TCCO - Technical Communications surges 190% after fiscal year-end reports

Technical Communications ([[TCCO]] +190.2%) announces fiscal year ended September 26, 2020 results.Net revenue dropped 41.5% to approximately $4.11M.Gross profit declined 29% to ~2.4MCompany reported a net loss of $(911,000), or $(0.49) per share, compared to net income of $631,000, or $0.34 per share.Cash and cash equivalents of $1.51M.Carl H. Guild Jr., President and CEO comments, “As stated in our previous quarters’ earnings reports, the COVID-19 pandemic continues to delay several projects that are in the pipeline, and those delays continue although we have experienced some limited progress toward the resumption of the procurement process. TCC and our customers have implemented substantial video communications in an effort to move the projects forward. We have seen evidence that certain countries are beginning to loosen restrictions, and TCC is preparing to increase its business development efforts as soon as it is allowed and safe. TCC has and will continue to pursue and accept U.S. government small

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Technical Communications surges 190% after fiscal year-end reports