Technical Communications Corporation (TCCO) 2003年年度报告「NASDAQ」.pdf

1、communicationsTechnical Communications Corporation2003 Annual ReportsecureCarl H.Guild,Jr.President and CEODecember,2003To Our Shareholders,Fiscal 2003 has been a successful year for TCC.Revenues have increased by 9%.Gross profit improved by 11%.And profitabilitywas sustained over five consecutive q

2、uarters with an FY03 earnings per share(undiluted)of$0.34.In my message one year ago,I stated that TCC faced serious challenges in a weak telecommunications market and that we were taking“actions consistent withour commitment to return to profitability”.During the past year those actions were taken

3、and through the combined efforts ofthe TCC Team,employees,suppliers and customer representatives,we have begun to achieve our objectives.Our success in fiscal2003 reinforces our continuing efforts to strengthen the Company and meet the challenges that are ahead.For the year ended September 27,2003 t

4、he Company reported net income of$457,000 or$0.34 per share,as compared to a net loss of$962,000 or$0.72 per share in the previous year.Revenues for fiscal 2003 were$4,051,000 as compared to$3,717,000 for the previous year.TCCs Government Systems product line contributed significantly to the fiscal

5、2003 revenues.Our high speed bulk encryptorscontinue to be a mainstay of secure communications for international command and control and defensive systems.Early in theyear,a major European producer took delivery of 20 encryption systems for deployment with an air defense system in the MiddleEast.The

6、 reliable performance of TCCs equipment in these demanding military situations continues to support our position inthe market and provide new opportunities for growth.For many years we have specialized in the custom design of encryption systems for government communications.This year weinitiated dev