Fri, Jun 28, 3:31 PM (71 days ago)
Tel-Instrument Electronics Corp.'s Form 10-K for the fiscal year ended March 31, 2024, reports a 2% increase in revenue to $8.8 million compared to the previous year. The company achieved a net income of $341,891, reversing a net loss of $388,545 from the prior year. Gross margin improved to 45.6% from 35.3%, attributed to stabilized production costs and higher-margin sales. Operating expenses decreased by 17%, primarily due to reduced engineering and development costs. The company's backlog increased to $7.2 million, indicating strong future revenue potential. Despite challenges in supply chain delays, the company expects improved financial performance, supported by a renewed line of credit and recent preferred stock issuances totaling $721,000. Risk factors include economic conditions, regulatory changes, and competition.