $0.96 a year ago. Cash flow used in operations was $7.3 million during the first nine months of the 2018 fiscal year, primarily due to increases in inventory and accounts receivable.

The company currently anticipates double-digit year-over-year revenue growth and to be profitable in its fiscal 2018 fourth quarter.